Avon Healthcare Limited and Piggybank.NG, a digital savings platform, have formed a strategic partnership to give disenfranchised Nigerians access to affordable health care.
The partnership, according to a statement by Avon HMO, will provide health insurance plans to users with flexible monthly payments.
As part of the collaboration, the partners said they would create a unique health care plan called AvonFlex, which is focused on affordability and flexibility for Piggybank.NG users.
According to the statement, Nigeria is home to over 67 million youths, with limited understanding of the importance of health insurance and equally limited health care coverage.
It added that while Avon HMO had used its platform to advocate for health education by pioneering the sale of health care plans online and launching straight to consumer retail plans, Piggybank.NG was widely trusted by millennials as Nigeria’s fastest growing digital savings platform.
Speaking on the partnership, the Chief Executive Officer, Avon HMO, Adesimbo Ukiri, said, “After awareness of health care plans and their impact, affordability is the second greatest impediment to more widespread health care coverage among Nigerians.
“AvonFlex is a health care plan that allows Piggybank.NG users pay for comprehensive health coverage in instalments, instead of a yearly lump sum.”
With some plans starting as low as N60/daily, AvonFlex offers value, flexibility and yet another viable option to access health care.”
The Head of Business Development, Piggybank.NG, Terry Kanu, said, “Partnering Avon HMO to democratise access to and payment for health care plans was a no-brainer for us.
“Avon HMO is a market leader and exactly the type of innovative partners we like to work with. We are constantly looking for new ways to better serve and bring millennials into these financial services. With this new partnership, Piggybank.NG users will not only continue to save, but also have access to affordable health care.”
According to the statement, AvonFlex provides an option that directly addresses the needs of previously un-served consumers such as entrepreneurs, young adults, students, domestic staff, and others who cannot pay the lump premium required to get a health care plan.