New SCBF Project: First-Of-Its-Kind Digital Tele-Medicine and COVID-19 Insurance Product in Nepal
COVID-19 is a new acute threat to the well-being of low- and middle-income households in developing countries. It adds to the list of insurable risks which force households into poverty and creates heightened global insurance demand. Nepal has 46,257 confirmed COVID-19 cases as of 7 September 2020. As in other countries, the actual number of COVID-19 cases is likely to be higher than the officially reported number.
In response to COVID-19, the new SCBF product upscaling project supports the local insurtech company Stonestep TFD Nepal to implement a first-of-its-kind e-Health Value Added Service (VAS) product with two core features: e-health tele-consultation bundled with COVID-19 insurance. The e-Health VAS will be offered via outbound SMS and in-App notifications to customers registered with the mobile money partner, DigiPay Mobile Money, and TDO Nepal will provide the online health content and telephonic doctor consultations, as well as distribution.