The Pacific’s first bundled insurance product was officially launched in Fiji yesterday covering 12,500 sugarcane farmers.
FijiCare Insurance Limited announced the launch in partnership with the United Nations – Pacific Financial Inclusion Programme (PFIP) and the Sugar Cane Growers Fund (SCGF).
“Bundled” Insurance offers consumers added convenience and potential cost savings by combining multiple insurance coverages in one package, one insurance policy.
It includes a term life, funeral expenses, buildings and personal accident coverage at a standard, low and affordable price.
Through a PFIP grant of USD $77,890, FijiCare upgraded its policy administration, financial and claims management systems so that the new microinsurance can be provided efficiently and at a low cost.