a common goal in empowering Nigerians to change their lives and enhance their welfare by providing access to vital financial and health services. SympliFi’s first original mobile App allows Nigerians in the diaspora to assist their families back home get cheap credit on their own rather than sending money, by digitally supporting the loan.
Borrowers on the platform will now have access to loan protection insurance through this collaboration with AXA Mansard, which will cover them in the case of hospitalization, reducing their financial burden of unanticipated medical situations that may impair their loan payments. Some of the advantages offered by the unique insurance product combined with the loan are hospitalisation benefits which include a part of the loan payment, a cash payment to assist with hospital expenses, and a life insurance cover. The objective is to provide financial assistance as well as high-quality health treatment to clients in case they are severely ill.
Maurice Iwunze, the Chief Executive Officer of SympliFi, spoke about the ways of providing insurance services to Nigerians. He said, “Access to credit and health care remains out of reach for most Nigerians, so families in the diaspora end up serving as the bank and insurance company for their loved ones back home. It’s a financial drain on those in the diaspora, while their loved ones back home continue to be excluded from the financial system. We wanted to develop an innovative solution to seamlessly address the problem, in a way that’s a win-win for both sides. The AXA partnership allows us to do so and is a first step in working together to reimagine the way Nigerians in diaspora support their loved ones back home, beyond remittances.”
Tope Adeniyi, CEO of AXA Mansard Health Limited, expressed optimism over the new collaboration. He said, “We are delighted to partner with SympliFi to provide both easy access to healthcare and quick loans to Nigerians from the convenience of their mobile phones. We will continue to innovate and create new products, thereby improving the scope of our product offerings, whilst continuously enhancing our service delivery to ensure we always provide our customers with top-notch service to address their needs.”
