Details have emerged from the recently sealed partnership between Nigeria’s leading health management organization, Avon HMO and Piggy Bank. ng, an automated savings platform that gives Nigerian Millennials the opportunity to save money periodically towards a target.
This partnership will provide health insurance plans to users with flexible monthly payments, as the companies collaborate to create a unique health care plan called AvonFlex, which is focused on affordability and flexibility for Piggybank.NG users.
Nigeria, home to over 67 million youths has less than 5 percent of its population with any sort of healthcare cover. But with Piggybank.NG widely trusted by millennials as Nigeria’s fastest growing digital savings platform, both companies believe that the gap between access and affordability can be further bridged with the AvonFlex.
This, the Chief Executive Officer of Avon HMO, Adesimbo Ukiri noted, that after awareness of healthcare plans and their impact, affordability is the second greatest impediment to more widespread healthcare coverage among Nigerians.
He said AvonFlex is a health care plan that allows piggy-bank. NG users pay for comprehensive health coverage in installments, 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 healthcare.
“Partnering with Avon HMO to democratize access to and payment for health care plans was a no-brainer for us,” says Terry Kanu, Head of Business Development, Piggybank.NG adding that 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 in these financial services. With this new partnership, Piggybank.NG users will not only continue to save, but also have access to affordable health care.”
AvonFlex provides an option that directly addresses the needs of previously unserved consumers such as entrepreneurs, young adults, students, domestic staff, and others who cannot pay the lump premium required to get a healthcare plan.