Embedding insurance into remittances MFS Africa | Rwanda

Case Study

10th February 2023


Migrants need to send money home regularly, but shocks often disrupt this. Our client, MFSA, a digital payment gateway sought
to improve the resilience of their remittance customers.

The Objective

Improve the resilience of remittance senders

Strengthen MFSA’s core business by increasing remittance transaction values and volumes

The Solution

  1. A hospital cash insurance product is embedded into remittance transactions
  2. This insurance is free of charge to customers making remittances
  3. Customers can double or triple their free cover by remitting higher amounts

The Results

  1. Average transaction value – 19.7% improvement
  2. The average number of new customers – 109% improvement
  3. The average number of transactions – 9.3% improvement
  4. The average lag time between transactions – 38.3% improvement

Client’s Perspective

“We continue to be inspired by inclusivity solution’s commitment to their mission of inclusive insurance. They understand the difficulties of the mission yet have stayed the course and have what it takes to travel it. And we know that, when the world finally gets to that promised land, Inclusivity Solutions will be counted as one of the teams that got us there.”

Founder and CEO of MFS Africa

Dare Okoudjou