UtilaR, founded by Augustine Akande, Collins Akaniru, and Chris Ehigimetor, is on a mission to democratize access to health insurance across Africa. The idea behind UtilaR originated during Augustine’s tenure at AXA Health, where he recognized the need for a robust information technology infrastructure to facilitate seamless data sharing among Health Maintenance Organizations (HMOs). This infrastructure, he believes, will empower HMOs to accurately price corporate health transactions, which constitute over 90% of the health insurance industry premium.
Since its inception, UtilaR has evolved into a platform for distributing affordable health insurance in Nigeria. In partnerships with Leadway Health, Dot HMO, Nem Health, and ClearLine HMO, and ongoing discussions with AXA Mansard and Lagos State Health Management Agency (LASHMA), among other, UtilaR aims to streamline the process of health insurance distribution to all households, ensuring efficiency and effectiveness.
“We are set to deliver our Android and iOS Mobile applications by Q3 and a USSD string by Q4 2024,” says Collins Akaniru, co-founder of UtilaR. “Additionally, UtilaR is gearing up to launch its HMO Harmony Hub, dedicated to assisting human resource professionals in managing the health onboarding process of their employees.”
With health insurance penetration still under 10% in Africa, UtilaR sees immense potential in the industry, estimated to be upwards of $150 billion, with $25 billion within the Nigerian ecosystem alone. “This means that we have an enormous opportunity to unlock value for those fortunate enough to associate with us,” says Augustine Akande.
To encourage the gift of healthcare, UtilaR has launched the iCare campaign, incentivizing individuals to sponsor the health insurance premium of their parents and loved ones.
For more information about UtilaR and its innovative health insurance solutions, please visit www.utilar.
