Can “switch-on” a national-level, digital micro-pension and micro-insurance marketplace by leveraging existing financial inclusion infrastructure. Within a few weeks. And at a near-zero capital cost.
Are able to generate a large pool of new long-term household savings.
Banks, MNOs, MFIs, fintechs, gig-economy aggregators, cooperatives and MSMEs can instantly offer a regulated pension and insurance solution to their clients, employees, and partners. Without investing significant time or resources in new IT capacity or knowledge.
Enjoy long-term client/ partner connect and loyalty and new fee income. And achieve a double bottom-line impact.
Avoid large capital and time investments in building a proprietary pensionTech platform from scratch.
Do not need to build large retail sales and distribution capacity. Do not deal with millions of clients or micro-transactions. They only manage wholesale assets and aggregated insurance premiums.
Financial inclusion ecosystem stakeholders, including payment service providers and third-party agent networks, do not need to invest in any new capacity to provide micro-pension services.
They use existing capacity, operate on a variable cost basis, and became instantly profitable. Even with modest fees and charges.
Farmers, street vendors, domestic help, taxi drivers, MSME owners and employees, fishermen, small shopkeepers, gig-economy workers, and other self-employed individuals enjoy easy, secure and affordable access to a simple and well-regulated pension and insurance solution with zero KYC challenges or risks.
They simply use their mobile phones or a convenient and trusted channel outlet to easily open and operate their NID-linked pension and insurance accounts, and access information and services over time.