Radiant Insurance Company was launched in 2013 under the stewardship of Mr. Marc Rugenera, with the aim of assisting those in need of insurance cover at an affordable cost. Since then, Radiant offers house insurance, car insurance, health insurance among others.
The managing director at Radiant, Marc Rugenera said that as they started in 2013, they were able to generate about Rwf3.6 billion in revenue, while last year they reached up to Rwf13 billion, all attributed to the trust the people have placed in them.
“Radiant has grown in an extraordinary way because of the trust we have received from Rwandan people, and as we like to say it ‘a promise is a promise’. The innovation we brought to the table is our constant support to our clients; when they need us we do everything possible to assist them, for that, I ask our clients to keep trusting us and coming to us for insurance,” he assured.
Meanwhile, Radiant Insurance Company has also launched an insurance product; ‘Radiant Yacu’, to assist Rwandans that do not earn beyond Rwf 1000 per month, to be able to have insurance.
“We have also launched products in agriculture insurance for the farmers; for example, if you own a cow worth Rwf 500,000 that is insured [at a premium of Rwf 25,000 per year] and it suddenly dies, the farmer is compensated to buy a new one,” says Rugenera.
Rugenera says that currently, Radiant Insurance has about 150,000 clients, targeting 2 million subscribers.
The managing director of the Radiant Yacu Micro-Insurance, Ambassador Joseph Habineza says that the company’s aim is to reach all people making sure that all Rwandans access insurance.
“We are unique in the sense that we try to facilitate all citizens to have an insurance; we even work with mobile money. If you chose a health insurance and say that you will be paying Rwf 1000 per month if you encounter a medical problem that requires financing, we compensate you up to one million, and in case of a sudden death we multiply up to 200 the amount,” he says.
A new card was displayed
Ambassador Habineza says that the ‘Turi Kumwe’ card was brought as a solution to support those who forget to renew their insurance.
“There are places that people go to every day in a routine like a place they go to eat, to buy groceries, or fuel; we have started with some of these like Merez stations. When you fuel from Merez using the Radiant card which can be used on the POS machine and pay for your fuel, you access health insurance without necessarily subscribing directly for the medical insurance,” he explains.
“ If you buy let say 20 liters of fuel, you receive your insurance immediately; all you have to do is to go to a Radiant office and tell them you consume Rwf100,000 worth of fuel per month, and they will be retrieving that amount from your card, and in doing so paying your insurance. Our desire is that all Rwandans should have insurance with Radiant Yacu.”
Ovia Tuhirwe Kamanzi, the Sales Director for Radiant Insurance Company said that currently they have 70 branches countrywide, making it easy for potential and current customers to access their services.
Mutoni Diogene, who has been driving a motorbike for 11 years says Radiant insurance company always compensates him on time when the need so arises.