Hollard Life Botswana’s Karabo funeral plan received international recognition at the 2025 Tokio Marine Group Awards. The funeral plan was recognised for its role in extending financial inclusion to underserved populations. The award, which celebrates innovation and impact across global insurance markets, is seen as a significant endorsement of the Karabo plan’s contribution to financial inclusion in Botswana.
Developed in partnership with Botswana Telecommunications Corporation (BTC) and its mobile money platform Smega, the Karabo Funeral Plan eliminates the requirement of a bank account, thereby enabling users to access funeral insurance simply by dialling a USSD code (173#) and paying premiums via mobile wallet. The innovation targets the large segment of the population that remains unbanked or underbanked due to high transaction costs, lack of financial literacy, and limited infrastructure, all factors that continue to hinder efforts to achieve financial inclusion in Botswana.
The Tokio Marine Group Awards are guided by the group’s founding vision, “to be a good company”. The awards recognise businesses that embody ethical leadership, community impact and innovative approaches to customer needs. Recipients of the awards are selected through a rigorous peer-review process led by past winners. In 2024, 24 winners were recognised across 46 countries worldwide.
Jane Tselayakgosi, Group Chief Executive Officer said, “We are honoured to be recognised by the Tokio Marine Group for the Karabo Funeral Plan. This recognition speaks to the impact we are making in widening access to financial security for Batswana. By partnering with BTC and the Smega mobile wallet, we are breaking down barriers that have kept many people excluded from essential cover and overall financial services. Karabo is more than just a product, it is a step towards real financial inclusion for families across the country.”
The Karabo funeral plan leverages Botswana’s high mobile phone penetration rate, transforming mobile devices into a gateway to access insurance.
Pravin Kalpagé, CEO of Hollard International (HINT) said, “We already have strong partnerships with mobile network operators and technology platform providers in countries like Lesotho, Ghana, and here in Botswana, where insurance is delivered, end to-end, via mobile phones. These collaborations have proven instrumental in extending insurance access to more people across the region. So, it remains crucial for financial services providers to continue to leverage trusted, widely used platforms to provide accessible solutions that enable people to confidently navigate some of life’s uncertainties. Partnerships like these will continue to play an important role in expanding the reach and impact of insurance across the continent.”
The Hollard Botswana team will formally receive its award at a ceremony in Tokyo on 14 October
