Responsio Limited

Commercial motor bike and tricycle operation is a major informal employment sector in West Africa. Over 50% of commercial bike accidents are fatal, with lives often lost within the first 7 minutes of an accident. 

We propose an accident insurance cover for improved emergency response to motorbike and tricycle riders and commuters at no cost to Government and commuters. In addition, a daily micro-contribution savings Co-op for enhanced ease of access to funds. Our solution is an easy to use technology-based platform that synchronizes the micro-daily collection of savings and accident insurance funds from commercial transport operators. 

 
The Accident Insurance Fund will provide emergency response and accident cover thereby resulting in a marked reduction in loss of lives and permanent disability, whilst the Co-op Savings and Credit ensures ease of access to funds and improved livelihoods in this disadvantaged sector of West African population.

Motor bikes and three wheelers have been appropriated for commercial activity in a number of Sub-Saharan African cities.  This rise in motor bike taxis can be explained by the shortage of proper transport supply by the Governments. Four bike taxi e-hailing firms operated on the streets of  Lagos and Ibadan in 2019, these, in addition to the conventional commercial motorbike sector have shored up the numbers of riders to over 12 million riders in Nigeria.

With this increase in number, a corresponding increase in road accidents have been recorded. In Nigeria, this sector of informal employment do not have employment benefits, are not pensionable and have no health/accident insurance. When accidents occur, and fractures happen, the riders, due to lack of funds, often resort to traditional bone healers, who have limited facilities. A large proportion of the riders usually are incapacitated for months. The unfortunate riders are usually the main bread winners for their families,  their inability to be able to afford emergency health care imposes untold economic hardship on their families. 

The key problems are summarized thus; 1. Lack of accident insurance for a vulnerable population 2. Lack of access to funds during their recovery stage.

Our target population is at least 80% of the population. Due to the high unemployment rate, a lot of youths educated and non educated resort to motor bike riding to support their families and earn a living. 

A micro daily collection of approximately 30 cents a day is proposed to be the collection fee towards their road accident insurance fee. A rider makes between $7 to $12 daily from his operations. This collection will be enhanced via registered mobile money operators who are on the streets like the riders, thus ensuring their ease of access to fund payment and collection. 

We propose that they can interact with the platform via a  digitized ID card for payments and collections, digital mobile device or via a mobile app. This ensures that all classes of education is catered for. 

The co-op savings will be an optional service for them, however, the immense benefits will be highlighted to the riders. We propose upon establishment of this initiative to work in close partnership with a shelters organization to enable disadvantaged populations have access to basic housing via the platform that utilizes the micro collection model. 

A reasonable percentage of the motor bike riders in Nigeria are migrants from North West Africa and Benin republic. The riders are a major informal employer in West Africa, with no benefits and are exposed to high risk, our accident insurance and co-op solution allows us to capture the data of these individuals, thereby ensuring that these people can be reached in the event of a national intervention. Our solution also ensures that these individuals have access to savings, and are bankable.