Noor Takaful Launches Advanced Health Insurance and Digital Innovations

In a groundbreaking move to transform healthcare access in Nigeria, Noor Takaful Insurance Limited, the country’s leading Takaful insurance provider, recently launched NOOR Health, a Health Maintenance Organization (HMO) aimed at providing affordable, high-quality, and Sharia-compliant healthcare services. This initiative marks a significant milestone in Noor Takaful’s mission to bridge healthcare accessibility gaps while fostering financial inclusion in line with Islamic principles. Alongside this, the company introduced a cutting-edge digital platform, RAHA by NOOR, designed to improve efficiency and convenience for users, making insurance services more accessible than ever.

These announcements were made during the second African Takaful and Non-Interest Finance Conference, held in Lagos on November 12 and 13, 2024, further cementing Noor Takaful’s reputation as an industry pioneer in the region.

NOOR Health

Healthcare accessibility remains one of the pressing challenges in Nigeria, a nation of over 220 million people. According to recent data from the World Health Organization (WHO), only about 5% of Nigerians have access to comprehensive health insurance coverage, leaving the majority vulnerable to out-of-pocket healthcare expenses. NOOR Health seeks to change this narrative by introducing a Health Maintenance Organization tailored to the unique needs of Nigerians, with a strong emphasis on affordability, reliability, and adherence to Sharia principles.

Speaking at the launch event, Ambassador Shuaib Ahmed, the founding chairman of Noor Group, highlighted the critical role that NOOR Health will play in enhancing community well-being. “The need for reliable, affordable healthcare has never been greater,” he said. “We believe that NOOR Health will serve as a bridge to improve well-being and security for communities across this country.”

Sharia Principles in Healthcare

As a Takaful insurance provider, Noor Takaful operates under the Islamic principle of cooperation and shared responsibility. Unlike conventional insurance models, Takaful insurance is structured as a risk-sharing arrangement where participants contribute to a pool, which is then used to support members in need. This ethical and community-focused approach ensures that services remain inclusive and socially responsible, aligning perfectly with the launch of NOOR Health.

Additionally, compliance with Sharia principles ensures that participants are not exposed to elements like interest (riba), uncertainty (gharar), or gambling (may), which are prohibited in Islam. This approach appeals not only to Muslims in Nigeria but also to a growing number of non-Muslims seeking ethical alternatives in the insurance market.

What Makes RAHA by NOOR Unique?

To complement the launch of NOOR Health, Noor Takaful also introduced RAHA by NOOR, a digital platform that redefines user experience in the Takaful insurance space. The word “RAHA,” meaning “ease” or “comfort” in Arabic, aptly reflects the platform’s mission to simplify the insurance process for users.

Key features of RAHA by NOOR include:

• Claims Processing: Users can submit claims digitally, ensuring faster resolutions.
• Healthcare: Participants can locate hospitals, book appointments, and access medical records seamlessly.
• Daily Convenience Services: Beyond healthcare, the platform offers features such as bill payments, airline ticket bookings, and airtime top-ups.
• User-Friendly Interface: Designed for accessibility, the platform caters to users of all technical skill levels.

At the launch event, Vice Chairman Aminu Tukur emphasized the potential of RAHA by NOOR to integrate seamlessly into the daily lives of Nigerians. “This platform is not just about insurance—it’s about simplifying everyday tasks and improving quality of life for our participants,” he said.

The Government and Health Institutions

The launch event saw participation from key stakeholders in Nigeria’s healthcare and financial sectors. Professor Wasiu Adeyemo, representing the Coordinating Minister of Health and Social Welfare and the Chief Medical Director of Lagos University Teaching Hospital (LUTH), lauded Noor Takaful’s efforts. He described NOOR Health as a critical addition to Nigeria’s healthcare ecosystem, aligning with the government’s goal of achieving universal health coverage (UHC) by 2030.

Prof. Adeyemo further highlighted the public-private partnership potential of Noor Takaful’s initiatives, which can significantly bolster the national health insurance framework. “The establishment of NOOR Health as an HMO demonstrates the pivotal role the private sector can play in reducing the gaps in healthcare coverage. It’s a model worth emulating,” he noted.

Healthcare Access

One of the standout features of NOOR Health is its commitment to reaching underserved and rural communities. According to a 2023 report by the National Bureau of Statistics (NBS), over 60% of Nigerians live in rural areas, where access to healthcare services is often limited. NOOR Health aims to bridge this gap by partnering with local healthcare providers and leveraging mobile technology to extend services to remote regions.

Digital health solutions like RAHA by NOOR are also expected to play a crucial role in this expansion. By enabling participants to access services online, Noor Takaful eliminates many of the logistical barriers that have traditionally hindered healthcare access in rural Nigeria.

Noor Takaful’s Journey

Since its inception in 2016 as Nigeria’s first fully Indigenous composite Takaful insurance company, Noor Takaful has consistently led the charge in delivering innovative and ethical financial solutions. Regulated by the National Insurance Commission (NAICOM), the company has introduced various Takaful products, from family and general Takaful plans to specialized insurance services.

The launch of NOOR Health and RAHA by NOOR further cements Noor Takaful’s status as a trailblazer in the industry, setting new benchmarks for ethical insurance solutions in Nigeria and beyond.

The introduction of NOOR Health and RAHA by NOOR is expected to have far-reaching economic and social impacts. For one, the initiatives aim to reduce the out-of-pocket healthcare expenditure, which currently accounts for over 70% of total health spending in Nigeria, according to the World Bank. By providing affordable and accessible insurance options, Noor Takaful hopes to alleviate the financial burden on families, enabling them to focus on other essential needs.

Moreover, the digital transformation spearheaded by RAHA by NOOR aligns with Nigeria’s broader agenda for digital inclusion. As more Nigerians gain access to internet-enabled devices, platforms like RAHA by NOOR have the potential to revolutionize how services are delivered, creating a more connected and inclusive society.

As Noor Takaful embarks on this new chapter, the company’s leadership is keen to emphasize the importance of collective action in achieving its vision. Muhtar Bakare, Chairman of Noor Takaful Insurance Limited, urged Nigerians to hold the company accountable for its promises, stating, “Our business is underpinned by Sharia principles, which compel us to keep all our promises to you. We are committed to making healthcare accessible to every Nigerian, regardless of their social and economic status.”

Scaling Up Takaful Insurance

With the success of initiatives like NOOR Health and RAHA by NOOR, Noor Takaful is well-positioned to lead the growth of Takaful insurance across Africa. Industry analysts predict that the global Takaful market, valued at over $24 billion in 2023, will continue to expand at a compound annual growth rate (CAGR) of 14.6% through 2030. This growth presents immense opportunities for companies like Noor Takaful to scale their operations and bring ethical insurance solutions to more markets.

As the company looks to the future, its commitment to innovation, ethical finance, and community well-being remains unwavering. By addressing critical gaps in healthcare and financial inclusion, Noor Takaful is not just reshaping the insurance landscape—it’s building a more equitable and resilient Nigeria.

Noor Takaful’s launch of NOOR Health and RAHA by NOOR represents a transformative moment for healthcare and insurance in Nigeria. Through innovative solutions and a steadfast commitment to Sharia principles, the company is setting new standards for accessibility, reliability, and inclusivity in the sector. For Nigerians, this is more than just an insurance service—it’s a promise of a healthier, more secure future.