Navigation Links
LeapFrog Invests $6M in AllLife, Innovative African HIV and Diabetes Insurer
Date:12/2/2009

JOHANNESBURG, Dec. 2 /PRNewswire/ -- LeapFrog Investments has announced a ZAR 50 million (over US$6 million) investment in AllLife, the innovative South African insurer serving people living with HIV and diabetes. The investment brings together LeapFrog, the leading microinsurance investment fund, and AllLife, one of Africa's most innovative insurance businesses. The announcement took place after World AIDS Day.

"AllLife has developed a distinctive and profitable business model, reaching customers that other insurers have been unable to access," says Gary Herbert, a LeapFrog Principal. "LeapFrog is providing AllLife's team with support to grow their client base by several multiples, and expertise to help management cascade their unique systems into new products and markets."

AllLife, a pioneer in continuous underwriting, links insurance products to an adherence management program. The program ensures clients manage their health appropriately, routinely alerting them to potential health concerns and helping them take action to maintain their wellbeing - such as regularly testing and taking anti-retroviral medications. As a result, AllLife offers more competitively priced products, and covers people whom the insurance industry has often regarded as uninsurable.

"No one who is willing to manage their disease appropriately should be denied life insurance," says Ross Beerman, Managing Director of AllLife. "These are potential policyholders, willing to pay for reasonably priced insurance, and willing to take steps to manage their disease so that they lead long and productive lives. From a business risk and profitability perspective, of course they're insurable - we simply had to invent systems to monitor and support them in the right ways."

AllLife's world-class team and strong strategic plan position it to continue a rapid growth trajectory - its client base grew by 250% last year. AllLife targets reaching 50,000 HIV+ and diabetic policyholders in just a few years, generating strong profits and significant social impact.

In total, 250,000 policyholders and dependents will enjoy the financial security that insurance provides. Most have been unable to obtain insurance or could do so at very high cost - preventing them from taking out home loans, starting businesses, or engaging in other economic activities requiring insurance. Access to insurance has also been shown to reduce stigma associated with HIV, and measurably improve health outcomes. According to Beerman, the company sees an average 15% improvement in clients' health, just from having an AllLife insurance policy.

"We saw in this extraordinary company an opportunity to generate meaningful profits for investors while ending the exclusion of thousands of families from life insurance and participation in the economy," says Ingo Weber, an Investment Committee Member of LeapFrog and a former Managing Director at Swiss Re. LeapFrog's Founder and President, Andrew Kuper, concluded: "For anyone wondering if it's possible to do well by doing good, today that question is answered."

LeapFrog Investments manages the world's first microinsurance fund. Launched with President Bill Clinton in 2008, LeapFrog has raised $47 million to date from leading banks, funds, and microfinance and insurance investors. Its profit-with-purpose investment approach has been hailed by many global leaders as a new frontier for alternative investment and microfinance. www.leapfroginvest.com

AllLife designs, distributes and administers affordable life insurance products for individuals living with HIV or Type 1 or Type 2 diabetes mellitus who commit to following an appropriate health monitoring and treatment program. Since 2005 AllLife has provided affordable cover for thousands of people living with HIV, while improving their health through the adherence management program. AllLife products are reinsured by Gen Re, part of the Berkshire Hathaway Group.

www.alllife.co.za

SOURCE LeapFrog Investments


'/>"/>
SOURCE LeapFrog Investments
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Summa Health Systems Akron City Hospital Named Leapfrog Top Hospital for 2007
2. Integrated Healthcare Association Welcomes Leah Binder, New CEO of Leapfrog Group to National Pay for Performance Summit
3. The Leapfrog Group Releases 2008 Hospital Survey Offering Consumers Greater Assurance of Safety
4. Harvard Study in Joint Commission Journal: Mortality Rates Lower in Leapfrog Hospitals
5. Statement of the Leapfrog Group on Hospital Overdose of Up to 17 Babies at CHRISTUS Spohn
6. Leapfrog Groups 2008 Top Hospitals Excel at Patient Safety
7. More Hospitals Adopting Leapfrog Groups Never Events Policy Which Inculdes Apologies, Reporting, and Waiving Costs
8. The Leapfrog Group Launches Updated Hospital Rewards Program
9. SurgiCount Medical Joins The Leapfrog Group
10. The Leapfrog Group Identifies Nations Highest Value Hospitals
11. St. Johns Hospital Recognized by The Leapfrog Group and the Midwest Business Group on Health as one of the Nations Highest Value Hospitals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating ... many ways they remain in the eye of the beholder, according to experts who ... of The American Journal of Managed Care. For the full issue, click here ...
(Date:6/26/2016)... ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified personal trainer ... through a fitness app. The fitness app plans to fix the two major problems leading ... a one size fits all type program , They don’t eliminate all the ...
(Date:6/25/2016)... ... ... Bruton Memorial Library on June 21 due to a possible lice infestation, as reported by ... lice: the parasite’s ability to live away from a human host, and to infest common ... the event that lice have simply gotten out of control. , As lice are a ...
(Date:6/25/2016)... Oklahoma City, Oklahoma (PRWEB) , ... June 25, ... ... to helping both athletes and non-athletes recover from injury. Recently, he has implemented ... for the Oklahoma City area —Johnson is one of the first doctors to ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may suffer ... unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid ... healthy coping following a traumatic event. , Trauma sufferers tend to feel a range ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 2016 Research and Markets has announced ... Forecast to 2022" report to their offering. ... the patients with kidney failure, it replaces the function of ... patient,s blood and thus the treatment helps to keep the ... balance. Increasing number of ESRD patients & ...
(Date:6/23/2016)... ITASCA, Ill. , June 23, 2016  In a startling ... states are failing their residents by lacking a comprehensive, proven plan ... , a definitive ranking of how states are tackling the ... rating to only four states – Kentucky , ... and Vermont . Of the 28 failing states, ...
(Date:6/23/2016)... 2016 Capricor Therapeutics, Inc. ... biotechnology company focused on the discovery, development and ... enrollment in its ongoing randomized HOPE-Duchenne clinical trial ... of its 24-patient target. Capricor expects the trial ... of 2016, and to report top line data ...
Breaking Medicine Technology: