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:4/28/2017)... Edinburg, Texas (PRWEB) , ... April 28, 2017 , ... ... a plaque in recently to the labor and delivery team at Women’s Hospital at ... generous mothers who give birth at the hospital and decide to donate. , ...
(Date:4/28/2017)... ... April 28, 2017 , ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh ... Creator responds to and which He does not. Yisrayl says with so many titles ... the true name, but he says with a little Scripture, backed with a lot of ...
(Date:4/28/2017)... ... 28, 2017 , ... NuevaCare, a leading home care agency based in San ... Alto, is proud to announce information upgrades to its blog in the form of ... on topics such as home care (generally) as well as senior care and home ...
(Date:4/27/2017)... ... 2017 , ... The Incentive Research Foundation is pleased to ... a groundbreaking analysis of how behavioral economics can be applied to the incentive, ... programs, the report highlights proven behavioral economics approaches and the powerful role emotions ...
(Date:4/27/2017)... ... April 27, 2017 , ... SyncDog, Inc. ... at MobileIron Live! 2017 in Santa Clara, California. Each year, MobileIron ... approach to helping organizations maximize the benefits of mobility in their operations securely. ...
Breaking Medicine News(10 mins):
(Date:4/19/2017)... NASHVILLE , Tenn. and DALLAS , ... and EndoStim, Inc., announced that the first patients in ... with the EndoStim device in the Lower Esophageal Sphincter ... is a minimally-invasive implantable device designed to provide long-term ... through neurostimulation. GERD affects nearly 65 million ...
(Date:4/19/2017)... , April 19, 2017  Novartis today announced ... National Heart, Lung, and Blood Institute (NHLBI) of ... 58% of patients with treatment-naïve severe aplastic anemia ... treated with eltrombopag at the initiation of and ... study evaluated three sequential treatment groups, or cohorts. ...
(Date:4/18/2017)... April 18, 2017 Research and Markets has ... report to their offering. ... The global arthroscopy devices market to grow at a CAGR of ... Arthroscopy Devices Market 2017-2021, has been prepared based on an in-depth ... market landscape and its growth prospects over the coming years. The ...
Breaking Medicine Technology: