Bima247.com is powered by eSurance365, a software developed by a Kenyan based software development company.
“In recent years Kenyans have become comfortable using technology in their everyday lives for a variety of things including accessing government services such as filling tax returns, banking, shopping and money transfer services. The insurance industry has generally not quite kept pace when it comes to embracing technology and putting their services online,” co-founder of the portal Chris Odindo says.
To access the benefits, consumers will have to log onto Bima247.com website, enter their details once and get a quote either on screen or through their emails.
They will then pay online through any type of the available payment methods in Kenya, and if their proposal is accepted, they will get their insurance documentations through the post, or collect them in person from the underwriters.
Bima247.com is run by an internet-based, fully integrated insurance rating and payment system, esurance365, which is a first of its kind in Kenya.
“Esurance365 is a white label ‘plug-and-play’ system that will significantly benefit key stakeholders in the sector such as the insured, agents, brokers and insurance companies. Uniquely, insurance organisations can see how the underlying software works by visiting the online portal Bima247.com,” Venture’s Development Director Stanley Ngumo said.
Bima247.com will act as an intermediary for Jubilee Insurance Kenya products.
For insurance companies and brokerages, the core system not only allows them to take advantage of a new distribution and delivery channel but also bring down costs significantly through its highly optimized automation of the insurance process.
“We believe that the use of technological innovation such as bima247.com will have a significant impact on how insurance business is conducted in Kenya and also change how people consume insurance now and in the future,” Odindo said.