NAIROBI, Kenya, Jul 8 – EcoInsurance Agency, a subsidiary of Ecobank, has launched a new product, the insurance Premium Financing which will allow customers to get loans to take out insurance covers.
The agency has partnered with leading insurance providers such as Old Mutual, Saham Assurance and UAP Insurance to provide affordable and innovative insurance products and services to customers. The product suite is all inclusive from personal solutions such as Motor, Property, Life and Investment solutions to corporate which aim to cater for all insurance needs of this niche of customers.
It also taps into the SME market by providing tailor-made services to cater for the diverse and fluid business requirements of Kenya’s SME market.
“Other business solutions include fire, marine, contractors all risks insurance, political violence terrorism and sabotage insurance, computer and electronic equipment insurance, money insurance and fidelity guarantee insurance among others,” said Ecobank Kenya Limited Managing Director & East Africa Cluster Head Ehouman Kassi.
Its timing is also impeccable as it comes at a time when Kenya is seeking to increase its insurance penetration which is currently estimated to be less than 4 percent.
The agency hopes to offer innovative products that will be bundled with the Bank’s products in order to offer its customers an additional avenue to invest their funds, by integrating their products with the various innovative life endowment & investment products offered by its partners.
The launch of the Bancassurance business by Ecobank Kenya follows similar rollout in our affiliates in Ghana and Nigeria.
