NAIROBI, Kenya, Nov 6 – Standard Chartered Bank has partnered with Sanlam Kenya to launch a mobile insurance product that enables clients to purchase motor insurance through the SC mobile app.
Standard Chartered Bank Chief Executive Lamin Manjang says the service takes less than five minutes to complete, which meets the companies’ aim of simplifying motor insurance procurement.
“This digital proposition enables our customers in Kenya to purchase a motor and home insurance offered in collaboration with Sanlam in a fast and simple way directly from the SC mobile App. The mobile application offers a true end-to-end customer experience including payment and receipt of the insurance policy in just a few minutes,” said Manjang.
Manjang says the project is part of the US$1.3 billion pledged by the Standard Chartered Group 3 years ago for digitization of services.
The launch comes at a time when Bancassurance is growing in the country as one of the alternative distribution channels to be embraced to boost insurance penetration.