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Tech

Safaricom to Launch Under $1 Micro-Insurance Product for Matatu Passengers

Safaricom in November last year announced it had acquired an insurance license from the insurance regulator Insurance Regulatory Authority after a four year wait. This development marked Safaricom's entry and expansion into a new market segment riddled with inefficiencies...

Brand Voice

Insurance as a Safety Net & Economic Enabler – Financial Clinic by NCBA

"Insurance is both a safety net and a financial enabler," said Samuel Odhiambo, Mananging Director NCBA Bancassurance Intermediary Ltd, speaking during the episode of Financial Clinic, hosted by Sally Limo on Family TV. "Insurance goes beyond being a product—it's...

Tech for Good

World Bank’s Index-Based Livestock Insurance Scheme Benefits Over 130,000 Somali Pastoralists

World Bank's DRIVE Project, an Index-Based Livestock Insurance (IBLI) scheme, launched last year in collaboration with financial institutions including Salaam Somali Bank (SSB) and ZEP-RE, has provided insurance and transaction/savings accounts to over 130,000 Somali pastoralists. Launched to help Somali pastoralists recover...

Business

NCBA Rebrands AIG Kenya to NCBA Insurance After Full System Integration

NCBA Group has unveiled NCBA Insurance, its new insurance subsidiary after completing system migration and integration of AIG Kenya which it acquired in July 2024. NCBA Insurance Company, joins NCBA’s six other subsidiaries and will leverage on the strengths...

Brand Voice

Sophos: MDR Dramatically Cuts Insurance Payouts

Sophos, a provider of innovative security solutions designed to neutralise cyberattacks, has released a new independent study to quantify the financial impact of various cyber security controls on cyber insurance claims. The study reveals the different impact that endpoint solutions,...

Startups

M-KOPA & Turaco to Launch Hospital Cash Insurance in Ghana

M-KOPA and Turaco, an insurtech in Africa have announced plans to launch the Hospital Cash insurance cover in Ghana after reaching over 1 million Kenyans in just one year after launch. The health insurance dubbed Hospital Cash comes built into...

Tech for Good

Bayer and Pula to provide insurance coverage for 10 million smallholder farmers

Bayer Foundation and the Pula Foundation have partnered to provide insurance coverage for 10 million smallholder farmers by 2030. The two aims to enhance climate resilience among smallholder farmers, protecting them against the growing impacts of droughts and floods,...

Startups

Naked raises $38m to transform insurance in South Africa

Naked, a South African insurtech firm has secured $38 million (about R700 million) in its latest funding round to redefine insurance through tech. Naked's Series B2 funding round was joined by global impact investor BlueOrchard, with pariticipation from existing backers...

Business

Safaricom to Launch Insurance Products After Securing License: What This Means for Consumers

Safaricom, Kenya's leading telco, is making a bold move into the insurance industry after securing a license from the Insurance Regulatory Authority (IRA) to offer insurance products. This development marks a significant step for Safaricom as it expands its...

Startups

AXIAN Group acquires stake in WiASSUR, an insurance startup based in Côte d’Ivoire

AXIAN Group has acquired a stake in WiASSUR, an insurance start-up based in Côte d'Ivoire. This marks a key milestone for AXIAN Group's expansion strategy in this sector. This acquisition, closed mid-July 2024, positions AXIAN as WiASSUR's second-largest shareholder. The...

Insurance

GA Insurance Partners with ARC Ride to Offer Accident Insurance for Electric Motorcycle Riders

In a significant step toward enhancing safety for electric vehicle operators, GA Insurance Ltd, ARC Ride, and M-TIBA have teamed up to launch ‘SwapCare,’ a personal accident insurance plan specifically designed for electric motorcycle riders who utilize e-battery swap...

Tech

M-TIBA transforms health insurance with digital connectivity and real-time data analytics

M-TIBA ,a health insurance technology platform is revolutionzing the health insurance landscape with its digital connectivity and real-time data analytics . M-TIBA’s platform offers real-time insights that enable insurers to significantly reduce costs, detect unusual behaviors, and manage risks more effectively. It streamlines operations,...

Startups

Autochek Kenya, Turaco Partner to Offer Monthly Comprehensive Motor Insurance Cover for Clients

Autochek Kenya, an auto marketplace has partnered with Turaco, a tech-enabled insurance solutions provier to offer Autocheck's clients comprehensive motor insurance with flexible monthly payments, making the insurance cost for car owners in Kenya significantly more attainable. The car financing...

Digital

mTek Partners with UzaPoint to Offer Digital-Driven Insurance Products to SMEs

mTek, a leading Kenya-based digital insurance platform renowned for its seamless and convenient access to insurance products, has partnered with UzaPoint to enable Small and Medium Enterprises (SMEs) to access fully digital insurance products. This partnership will empower UzaPoint to...

Business

Prudential, Google Cloud to Build the Future of Insurance with AI

Prudential and Google Cloud have announced an expanded strategic partnership to build innovative AI-powered products and applications that will help enhance customer, agent and employee experiences. In the deal, Google Cloud will support Prudential’s new AI Lab, to solve...

Brand Voice

NCBA Group acquires 100% of insurance firm AIG Kenya in a consolidation move

NCBA Group has acquired 100% of insurance firm AIG Kenya in a move to further strengthening its position in the financial services industry. In a statement, NCBA’s Group Managing Director, John Gachora, said; “We are excited to welcome AIG Kenya...

Startups

IBISA raises $3 million to scale parametric insurance solutions across Asia and Africa

IBISA, a Climate Insurtech company, has closed a $3 million funding round to scale its parametric insurance solutions for weather-related risks in Asia and Africa. The round was led by The Acumen Resilient Agriculture Fund (ARAF) and Equator, alongside...

Startups

M-KOPA feted for affordable asset financing, digital loans & health insurance

M-KOPA, a Kenyan-based African fintech company, has been named on the Financial Times (FT) “Africa’s Fastest Growing Companies 2024” list, for its affordable digital financial services. Now on the FT’s rankings three years in a row, M-KOPA was vetted...

Tech

Kenyan InsurTech Startup Pula Secures $20 Million to Expand Insurance for African Farmers

Pula, a Kenyan insurtech company, has raised $20 million in Series B funding to expand its mission of providing smallholder farmers across Africa with access to affordable insurance. Led by global investment manager BlueOrchard, the funding round also saw participation...

Startups

Kenya’s Pula Secures $20 Million to provide Climate Insurance for Smallholder Farmers

Pula, a Kenyan-based Agritech startup has secured a $20 Million Series B funding round to provide climate-resilient insurance solutions to thousands of smallholder farmers across emerging markets. The Series B round was led by BlueOrchard, a global impact investment firm focused on...

Health

M-TIBA Adopts AI for Insurance Claims Processing, Reducing Approval Waiting Time

M-TIBA, a leading health insurance technology platform, has integrated Artificial Intelligence (AI), into its insurance claims processing system, drastically reducing claim approval times to just hours. The implementation of AI technology, and in particular Machine Learning (ML) models, enhances...

Insurance

Britam partners with AiCareTelematics to launch mileage-based telematics motor insurance cover

Britam General Insurance has launched a comprehensive,mileage-based telematics motor insurance cover, dubbed Motomatics, in partnership with AiCareTelematics Ltd, that enables consumers to pay less premiums, if they drive less than 10,000 km per year, and drive well. Tom Gitogo, Britam Group...

Tech

Bolt Announces Upcoming Launch of Entrip Insurance Package in Kenya

Bolt, the popular ride-hailing platform, is prioritizing rider and driver safety with the upcoming launch of its Entrip insurance package. This initiative, announced by Bolt Kenya Country Manager Linda Ndung'u, aims to provide additional coverage in case of unforeseen...

Tech

Kenya Kwanza Government to inject Sh5B into a Centralized Digital Medical Insurance Platform

The government intends to invest Sh5 billion in creating a unified digital platform for handling medical insurance claims within the mandatory social health plan. According to the Ministry of Health (MoH), the proposed Centralised Healthcare Provider Management System (CHPMS) outlined...

Banking

Old Mutual announces sale of full stake in UAP insurance Tanzania

Old Mutual Limited today announced the sale of its full stake in UAP Insurance Tanzania, its short-term insurance business to a group within its current Minority Shareholding, pending regulatory approval. This decision follows a thorough strategic review of the businesses relative...

Tech

AIICO Insurance Invests in InfraCredit to Enhance Infrastructure Financing

AIICO Insurance Plc has invested in InfraCredit, a leading infrastructure credit guarantee institution, acquiring a 5% stake in InfraCredit’s total share capital. This move, the second private domestic institutional investment alongside Leadway Assurance Plc, boosts InfraCredit’s paid-in capital to $175.14...

Business

Bluewave Insurance partners with MNOs to distribute affordable micro-insurance products, announces expansion plans

Bluewave Insurance Agency is gearing up for a strategic relaunch and regional expansion in Africa after signing a partnership deal with several mobile network operators to distribute affordable insurance products across the continent. Bluewave’s robust microinsurance digital system offers low-income users easy...

Insurance

Cigna Healthcare Partners with AAR Insurance to revolutionise the insurance landscape in East Africa

Cigna Healthcare, a global health insurance company, has announced a partnership with AAR Insurance Kenya to transform the insurance landscape in East Africa, delivering comprehensive and unmatched insurance coverage. This partnership seamlessly blends local expertise with global reach, providing policyholders...

Insurance

AAR Insurance unveils single -limit medical health cover to simplify medical insurance

AAR Insurance Kenya has launched ShwAARi medical health cover, a single -limit medical health cover that aims to offer flexibility for Kenyans. ShwAARi offers a range of customisable options, catering to the diverse needs and budgets of individuals and families. This allows clients...

How To

How to File a Kenyan Insurance Claim.

There are two main types for insurance claims. Certain insurance claims may necessitate a police investigation, whilst other claims may be straightforward and not require police intervention. Police are involved in insurance claims related to theft, fire, burglary, accidents,...

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