6 November 2018

Kenya: StanChart Clients to Get Car Insurance on Phones

Standard Chartered Bank customers will buy house and motor vehicle insurance from their mobile phones, the lender has announced.

The plan, in partnership with Sanlam Insurance, will see customers apply for insurance from their StanChart mobile phone apps.

"Insurance is one of the areas where penetration is still very low in Kenya. It is around three per cent so clearly there is a huge opportunity for insurance penetration in this market. Now the partnership between the banks and the insurance companies is just enabling us to have that penetration increase," said StanChart Kenya CEO Lamin Manjang at a media briefing on Tuesday.

Customers will apply for the motor insurance by entering details on the car's year, make and value. They must also upload the log book onto the mobile application and then collect their insurance sticker from a Standard Chartered Bank branch.

Kenya

President Kenyatta Tells Off Leaders in Salary Rise

President Kenyatta has rebuked leaders who always push for salary increases at the expense of Kenyans. Read more »

See What Everyone is Watching

Copyright © 2018 The Nation. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.