Listed non-bank financial services provider, Sanlam Kenya, has penned a deal to be the underwriter for Letshego Kenya’s insurance arm, covering all the microfinancier’s products.

The digital insurance offering, dubbed ‘LetsGo Insure’ leverages Sanlam’s investment in digital acceleration through strong ICT platforms in the general and life insurance space.

The robust investments in the digital platforms have permitted Sanlam Kenya to tap into new markets, which include microfinance insurance products.

Sanlam Kenya Group CEO, Dr Patrick Tumbo, says the firm will provide a tailor-made solution to Letshego Kenya for it to effectively roll out quality insurance covered services.

“Thanks to our dynamic partnership with Letshego, Sanlam Kenya can now extend the benefits and reach of our insurance products to more Kenyans. Each insurance solution has been customised to fit the needs of Kenyans, allowing international standards in insurance cover to be accessed at cost-effective pricing” said Dr Tumbo.

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The deal will see Sanlam Kenya underwrite the products offered by Letshego Insurance Agency including motor, personal accident, funeral cover as well as home insurance.

PHOTO/SANLAM

Letshego Kenya CEO Adam Kasaine says the deal fits into the microfinance firm’s strategy to take advantage of positive digital developments in Africa for the benefit of its customers.

Kasaine noted, “Letshego is building a digital nation across Africa – by Africans for Africa. Our partnership with Sanlam partnership resonates our commitment to improving the lives of our customers, seizing new opportunities to bring greater choice in products and value with world-class partners.”

Letshego Kenya Bancassurance Intermediary Ltd solutions are a value-add to protect its customers from loss of earnings in the event of unforeseen circumstances such as critical illness, permanent disabilities, loss of life and destruction & loss of property.

This partnership is the first of a series of propositions and follows a regional deal signed by the two firms and will see Sanlam insure Letshego insurance in their 11 markets including Kenya, Tanzania, Uganda, Rwanda, Botswana, Namibia, Mozambique and Nigeria.

The firm currently serves more than 30,000 clients by providing tailor-made, innovative and affordable financial solutions to the urban, peri-urban and rural populations across Kenya.