NCBA Group and Sanlam Life Insurance have partnered to offer new life insurance products. The partnership features two new products: Digital Last Expense, which will cover funeral costs, and Go Educator, which will enable users to pay for education. A savings product will also be introduced soon.
This move aims to make life insurance more accessible to Kenyans by addressing the low uptake caused by financial constraints and lack of information on the products. This partnership will enable NCBA and Sanlam Life Insurance to educate customers on their offerings and services.
NCBA Group Managing Director John Gachora said, “This collaboration with Sanlam Life Insurance represents a significant step forward in our commitment to providing comprehensive financial solutions to our customers. By offering these innovative life insurance products, we aim to enhance the financial well-being of our clients and ensure they have the necessary support during critical moments in their lives. We believe this partnership will significantly boost the uptake of life insurance in Kenya, addressing key barriers and misconceptions that have hindered its growth.”
The new products will be made available to customers through the bank’s Bancassurance Intermediary. Leveraging its extensive network of branches and customer experience touchpoints, the intermediary will ensure that the products are easily accessible to customers across Kenya. This strategic distribution approach aims to seamlessly integrate life insurance into their financial planning.
Sanlam Kenya Group CEO, Dr. Nyamemba Tumbo said, “For customers who prefer to receive services from a one-stop-shop like a bank, this partnership comes in handy for them as they will now be able to access a full suite of financial services to meet their long-term investment needs. We shall, therefore, leverage our distribution and processing capabilities, stronger brand visibility and a greater degree of public trust to deliver a superior customer and product experience.
By offering products that meet the specific needs of customers, NCBA and Sanlam are poised to enhance financial security and peace of mind for many families.
For more information about Digital Expense and Go Educator, please contact NCBA through 07…. Or visit our website at https://ke.ncbagroup.com/