Telkom Kenya and Britam Holding PLC have partnered to launch ‘Life Bila Noma’ an insurance solution targeting Telkom customers across Kenya. The solution is a bespoke product that bundles a couple of things in one. There are two options: Life 200 and Life 300.
With each bundle, you get:
- Mobile Data
- Voice Minutes
- Personal accident and Last expense insurance
Life 200 Bundle:
This requires a monthly payment of KES 200. You will get a monthly insurance personal accident cover of up to KES 20,000 and a monthly last-expense cover of KES 20,000. You will also get 1GB mobile data, 25 any-net minutes, 100 on-net minutes, and 25 SMSs across any network.
Life 300 Bundle:
This requires a monthly payment of KES 300. You will get a monthly insurance personal accident cover of up to KES 20,000 and a monthly last-expense cover of KES 20,000. You will also get 1GB mobile data, 50 any-net minutes, 100 on-net minutes, and 50 SMSs across any network.
Both bundles can be accessed via *444# on your Telkom Kenya mobile line.
According to the Association of Kenya Insurers (AKI) Industry Survey 2019, Kenya’s insurance penetration fell to 2.43 percent, the lowest in 15 years and the lowest quartile in the world. Part of the remedies to increasing the insurance penetration levels have been linked to a combination of technological adoption and mobile phone access through micro-insurance using small-scale, low-cost, and low-risk products.
Comments from Telkom and Britam:
Eric Achola, Director of Marketing at Telkom says: “At Telkom, we believe that access to mobile data is a fundamental human right and we remain dedicated to providing Kenyans with the much-needed innovative solutions to access this resource. Apart from looking for the next great competitive offer that will provide our consumers with more value for their communication and data demands, we are also aware of the crucial role that mobile innovation plays in increasing insurance penetration levels amongst key contributors to the economy such as the mama mbogaand boda boda riders. Our collaboration with Britam is therefore strategic to addressing this issue.”
“At Britam we recognized that Micro Small and Medium Enterprises (mSMEs) such as boda boda and small scale traders have traditionally had a challenge when it comes to accessing insurance products. That is why we partnered with Telkom to develop this solution. With Life Bila Noma, customers will get their medical expenses covered in case of an accident and in an unfortunate loss of life, Britam will provide a funeral cover. As part of our strategy towards building a customer centric organization that offers affordable and accessible everyday financial solutions, we are focusing on strategic partnerships that give us access to the underserved markets” says Britam’s Partnerships and Digital Director, Evah KIMANI.