CfC Life has acquired a new look and it will now be referred to Liberty Life Kenya as the life insurance provider continues to position itself to be a more customer-centric entity. Managing Director Abel Munda announced that the new brand will help the company re-energise itself as it seeks to penetrate the Kenyan market further by providing tailor-made products to meet customer needs.
“We have a five-year plan to become one of the country’s top three life insurers. This transition positions Liberty Life Kenya as a unique insurance services brand with its own identity and this will help us serve our customers from a clearly differentiated position,” Mr Munda said. “We joined hands with Liberty Africa to lead in innovation and provision of customized products that suit certain clients’ needs.”
Commenting on the rebrand, CfC Life chairman Peter Gethi lauded the new look, saying that it gives clarity in brand penetration and development and what the customer will embrace as the life product. “As we change our name, we are also renewing our commitment to continue offering strategic support and guidance towards financial freedom through products that are relevant and affordable. Creating value for our customers has never been a choice, it is our strategic focus,” noted Mr Gethi.
Liberty Africa acquired majority shares in Liberty Kenya Holdings, the mother of CFC Life in 2010. Over the years, the company has been trying to reposition itself as the best life insurer with a range of products that are meant for individuals as well as corporates. Statistics from Association of Kenya Insurers (AKI) show that the company’s gross written premium for the year 2013 was Sh3.40 billion representing a market share of eight per cent.
Mr Stuart Wenman, CEO at Liberty Africa said: “We now fully integrate Liberty Life Kenya to our continental business to create a single platform for us across the continent for innovation and institutional support to strengthen and deepen insurance penetration as well as a savings culture as a catalyst for overall socio-economic development,” Mr Wenman said.
Through creation of awareness and using the right distribution channels, the company plans to launch different products that can sell in the Kenyan market. These are expected to be rolled out in the next one year. The acquisition, however, will not affect CFC Life’s management with Mr Munda now becoming the MD of Liberty Life Assurance Kenya Limited.
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