In a world where finding the right insurance partner is hard, most customers often rely on recommendations from friends and family. Such recommendations are good, but almost always result in disappointments during critical moments such as premium financing or claims processing.
Direct brokers and agents have had their fair share of challenges especially on the customer side. With competition growing in the insurance industry – there are 56 players in the Kenyan market – customers are spoilt for choice. In this massive market, banks are emerging as trusted pickers of the right insurance products and the best underwriters.
NCBA Bancassurance department is at the forefront of helping customers access a range of insurance products from various insurers at affordable premiums for all round protection to individuals and families.
Insurance is about preservation of wealth and growing it to sustainable levels. The catch with NCBA Bank is the fact that its bancassurance professionals vet insurance companies and policies and recommend only reputable ones. This means customers underwrite risks with insurance companies that are financially sound, well reinsured and have a good record in approving and paying claims.
Being a trusted bank with branches across the country, NCBA has built itself a solid reputation as a go-to financial services institution and is certain to replicate that through bancassurance. As its mantra goes, the numbers that matter to you as an insurance customers indeed matter to NCBA as well.
“As a bank we know you very well as a customer. Since we understand your revenue trends we can offer you a holistic 360 kind of financial solution,” says Mr Ken Kiboro, head of business development for bancassurance at NCBA. The 360 solution includes savings, loans, investment and, of course, insurance.
Some of the insurance products include personal insurance policies, professional indemnity, business insurance and last expense. Other interesting covers insure against critical illnesses, and job loss.
For just between Ksh500 and Ksh1000, for instance, a customer can get covered for job loss and get paid for nine months after being sacked or get funeral expenses offset through NCBA bancassurance.
Most Kenyans are suffering financial burden due to lack of information about various insurance policies in the market. Most of these products are so affordable, by the way, taking only a tiny fraction of income.
There’s also the cover for domestic staff which can offer so much relief in case of injuríes or even dèath of a domestic worker in line with labour policies.
Life insurance crowns it all, helping principal members of a family to secure the financial lives of their dependents way before they depart. In fact, life insurance assures your loved ones of a lifestyle far much better than they had with you around.
“We can get you life insurance that will pay double the amount insured to your wife or children in case you die,” says Mr Kiboro of NCBA bancassurance. “That’s wealth not only preserved but also grown.”