DEAL

Sanlam inks agreement with Letshego Kenya

This partnership is the first of a series of propositions following a regional partnership agreement

In Summary
  • The partnership will see Sanlam underwrite the products offered by Letshego including motor, personal accident.
  • The digital insurance offering, dubbed ‘LetsGo Insure’ leverages on Sanlam Kenya’s investment in digital acceleration through robust ICT platforms.
Head of Bancassurance, Letshego Kenya Bancassurance Intermediary Ltd, Adam Kasaine, CEO, Letshego Kenya Bancassurance Intermediary Ltd, Caroline Laichena, CEO, Sanlam General Insurance Ltd and Kevin Mworia, Principal Officer, Sanlam Life Insurance Ltd review the signed Memorandum of Understanding
Head of Bancassurance, Letshego Kenya Bancassurance Intermediary Ltd, Adam Kasaine, CEO, Letshego Kenya Bancassurance Intermediary Ltd, Caroline Laichena, CEO, Sanlam General Insurance Ltd and Kevin Mworia, Principal Officer, Sanlam Life Insurance Ltd review the signed Memorandum of Understanding
Image: HANDOUT

Listed non-bank financial services provider, Sanlam Kenya has sealed a deal to be the underwriting services provider for Letshego Kenya’s insurance arm.

The partnership will see Sanlam underwrite the products offered by Letshego including motor, personal accident, funeral cover and home insurance.

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

The investments have allowed Sanlam Kenya to tap into new markets, including the microfinance insurance products.

Sanlam Kenya Group CEO Nyamemba Tumbo said the firm will provide a tailor-made solution to Letshego Kenya to enable the institution continue to rollout quality insurance covered services cost-effectively.

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 Tumbo.

Letshego Kenya CEO Adam Kasaine noted that the partnership is in line with the microfinance firm’s strategy to leverage on the positive digital developments in Africa, with a sustainable impact on the lives of its customers.

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

The company currently serves over 30,000 customers through the provision of tailor-made, innovative, and affordable financial solutions to the urban, peri-urban and rural Kenyan population.