Britam has partnered with Bismart to launch a short-term school fees insurance cover, Elimu Smart.
The cover protects school going children from dropping out of school in the unfortunate event of death, permanent disability or critical illness of the parent or guardian.
The solution is fully digital with premiums even below Sh1,000 per year.
Speaking during the launch, Britam Retail Business general manager Njeri Jomo said the launch of Elimu Smart seeks to help parents pay school fees for their children.
“We are aware of how hard parents work to make ends meet especially in regards to payment of school fees for their children and more so given the tough economic situation that we are facing globally,” Jomo said.
"The product protects children from dropping out of school in the unfortunate event of a parent’s or guardian’s death, permanent total disability, or diagnosis of critical illness," she added.
The amount covered is up to the actual school fees in the child’s current school.
This guarantees continuity of the child’s education without disruption.
It also gives the flexibility of selecting the total amount of school fees and the number of years to be covered.
The product targets parents and guardians with children at all education levels from kindergarten to university.
“We are leveraging on digital platforms and technologies to connect customers to the best insurance and investments solutions available in the market,” said Eunice Maina the managing director Bismart, which is an insurance aggregator.
The company enables access to insurance solutions through the co-creation of relevant products with existing affinity groups like saccos, schools, welfare groups and micro-finance institutions, and connecting them to insurance companies through technology.
Britam recently rolled out its 2021-2025 Strategic Plan to transform the organisation by putting customer needs first while deploying customer insights and analytics to meet those needs.
As part of its new strategy, Britam is seeking to capitalise on its investments in technology to improve efficiency and expand its customer base to drive growth.
-Edited by SKanyara
