Financial services firm Zamara Group has rolled out an online aggregator portal that enables customers to buy insurance at the touch of a button.
The platform, known as e-Zamara seeks to hand customers more power and freedom in making decisions through comparing costs from various insurance providers. Eighteen insurers have already signed up to the platform.
Customers will be able to choose from a menu of products in industries such as spanning motor insurance, retirement pension plans, domestic packages, and travel insurance.
Zamara Chief Executive Officer Sundeep Raichura said the move seeks to transform insurance offerings, attract the interest of tech-savvy Kenyans and increase uptake of insurance.
“I am especially happy that we are having this launch during Customers Services Week because eZamara is about responding to the needs of an increasingly tech-savvy generation in Kenya,” said Raichura.
Senior inspection officer at the Insurance Regulatory Authority (IRA) Mary Nkoimu, who spoke on behalf of CEO Godfrey Kiptum, said innovations will be the key drivers of insurance going forward.
“We are proud to be associated with Zamara for taking this step and having a portal where people can log in, identify what they need, compare the prices and assess whether they meet their needs,” said Nkoimu.
Insurance penetration in Kenya remains low 2.3 percent as of December 2020. Players are therefore banking on innovations such as e-Zamara to deepen insurance uptake.
Aggregator portals for insurance firms have been on rapid growth across the globe, with advanced economies such as the UK attaining more than half of total private auto insurance sales through aggregator channels.