San­lam beefs up check off op­tion for lo­cal cor­po­rates

The Star (Kenya) - - News | Business -

WEITERE MWITA/ San­lam Kenya has stepped up its mar­ket de­vel­op­ment ef­forts to raise lo­cal in­sur­ance pen­e­tra­tion rates through cor­po­rate part­ner­ships.The lo­cal non-bank fi­nan­cial ser­vices firm is pur­su­ing cor­po­rate agree­ments with lead­ing lo­cal firms to fa­cil­i­tate life and gen­eral in­sur­ance pre­mium pay­ments via check off sys­tems. Rid­ing on the San­lam pay­point plat­form linked di­rectly to cor­po­rate and in­sti­tu­tional or­gan­i­sa­tions, the firm will re­ceive in­sur­ance pre­mi­ums vol­un­tar­ily de­ducted on a check off sys­tem from its cus­tomers.Man­ag­ing di­rec­tor Mugo Ki­bati said the firm has adopted cut­ting edge in­for­ma­tion tech­nol­ogy sys­tems to fa­cil­i­tate the run­ning of the in­no­va­tive check off op­tion for pre­mium pay­ments. “In many de­vel­op­ing coun­tries, in­sur­ance pre­mium pay­ments for life and re­lated prod­ucts are de­ducted via check off sys­tems,” Ki­bati said.

San­lam man­ag­ing di­rec­tor Mugo Ki­bati

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