Sanlam beefs up check off option for local corporates
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