Insurance brokerage firm, Liaison Group, Tuesday launched an online portal that compares the prices and products of insurance firms from a single window.
Group managing director Tom Mulwa said users can view covers in auto insurance, personal accident, last respect, household and business insurance as offered by various insurance companies and proceed to buy their selected product via cashless payment channels.
“The future is in availing insurance products online that reflect the needs of the growing tech savvy and ever busy Kenyan community.
“We have mooted this portal to enable users to access insurance products offered by local insurers via mobile platforms,” he said.
Most insurance business is conducted on an individualised paper-based transaction where a customer instructs their insurance agent or broker to make fresh applications for the insurance cover.
Association of Kenya Insurers board chairman Mathews Koech welcomed the development saying digitisation was the way to go for Kenyan underwriters adding that pay-as-you-go insurance products will be the next frontier in wooing Kenyans to take up insurance cover.
The launch event heard the competition on insurance products should not only ride on pricing but access and aftersales service were companies offer targeted products to specific groups.
Mr Mulwa said the e-insurance portal was aimed at increasing their customer-base thereby helping them grow revenues via enhanced agency fees.
University of Nairobi scholar Bitange Ndemo urged underwriters to urgently create social media teams that market their products online as well as monitor trends that inform a needs-based mechanism for future products.