Our top banks, KCB and National Bank of Kenya (NBK), have joined forces with Britam General Insurance to bring some much-needed affordable health insurance options to our beloved Small and Medium Enterprises (SMEs) all over Kenya. It’s like a healthcare revolution, folks!
So, in this deal, KCB Bancassurance Intermediary Limited and National Bank of Kenya Bancassurance Intermediary Limited will be teaming up to distribute the super cool and brand-new KCB Flame Simba Health and Uzima Tele Insurance Plans. These plans were specifically designed to cater to the unique needs of our hardworking MSMEs. And guess what? They come with cost-effective premiums and flexible payment plans. Affordable and convenient? Now we’re talking!
Now, who can benefit from this fantastic scheme, you ask? Well, it’s open to registered companies with a minimum of three employees. Yep, even the smaller businesses can get in on the action! And what do they get? Three essential benefits, my friends: inpatient coverage, outpatient coverage, and last expense coverage. It’s like a triple threat of insurance goodness.
Let’s dive into the details, shall we? The KCB Flame Simba Health Plan is all about supporting our fabulous women entrepreneurs. It provides them with comprehensive medical solutions that address their specific health needs. Talk about women power! This plan includes awesome features like the Diva Wellness Cover, coverage for newborn baby expenses during the first 90 days (babies are expensive, we know), gynecological treatments, and maternity cover with essential ante-natal care. It’s like a healthcare package fit for a queen!
Now, let’s not forget about our other plan, the KCB Uzima Tele Health Insurance Plan. This one is for organizations looking to cover the healthcare needs of their employees and dependents without breaking the bank. It’s all about quality healthcare at an affordable cost. The coverage includes maternity care, vaccinations, and last expense benefits. So, if you’ve got a minimum of three employees, you can hop on board this insurance train.
Aggrey Mulumbi, the Managing Director of KCB Bancassurance Intermediary Limited, knows how important it is to make high-quality insurance products accessible to niche markets like our beloved SMEs. He believes that this partnership will transform them into a comprehensive financial services hub, offering innovative insurance products and top-notch customer service. We like the sound of that, Aggrey!
You see, this partnership understands the risks our MSMEs face, like inadequate risk management strategies. And it’s no secret that SMEs are more vulnerable to threats. But fear not, for this collaboration aims to bridge the gap and meet their unique needs. They want to safeguard the healthcare of business owners, employees, and their dependents. Talk about a caring insurance plan!
The ultimate goal of this deal is to provide affordable and accessible healthcare options that lighten the burden on our MSMEs. They deserve a break, don’t you think? It’s all about allowing them to focus on what they do best—running their businesses and fueling the growth of our economy.
Now, here’s a mind-blowing stat for you: MSMEs make up a whopping 98% of all businesses in Kenya. They contribute 30% of annual job creation and a solid 3% to our GDP growth. That’s pretty impressive, right? But here’s the catch: Many of them are underinsured because they lack knowledge about financial services, insurance mechanisms, and appropriate coverage. It’s time to change that, folks!
This partnership between KCB, NBK, and Britam General Insurance is a major step towards broadening their value proposition and catering to emerging insurance market segments. It’s a win-win situation for everyone involved. George Odhiambo, the Managing Director of NBK, is confident about this collaboration, and rightfully so. It will allow their customers to access a diverse range of health insurance products and benefits. That’s what we call a mutually beneficial opportunity, my friends!