Bolttech, an international insurtech company, is expanding its footprint to Kenya through a partnership with local fintech and digital banking service of the NCBA Bank, LOOP Digital Financial Services (DFS).
According to a statement, the move extends bolttech’s presence in Africa, bringing its embedded protection and insurance solutions to “one of the continent’s most dynamic and fast-growing digital economies”.
In October, the companies will launch a new product LOOP Flex Device Financing to customers. This aims to make it easier and more affordable for customers to own devices, while providing full insurance protection covering such issues as theft, accidental and liquid damage, mechanical breakdown.
Commenting on the partnership, Eric Muriuki, CEO, LOOP DFS said: “This partnership enables us to make high-quality devices more affordable while giving our customers the peace of mind that comes with comprehensive protection.”
“Kenya is one of Africa’s most dynamic digital economies and we are proud to enter the market alongside LOOP, a trusted and innovative local partner. Together, we are embedding protection into the device ownership journey, enabling more people to afford and safeguard the technology they rely on every day,” added Stephan Tan, CEO for Europe, Middle East, and Africa, and group chief investment officer at bolttech.
The partnership news follows another collaboration announced by bolltech, this time with GSMA’s Mobile World Live regarding a new whitepaper exploring how mobile network operators can unlock new revenue streams through embedded insurance.
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