Capex Life Assurance and a local insurance technology (InsurTech) start-up GrassRoot Bima will Wednesday launch a joint life insurance product for low-income earners.
The cover will be accessible through a mobile phone application platform called WazInsure. The two firms want to raise penetration rate in the country through the product dubbed ‘Maisha Enhanced Cover’.
Kenya’s insurance penetration currently stands at just 2.9 per cent.
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