HFC partners with Britam to launch education insurance plan
NAIROBI, Kenya, June 29 – HFC, through its bancassurance intermediary, has partnered with Britam Holdings Plc to launch a convenient and flexible education policy dubbed Elimu.
The product is designed to enable parents to provide uninterrupted quality education to their children with high returns, flexible terms and guaranteed payouts.
The education plan will be exclusively available from HFC and underwritten by Britam Holdings Plc as part of HFC’s diversification strategy which has seen it provide its customers with full banking services.
Robert Kibaara, HF Group CEO, said, “We are deepening our full-service banking offering, including bancassurance solutions, and this product will provide our customers with a way to plan and save for a quality education for their children while increasing insurance penetration in the country, which currently stands at just 3 percent.
“The collaboration between HFC and Britam will provide a customer-beneficial solution in an area that remains critical to all economies and the education sector,” he added.
The group CEO said the solution has also been tailor-made to meet diverse customer needs and allows for a high age limit of up to 60 years and seniority limits as low as 6 years.
“This partnership aligns well with Britam’s strategy of being a customer-centric organization by ensuring that we continually identify partners to work with to customize solutions aligned with consumer needs. As the leading life insurer in East Africa for a considerable number of years, education planning is something we pride ourselves on being your ideal partner of choice. Elimu is the brainchild of two brands that aim to deliver more value to HFC customers by building on our heritage and track record to ensure parents are able to give their children a quality education” Ambrose Dabani, Director principal of Britam Life Insurance,
Kibaara added that “adaptability to customer needs and excellence in service delivery are some of our main pillars and we will continue to partner with like-minded institutions to innovate products and services that not only promote financial inclusion, but also align with emerging customer needs.