Britam in partnership with Bismart has launched Elimu Smart, a short-term school fees insurance cover.
The policy protects school-age children from dropping out in the unfortunate event of a parent's or guardian's death, permanent disability, or critical illness.
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The solution is entirely digital, with premiums as low as Sh1,000 per year. Britam Retail Business general manager Njeri Jomo stated during the launch that the launch of Elimu Smart aims to assist parents in paying school fees for their children.
“We are aware of how hard parents work to make ends meet especially in regards to payment of school fees for their children and more so given the tough economic situation that we are facing globally,” Jomo said.
The amount covered is limited to the child's current school fees. This ensures that the child's education is uninterrupted.
"The product protects children from dropping out of school in the unfortunate event of a parent’s or guardian’s death, permanent total disability, or diagnosis of critical illness," she added.
It also allows you to choose the total amount of school fees to be covered as well as the number of years to be covered. The product is aimed at parents and guardians of children ranging in age from kindergarten to university.
“We are leveraging on digital platforms and technologies to connect customers to the best insurance and investments solutions available in the market,” said Eunice Maina the managing director of Bismart, which is an insurance aggregator.
The company provides access to insurance solutions by co-creating relevant products with existing affinity groups such as SACCOs, schools, welfare groups, and microfinance institutions and connecting them to insurance companies via technology.
Britam recently unveiled its 2021-2025 Strategic Plan, which aims to transform the organization by prioritizing customer needs and deploying customer insights and analytics to meet those needs.
Britam's new strategy aims to capitalize on its technological investments to improve efficiency and expand its customer base in order to drive growth.
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