Kenyans may soon have access to new life and medical insurance services as Bharti Airtel partners with Sanlam, one of South Africa’s leading financial providers. The mobile phone service provider has announced that it will be using its East, West and South African reach to help the insurer distribute its services.
Using Airtel’s telecommunications network, the insurer will supply life, health and general insurance to several African countries including Kenya, Uganda and Tanzania. The service provider will also include Ghana, Zambia, Nigeria and Malawi as part of its roster.
Chidi Okpala, Airtel’s Director and Regional Head in Africa said that the merger would give Africa access to a wide range of sophisticated products and services. This follows a bid by the Association of Kenya Insurers (AKI) to introduce fixed rates on insurance premiums.
The sector recently reported a 15.9% jump in premiums to KES 90.6 billion in 2011 from KES 79 billion the previous year. Airtel believes that their merger will give even more people access to medical insurance as soon as the project gains traction.