Britam Holdings has joined forces with mTek, a Kenyan insurance technology company run by entrepreneur Bente Krogmann in Nairobi, to offer small businesses in Kenya mobile-enabled business protection against fire and burglary.
More than 100,000 MSMEs across the country will benefit from the partnership between mTek and Britam Holdings, a leading insurance company led by multimillionaire businessmen Peter Munga, James Mwangi, and Jane Wanjiru Michuki in Kenya. MSMEs will use mTek’s mobile application to access the service.
Business owners will have the option to select between basic property coverage with an additional personal accident cover, interruption due to hospitalization cover, and coverage for income loss in the event that an accident-related permanent disability or hospitalization results in a business interruption from the policy.
Evah Kimani, director of digital and partnership at Britam, commented on the recent partnership between Britam and mTek, stating that it will raise the risk profile of business owners, allowing them to gain access to credit and broaden their value chains.
In order to increase penetration among the uninsured, Krogmann, mTek’s CEO and co-founder, said cooperation among industry participants in the development of customized products is essential.
“Small business owners can enjoy the seamless purchase of Britam Biashara and claims processing via the mTek platform which delivers convenience thus saving business people time to concentrate on more pressing issues,” Krogmann said.
Founded in 2020 by Krogmann, mTek operates as a digital online insurance platform that provides an entirely paperless ecosystem for the insurance industry.
Its recent collaboration with Britam comes nearly six months after it received a $3-million investment commitment from Finclusion Group, an African-focused fintech platform, as part of its plans to expand operations across East Africa.
mTek has registered more than 20,000 users and collaborated with over 35 Kenyan underwriters since its inception nearly two years ago to consistently provide clients with a better and more transparent experience when purchasing and renewing their insurance policies.
