Nairobi, 8th September, 2015 - East Africa’s leading Insurance Company, Jubilee Insurance has entered into a partnership with Imperial Bank to distribute life insurance products. The deal was officially signed today.
Jubilee Insurance Chief Executive Officer Patrick Tumbo said the partnership with Imperial Bank will help in improving access to life insurance products among Kenyans. “This partnership will enable Imperial Bank customers to access our life products with ease from their bank across the country”, said Mr.Tumbo.
“Jubilee Insurance intends to cushion Kenyans against the increasing cost of living and at the same time enable access to quality education through a reliable financial plan”, he added. Jubilee Insurance’s education life policy allows for tax relief, flexible policy premium payments and policy loans. The policy also offers a medical accident cover for both parent and child.
Speaking at the Jubilee offices during the event, Imperial Bank Head of Retail Banking Mr. Kalpesh Jotangia said that Imperial Bank is committed to offering value to its customers by diversifying its products and service delivery through innovation so as to anchor the bank’s positioning in the industry.
“The Marble Education Plan will be offered in addition to all other exciting benefits of the Marble Junior Savings Account which will include free monthly withdrawals, free quarterly statements, attractive interest rates offered on a tiered and discounts at various restaurants and retail stores across the country,” said Mr. Jotangia.
Banc assurance refers to the integrated business of selling insurance alongside conventional banking products. Although it is in its infancy in Kenya, bancassurance is touted as one of the effective ways of enhancing insurance penetration in Kenya.
Banks and Microfinance institutions provide an effective route-to-market given their well- established selling channels and financial expertise.
About Jubilee Insurance
Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa in 1937. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling both long-term and short-term insurance. Today, Jubilee is the number one insurer in East Africa with over 450,000 clients.
Jubilee Insurance is also the largest provider of medical insurance across East Africa that includes many of the region’s blue chip companies. Jubilee Insurance has a network of offices spanning Kenya, Uganda, Tanzania, Burundi and Mauritius. It is the only ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange. Its regional offices are highly rated on leadership, quality and risk management and have been awarded an AA- in Kenya and Uganda, and an A+ in Tanzania. Jubilee Insurance offers customized products that suit the needs of its client base however diverse.