Companies’ need to go tech has been informed by a rising number of tech-savvy working class. According to the latest Communications Authority Sector statistics report, as of last December, the number of active Internet/data subscriptions rose to 46.7 million recorded during the same period the previous year.
Local companies must adopt online platforms to generate traction with tech savvy Kenyans. Kenya has also scored a world first; leading to numerous multinationals sending emissaries to seek an understanding on how mobile payments works. We pay for fuel, food fares, airtime and deposit money into bank accounts via mobile platforms.
Mobile phones contain Know-Your-Customer capabilities that enable individuals to open micro-insurance accounts to register and pay low premiums for various insurance premiums.
While annual premiums are beyond the reach of many people, there is a need to get monthly payments customers can subscribe to with digital platform providers playing a key intermediary role between customers and insurance companies.
M-Tek settles annual policies for customers who in turn make monthly payments for their policies. That is a major win for Kenyans who can now pay for a one-day insurance health cover for as low as Ksh. 1,000 per month. There are now more products being marketed online by micro-insurance providers from a single portal. This portal enables Kenyans to compare various policies before making payments.
Information about various products is also available with many insurance providers also maintaining customer e-desk to facilitate feedback round the clock. The future is digital, ignore it at your own peril.