mTek and UzaPoint to Offer Digital-Driven Insurance Products to SMEs

mTek, a leading digital insurance platform in Kenya, has entered a strategic partnership with UzaPoint. The partnership will offer fully digital insurance products tailored for Small and Medium Enterprises (SMEs). 

It will also empower UzaPoint to offer comprehensive digital insurance products to their SME customers through mTek’s platform.

mTek Partners With UzaPoint For Better Insurance Coverage

This collaboration marks a significant step towards increasing accessibility and convenience for SMEs seeking comprehensive insurance coverage.

With this unique move, SMEs can now obtain insurance coverage for risks such as theft, fire, floods, and other perils, along with optional covers like business interruption due to hospitalization, all through the mTek platform and protect their businesses in case of a peril.

Bente Krogmann, CEO of mTek assured that SMEs will now obtain insurance covers for risks, including theft, fire, floods, and other perils, along with optional covers such as business interruption due to hospitalization, all through the mTek platform.

He said, “We are excited to partner with UzaPoint to improve accessibility and convenience via an integration that allows SMEs to easily purchase and manage insurance policies directly through the same system they use for other business operations, streamlining the entire process.”

Benefits Of The Partnership

With the mTek platform, UzaPoint can offer various policies, generate and share quotes with customers, and complete the purchase process entirely digitally. It also  eliminates the need for emails or phone calls to agents or brokers. 

This partnership will drastically reduce the insurance sales process from 10 days to just 10 minutes, providing a more efficient and user-friendly experience for SMEs.

Mr. Victor Magaki, COO of UzaPoint, “We are thrilled to partner with mTek as we work to enhance insurance access for SMEs, which are the backbone of our economy.”

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“This partnership will increase access to digital insurance solutions for SMEs, simplify the insurance purchase process, and promote financial inclusion through innovative and accessible insurance products.” 

Additionally, the integration of insurance products within the UzaPoint ecosystem will be facilitated through an API, allowing customers to purchase insurance directly from a trusted source within an environment they are already familiar with.

mTek Collaboration With UzaPoint To Mitigate Uncertainties 

This seamless integration is expected to further enhance the user experience and increase the adoption of digital insurance solutions among SMEs.

Statistics from the Ministry of Trade and Industry indicate that SMEs contribute up to 24 percent of the country’s GDP, account for over 90 percent of private sector enterprises, and employ 14.1 million people, representing 93 percent of the total labor force.

However, many SMEs face significant risks and uncertainties that can lead to business closures. 

This partnership between mTek and UzaPoint aims to address these challenges by providing SMEs with the necessary tools to secure their businesses and promote long-term sustainability.

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