Zamara unveils aggregator portal in race for business – Business Daily
Zamara Group Group Chief Executive Officer Sundeep Raichura speaks at Panafric Hotel in Nairobi on October 18, 2018, during the Kenya Pension Fund Investment Consortium. PHOTO | SALATON NJAU | NMG
Financial services firm Zamara Group has launched an online portal that allows customers to buy insurance as it races to bag a bigger share of the brokerage business.
Unveiled yesterday, the aggregator portal dubbed e-Zamara seeks to enhance client freedom when making policy calculations and comparing costs from a list of providers.
The platform has brought together a total of 18 insurers and will act as a one-stop shop for sector products with Zamara acting as host firm.
Via the site, interested clients will have the leeway to choose an array of products spanning motor insurance, retirement pension plans, domestic packages, and travel insurance among others.
Zamara Chief Executive Officer Sundeep Raichura said the portal marks a huge step in the transformational service delivery journey to a market that is highly dynamic.
“I am especially happy that we are having this launch during Customers Services Week because eZamara is about responding to the needs of an increasingly tech-savvy generation in Kenya,” said Raichura.
Senior inspection officer at the Insurance Regulatory Authority (IRA) Mary Nkoimu, who spoke on behalf of CEO Godfrey Kiptum, said the emerging market changes will be pivotal in informing actions of industry players.
“We are proud to be associated with Zamara for taking this step and having a portal where people can log in, identify what they need, compare the prices and assess whether they meet their needs,” said Nkoimu.
The launch comes at a time when insurance reach has been waning in recent years, standing at 2.3 percent as of December 2020. The industry is thus under intense pressure to innovate and outpace existing traditional brick-and-mortar systems.
Aggregator portals for insurance firms have been on rapid growth across the globe, with advanced economies such as the UK attaining more than half of total private auto insurance sales through aggregator channels.
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