In an increasingly digital world, technological advances have a direct impact on the way companies do business. The technological boom is changing so fast that businesses have to keep on adjusting to keep up with the ever-emerging new trends.
It is important to note that technological convergence is increasingly important to unify processes, tools, methods, and diverse sectors. Technology is like a train that has long left the station and those not on board risk being left out, forever.
Technology has become key in the sectors such as insurance in Kenya. For years, the insurance sector has lagged behind in terms of uptake, making Kenya’s insurance penetration among the lowest in the region. Lack of innovation has always been blamed.
But companies such as Zamara are changing the insurance atmosphere in Kenya through technology. Over the years, Kenya has seen a spike in the uptake of insurance on digital platforms and as such is committed to accelerating and enabling financial inclusion in Kenya by providing easily accessible pensions and insurance solutions online.
The company has launched the eZamara Online Portal which will allow customers to compare and buy insurance products at their convenience.
Zamara believes that the new portal will help in providing customers with a one-stop shop for all their insurance needs with the process becoming more efficient. This is a first-of-its-kind initiative that Zamara is rolling out as part of its digital transformation journey and would go a long way in benefiting the customer.
“With over 25 years of experience in the insurance industry, we understand the evolving needs of our customers and have made significant investments in product development, innovation, and research to help bridge the penetration gap in the country. With an investment of over Ksh 300 million, we are committed to providing the best possible service to our customers,” said Mr. Sundeep K. Raichura, the Group CEO of Zamara Group.
“We cannot underestimate the threat of disintermediation in an increasingly diversified, online economy, in a sector where traditional insurers ought to be strengthening the digital capabilities of their agency force while exploring supplemental platforms and partnerships,” he added.
Insurers have an opportunity to capitalize on enhanced attention and higher trust levels to grow the overall pie and their own market share by developing more customized, adjustable coverages and enhanced advisory services.
Vital segments of the market want greater coverage and pricing flexibility, as well as new sources of insurance, hence, having a single and easily accessible portal will help bridge this gap.