- NCBA Group has introduced private motor insurance services on its LOOP app.
- Eligible customers with valid motor vehicle logbooks can compare quotes, buy cover and renew policies digitally.
- The platform offers Third Party, Standard Comprehensive and Premier Comprehensive insurance.
- NCBA says the service is designed to reduce paperwork and the need for multiple physical interactions.
- The insurer also sees digital distribution as one way of improving access to insurance in Kenya.
NCBA Group has expanded the services available on its LOOP app by introducing private motor insurance for eligible customers. The service allows motorists to handle several stages of the insurance process from their mobile devices. Customers can compare available quotes before selecting a policy that matches their needs. They can also purchase new cover or renew an existing policy through the platform.
The service was developed jointly by LOOP Digital Financial Services and NCBA Insurance. It is available to customers who meet the required eligibility conditions and have valid motor vehicle logbooks. The digital process also gives users access to their policy documents after completing their transactions. NCBA says the move is intended to make motor insurance easier to access and manage.
Three insurance options available
Motorists using the LOOP platform can choose from three private motor insurance products. The options cover different levels of protection, allowing customers to select cover based on their individual requirements. Third Party Cover is the most basic option among the three products. It protects the policyholder against liability arising from injury to third parties or damage to their property.
Standard Comprehensive Cover provides the third-party protection included in basic cover while extending protection to the insured vehicle. The policy covers risks such as accidents, theft and fire. Premier Comprehensive Cover goes beyond the standard comprehensive package by adding extra services to the benefits provided under the standard option. Customers can therefore consider the different levels of cover before purchasing a policy.
The new service brings several motor insurance activities together within the LOOP app. Instead of handling different stages through separate manual channels, eligible customers can review quotes and make their preferred selection digitally. The platform supports both new policy purchases and renewals. Users can also access their insurance documents through the app after completing the process.
NCBA’s move adds insurance to a wider range of financial services that can be accessed through its digital ecosystem. The company says customers can manage their insurance needs from one platform rather than relying on several physical or manual touchpoints. This approach is intended to make the process more convenient for motorists. It also reduces the amount of paperwork traditionally associated with insurance transactions.
NCBA Insurance Managing Director and CEO Stella Njung’e said the service addresses some of the difficulties customers have traditionally faced when obtaining motor insurance. She said the company wanted to bring the entire private motor insurance journey into one digital platform. The process is designed to reduce the number of interactions required to complete an insurance transaction. It also seeks to limit the paperwork involved.
“By enabling customers to complete the entire private motor insurance journey within the LOOP App, we are simplifying a process that has traditionally required multiple touchpoints and significant paperwork,” Njung’e said.
The introduction of motor insurance on LOOP forms part of NCBA’s broader strategy of using digital channels to deliver financial products. By combining insurance transactions with other services available through its digital platform, the group is seeking to give customers more ways to manage their financial needs remotely. The motor insurance feature adds another service that can be accessed without visiting a branch. Eligibility requirements still apply to customers seeking to use the service.
NCBA also sees the digital distribution of insurance as a way of reaching more motorists. The company estimates Kenya’s insurance penetration at about 2.4 per cent, highlighting the relatively limited uptake of insurance products in the country. Digital platforms can give customers easier access to information about available insurance options. They can also allow motorists to compare products before completing a purchase.
The LOOP motor insurance service gives eligible customers an alternative to visiting physical insurance offices for routine transactions. Customers can review quotes, choose their preferred level of protection and complete purchases or renewals through the app. The availability of different products also gives motorists options depending on the level of cover they require. NCBA’s expansion into digital insurance is part of the broader shift towards technology-driven access to financial services in Kenya.
