Online retailer Jumia to sell insurance in deal with Lami Technologies

Africa’s biggest online retailer Jumia is set to offer digital insurance products following a partnership with Lami Insuretech, an insurance technology company.

The partnership will see Lami Technologies provide a variety of insurance products from different insurance firms on the JumiaPay app.

“Our goal is to onboard products from more than 30 underwriters on Jumia before the end of 2020,” said Jihan Abass, Founder and CEO of Lami.

“This partnership marks an important milestone for the insurance industry, as this offers an opportunity to access online customers, in a context where agency sales took a hit due to the COVID19 pandemic.”

Customers will be able to browse insurance products, receive quotes, compare benefits and purchase their policy within seconds on the JumiaPay app.

“The JumiaPay app wants to make everyday payments easy and effortless, while allowing our consumers to also access a multitude of financial services and rewards such as cashback. We are delighted to partner with Lami to facilitate access to insurance seamlessly to our consumers in Kenya ,” stated Nelly Movine Head of Financial Services, Jumia Kenya.

According to the Lami CEO, customers will be able to process their claims in record time due to the digitisation of claims handling and settlement.

“Customers will gradually see a variety of digital insurance products that unravel the current offering and create value. Lami is set to democratise insurance through digitization,” added Jihan Abass.

Last year, Lami Technologies launched an entirely digital car insurance app known as Griffin Motor App.

Jihan Abass, founder, CEO Lami Insurtech said the application targets to digitise car insurance for over 1 million Kenyan drivers who have to go through long queues to be served.

She explained that customers may pause, downgrade, or upgrade their policy as they wished.