Browsing: Bancassurance in Kenya

• Faulu sees growth in its bancassurance business following the automation of its insurance sales in 2020
• Sales from the bancassurance agency have so far hit Ksh 327 million this year, a 31 per cent growth compared to a similar period last year
• The financial institution added that it is targeting to reach one million customers within a year as it rolls out its technology strategy which has digitized its entire operations

Faulu Microfinance Bank has seen significant growth in its bancassurance business following the automation of its insurance sales last year.

The Bank says it shrugged off a tough operating environment due to the coronavirus pandemic, to record increased uptake of insurance products through its bancassurance unit.

Overall sales from the bancassurance agency have so far hit Ksh 327 million this year, a 31 per cent growth compared to a similar period last year, driven by strong demand across the …