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East Africa’s largest insurance group, Jubilee Holdings Limited, has signed a deal with Credit Bank in a move that will see the two entities launch education and investment plans through the Bancassurance model.
The plan to be rolled out by Credit Bank through ‘My Friend Insurance Agency’’ seeks to focus on ensuring that customers of both entities build an education fund and a savings portfolio over a period of time through the bank’s Bumblebee Account, as well as Jubilee Insurance’s array of investment and education plans like Fanaka and Career Life Plus.
This will be facilitated through the use of Bancassurance sales officers strategically positioned at the bank’s 17 branches countrywide.
Jubilee Insurance and Credit Bank see this as an opportunity to entrench a saving culture among Kenyans that currently stands at 11.2 per cent of GDP, according to the latest report by the National Treasury.