UAP Old Mutual signs agreement to supporting more than 10,000 SMEs

Friday, November 5th, 2021 00:00 |

UAP Old Mutual has embarked on a tripartite agreement with SME Support Centre (SSC) and Kenbright to underwrite a customised financial solution for SMEs.

The cover provides life insurance, critical illness insurance, permanent disability as well a funeral cover and aims to reach more than 10,000 SMEs in 3 years.

UAP Old Mutual Group MD for the Life Business, Jerim Otieno, highlighted the importance of supporting SMES in their growth, “As these businesses seek to grow, they also look to attract and retain talent. A major factor of employee retention is not only about a conducive work environment and remuneration but also your level of support to them and their families. The SME support protect solution seeks to avail to support SMEs in their quest to attract and retain talent.”

The partnership will see SME Support Centre enhance its current engagement with SMEs as it guides them in starting up, growing, and protecting their busines. They will give direction on their employee value proposition propositions, “SME Support Protect is an innovative, affordable and timely product as it enhances the risk profile of the SMEs and makes them more attractive to advisors like ourselves and potential investors who may want to invest in them. We are excited about this partnership as it will enhance the SME Support Centre’s value-proposition to SMEs as we provide our business and investment advisory services.” Highlighted SSC CEO Linda Onyango.

Kenbright has over the years specialised in providing customised financial advisory services and this partnership allows them to extend their expertise to support the SMEs taking up the solution, “SMEs have become the backbone of the Kenyan economy and this partnership will enable Kenbright to efficiently administer insurance policies in this market segment”. Stated Ezekiel Macharia, Managing Director, Kenbright.

SMES can access this benefit for as low as Kes 15,000 annually. The premium will vary as per number of employees and benefits desired. The business owner has the option to choose what suits their requirements. The SME protect can be customised to suit the unique needs of SMEs.

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