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    KPA MD Post to be readvertised after those interviewed failed to meet threshold

    10% of Kenyans completely unable to service their loans says report

    Employers continue deducting salaries in 2021 due to Covid-19

    17% of All Food Available at Consumer Levels is Wasted Says UN

    17% of All Food Available at Consumer Levels is Wasted Says UN

    Electric Boda-Bodas’ Launched in Kenya

    Electric Boda-Bodas’ Launched in Kenya

    World Animal Protection calls for an End to wildlife trade

    World Animal Protection calls for an End to wildlife trade

    Farmers bet on indigenous foods to boost incomes and tackle malnutrition

    Farmers bet on indigenous foods to boost incomes and tackle malnutrition

    Commodity prices to go up following new charges

    Commodity prices to go up following new charges

    tvN – Korea’s top entertainment brand debuts on DSTV

    tvN – Korea’s top entertainment brand debuts on DSTV

    AAR Insurance embrace paperless model with new mobile app

    AAR Insurance embrace paperless model with new mobile app

  • Markets
    Electric Boda-Bodas’ Launched in Kenya

    Electric Boda-Bodas’ Launched in Kenya

    World Animal Protection calls for an End to wildlife trade

    World Animal Protection calls for an End to wildlife trade

    JKIA and Moi International Airport named the best in Africa

    JKIA and Moi International Airport named the best in Africa

    tvN – Korea’s top entertainment brand debuts on DSTV

    tvN – Korea’s top entertainment brand debuts on DSTV

    Samsung Named Top Global TV Manufacturer

    Samsung Named Top Global TV Manufacturer

    Locally assembled Proton Saga saloon car released to the market  

    Locally assembled Proton Saga saloon car released to the market  

    Hennessy becomes NBA’s first global spirit partner

    Hennessy becomes NBA’s first global spirit partner

    KenGen to Pay Ksh1.65 Billion in Dividends

    KenGens’ half year profits hit Ksh6.8 billion

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    Suzuki unveils latest entrant into the Kenyan market

  • Real Estate
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    New Construction Technology to help NHC deliver affordable homes

    NCBA partners with Shelter Afrique to finance properties in 5 counties

    NCBA partners with Shelter Afrique to finance properties in 5 counties

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    Greenpark Estate injects Ksh15M to its development

    LG’s OLED Honoured at the Technology and Engineering Awards

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    Kenya’s position as a Digital Media Hub gaining momentum

  • Tech
    Electric Boda-Bodas’ Launched in Kenya

    Electric Boda-Bodas’ Launched in Kenya

    Konza Technopolis, Israel to host Innovation Challenge

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    TikTok releases H2 2020 Global Transparency Report

    TikTok releases H2 2020 Global Transparency Report

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    10% of Kenyans completely unable to service their loans says report

    Employers continue deducting salaries in 2021 due to Covid-19

    17% of All Food Available at Consumer Levels is Wasted Says UN

    17% of All Food Available at Consumer Levels is Wasted Says UN

    Electric Boda-Bodas’ Launched in Kenya

    Electric Boda-Bodas’ Launched in Kenya

    World Animal Protection calls for an End to wildlife trade

    World Animal Protection calls for an End to wildlife trade

    Farmers bet on indigenous foods to boost incomes and tackle malnutrition

    Farmers bet on indigenous foods to boost incomes and tackle malnutrition

    JKIA and Moi International Airport named the best in Africa

    JKIA and Moi International Airport named the best in Africa

    Safaricom PLC Announces A 14.4 Per Cent Increase In Half-year Net Profit

    Safaricom cracks whip on rogue MPESA agents

    Commodity prices to go up following new charges

    Commodity prices to go up following new charges

    AAR Insurance embrace paperless model with new mobile app

    AAR Insurance embrace paperless model with new mobile app

    • Agribusiness
    • Banking
      Safaricom PLC Announces A 14.4 Per Cent Increase In Half-year Net Profit

      Safaricom cracks whip on rogue MPESA agents

      Bill in parliament seeks to have CBK regulate Mobile lenders

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

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      DTB Bank set to shut down 6 branches

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      Housing Finance launches new money transfer service

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      Businesses to benefit from Ksh1.6 Billion in Aid from DTB

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      Impending layoffs at Absa Bank Kenya Plc

      Family Bank opens its 92nd branch

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    • Insurance
      AAR Insurance embrace paperless model with new mobile app

      AAR Insurance embrace paperless model with new mobile app

      Minet feted Insurance Broker of the Year

      Minet feted Insurance Broker of the Year

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

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      Pension Schemes Maintain Positive Performance in Q4 of 2020

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    • Opinion
      IoT predictions for 2021: Smarter tech will make better business

      IoT predictions for 2021: Smarter tech will make better business

      KRA Goes After Rich Individuals, Firms Over Sh250 Billion

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      Crisis as young Kenyans now embrace Crime as lifestyle

      Crisis as young Kenyans now embrace Crime as lifestyle

Kenyan Business Feed
  • Home
  • News

    KPA MD Post to be readvertised after those interviewed failed to meet threshold

    10% of Kenyans completely unable to service their loans says report

    Employers continue deducting salaries in 2021 due to Covid-19

    17% of All Food Available at Consumer Levels is Wasted Says UN

    17% of All Food Available at Consumer Levels is Wasted Says UN

    Electric Boda-Bodas’ Launched in Kenya

    Electric Boda-Bodas’ Launched in Kenya

    World Animal Protection calls for an End to wildlife trade

    World Animal Protection calls for an End to wildlife trade

    Farmers bet on indigenous foods to boost incomes and tackle malnutrition

    Farmers bet on indigenous foods to boost incomes and tackle malnutrition

    Commodity prices to go up following new charges

    Commodity prices to go up following new charges

    tvN – Korea’s top entertainment brand debuts on DSTV

    tvN – Korea’s top entertainment brand debuts on DSTV

    AAR Insurance embrace paperless model with new mobile app

    AAR Insurance embrace paperless model with new mobile app

  • Markets
    Electric Boda-Bodas’ Launched in Kenya

    Electric Boda-Bodas’ Launched in Kenya

    World Animal Protection calls for an End to wildlife trade

    World Animal Protection calls for an End to wildlife trade

    JKIA and Moi International Airport named the best in Africa

    JKIA and Moi International Airport named the best in Africa

    tvN – Korea’s top entertainment brand debuts on DSTV

    tvN – Korea’s top entertainment brand debuts on DSTV

    Samsung Named Top Global TV Manufacturer

    Samsung Named Top Global TV Manufacturer

    Locally assembled Proton Saga saloon car released to the market  

    Locally assembled Proton Saga saloon car released to the market  

    Hennessy becomes NBA’s first global spirit partner

    Hennessy becomes NBA’s first global spirit partner

    KenGen to Pay Ksh1.65 Billion in Dividends

    KenGens’ half year profits hit Ksh6.8 billion

    Suzuki unveils latest entrant into the Kenyan market

    Suzuki unveils latest entrant into the Kenyan market

  • Real Estate
    17% of Kenyan Billionaires looking to buy a house in 2021

    17% of Kenyan Billionaires looking to buy a house in 2021

    Kenyan Firm awarded Most Innovative Community Developer 

    #OmokaNaAlma: This is how you get awarded Sh50,000 by Cytonn Real Estate

    Developing Countries Set To Lose Sh22 Trillion Due to COVID-19

    Commercial office rents fall 13pc in quarter 3 & 4 of 2020

    New Construction Technology to help NHC deliver affordable homes

    New Construction Technology to help NHC deliver affordable homes

    NCBA partners with Shelter Afrique to finance properties in 5 counties

    NCBA partners with Shelter Afrique to finance properties in 5 counties

    New Ksh350Million Commercial centre to be constructed in Athi River

    New Ksh350Million Commercial centre to be constructed in Athi River

    Greenpark Estate injects Ksh15M to its development

    Greenpark Estate injects Ksh15M to its development

    LG’s OLED Honoured at the Technology and Engineering Awards

    LG’s OLED Honoured at the Technology and Engineering Awards

    Kenya’s position as a Digital Media Hub gaining momentum

    Kenya’s position as a Digital Media Hub gaining momentum

  • Tech
    Electric Boda-Bodas’ Launched in Kenya

    Electric Boda-Bodas’ Launched in Kenya

    Konza Technopolis, Israel to host Innovation Challenge

    Konza Technopolis, Israel to host Innovation Challenge

    TikTok releases H2 2020 Global Transparency Report

    TikTok releases H2 2020 Global Transparency Report

    OPPO Announces Global Partnership with Volkswagen

    OPPO Announces Global Partnership with Volkswagen

    2 Kenyans selected to create African Inspired stickers for New Chat App

    2 Kenyans selected to create African Inspired stickers for New Chat App

    Mobile Phones contribute to the realisation of UN SDGs – 2020 GSMA report says

    realme awards fans to Valentines through DaretoLove Campaign

    realme awards fans to Valentines through DaretoLove Campaign

    Opera launch its new Chat App to rival WhatsApp

    Opera launch its new Chat App to rival WhatsApp

    IoT predictions for 2021: Smarter tech will make better business

    IoT predictions for 2021: Smarter tech will make better business

  • World Business
    OPPO Announces Global Partnership with Volkswagen

    OPPO Announces Global Partnership with Volkswagen

    World Engineering Day to Be Celebrated in Kenya

    World Engineering Day to Be Celebrated in Kenya

    How NASA Technology Can Help Save The World’s Largest Shark

    How NASA Technology Can Help Save The World’s Largest Shark

    After fight with US Authorities Huawei CEO now want talks with Biden

    After fight with US Authorities Huawei CEO now want talks with Biden

    Ford Vehicles to be powered by Android and Google apps in new deal

    Ford Vehicles to be powered by Android and Google apps in new deal

    Columbia Africa banks on primary and preventive healthcare to grow market share

    Columbia Africa banks on primary and preventive healthcare to grow market share

    DHL Express Named Best Employer in The World

    DHL Express Named Best Employer in The World

    Meet the founder of Safari Doctors Umra Omar

    Meet the founder of Safari Doctors Umra Omar

    Kenya to receive Ksh 1 billion from Google for economic recovery

    Kenya to receive Ksh 1 billion from Google for economic recovery

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    10% of Kenyans completely unable to service their loans says report

    Employers continue deducting salaries in 2021 due to Covid-19

    17% of All Food Available at Consumer Levels is Wasted Says UN

    17% of All Food Available at Consumer Levels is Wasted Says UN

    Electric Boda-Bodas’ Launched in Kenya

    Electric Boda-Bodas’ Launched in Kenya

    World Animal Protection calls for an End to wildlife trade

    World Animal Protection calls for an End to wildlife trade

    Farmers bet on indigenous foods to boost incomes and tackle malnutrition

    Farmers bet on indigenous foods to boost incomes and tackle malnutrition

    JKIA and Moi International Airport named the best in Africa

    JKIA and Moi International Airport named the best in Africa

    Safaricom PLC Announces A 14.4 Per Cent Increase In Half-year Net Profit

    Safaricom cracks whip on rogue MPESA agents

    Commodity prices to go up following new charges

    Commodity prices to go up following new charges

    AAR Insurance embrace paperless model with new mobile app

    AAR Insurance embrace paperless model with new mobile app

    • Agribusiness
    • Banking
      Safaricom PLC Announces A 14.4 Per Cent Increase In Half-year Net Profit

      Safaricom cracks whip on rogue MPESA agents

      Bill in parliament seeks to have CBK regulate Mobile lenders

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      DTB Bank set to shut down 6 branches

      DTB Bank set to shut down 6 branches

      Secure your future by saving with Metropolitan National Sacco

      Housing Finance launches new money transfer service

      Housing Finance launches new money transfer service

      Businesses to benefit from Ksh1.6 Billion in Aid from DTB

      Businesses to benefit from Ksh1.6 Billion in Aid from DTB

      Leak: 53 Kenyan banks, individuals Named in FinCEN Files For Illegal Sh6 Trillion Transactions

      Impending layoffs at Absa Bank Kenya Plc

      Family Bank opens its 92nd branch

      Family Bank opens its 92nd branch

    • Insurance
      AAR Insurance embrace paperless model with new mobile app

      AAR Insurance embrace paperless model with new mobile app

      Minet feted Insurance Broker of the Year

      Minet feted Insurance Broker of the Year

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Faulu Bank to lend Ksh 3 billion to SMEs to boost growth

      Pension Schemes Maintain Positive Performance in Q4 of 2020

      Pension Schemes Maintain Positive Performance in Q4 of 2020

      DigiTrust: ICEA Lion Group bets on technology in the rewarding money market field

      DigiTrust: ICEA Lion Group bets on technology in the rewarding money market field

      ICEA Lion Life appoints a new CEO

      ICEA Lion Life appoints a new CEO

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Octagon feted in 2020 World Pension Summit Innovation Awards

      Octagon feted in 2020 World Pension Summit Innovation Awards

      What do you need to know before purchasing car insurance?

      What do you need to know before purchasing car insurance?

    • Manufacturing
    • Opinion
      IoT predictions for 2021: Smarter tech will make better business

      IoT predictions for 2021: Smarter tech will make better business

      KRA Goes After Rich Individuals, Firms Over Sh250 Billion

      Digital Services Tax a desperate move caused by bad governance

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      Why Digital Services Tax is a retrogressive policy

      Why Digital Services Tax is a retrogressive policy

      How Citizen TV Became The Most Watched in Kenya

      How Citizen TV Became The Most Watched in Kenya

      This is the new Safaricom logo

      Fail or win? Mixed Reactions over Safaricom’s new logo

      After fuliza, Safaricom introduces another way to borrow money

      OPINION: Why Safaricom’s Fuliza is a rip off!

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      Crisis as young Kenyans now embrace Crime as lifestyle

      Crisis as young Kenyans now embrace Crime as lifestyle

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Minets’ premium financing solution to cushion insurance clients from Covid-19

by Neymar
June 11, 2020
in Health, Insurance, Markets, News
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Minet Kenya has launched insurance premium financing offering enabling easy payment of premium in instalments. This is in partnership with Momentum Credit Limited.

Minet Kenya Chief Executive Officer Sammy Muthui said the plan allows individuals and entities to pay deposit equivalent to 20% of the value of their insurance premium to activate the cover.

“In these rapidly changing times, we have been thinking about our clients and the challenges they are facing as a result of the Coronavirus disease (Covid-19) pandemic. Recent reports indicate that the pandemic has forced many Kenyans to cut down on their household expenditures including insurance premiums.  The unveiling of this insurance premium financing solution in in partnership with Momentum Credit Limited at this time reflects joint our commitment to providing financial relief to our customers as they deal with the effects of the pandemic,” Mr. Muthui said.

 Minet Kenya Chief Executive Officer Sammy Muthui  (right) and   Momentum Credit Chief Executive Officer Mr. Job Muriuki   sign  insurance premium financing partnership.

Mr. Muthui added that the premium financing solution will mean that clients will not have to liquidate their necessary assets or spend key funds to settle premium payments, especially during this difficult time.

It is mandatory for premiums to be paid upfront by policyholders as required by the Industry regulator, Insurance Regulatory Authority. 

“The cash-and-carry rule in effect at the moment requires that the insured pays premium in full before a policy is activated. However, many Kenyans are not able to pay their insurance premium upfront as required by the law. This financing solution will now make it easy for them to meet this requirement,” Mr. Muthui added.

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The insurance solution now makes it easy for Minet to enter into an agreement with the underwriter and the insured whereby Minet will pay immediately upto 80% of the insurance premium of the insured.

The product will enable the insured to leverage their assets for other business critical needs.

Payments will be spread over an agreed period of between one and 11 months and Minet will act as the billing and collecting agent.

“This insurance solution is available to both individuals and organisations and covers annual premium range of KSh5, 000 and KSh 2, 000, 000,” Mr. Muthui noted.

Momentum Credit Chief Executive Officer Mr. Job Muriuki said the partnership with Minet ties in with Momentum Credit’s vision of offering transformative solutions.

“The stress of paying premiums in lump-sum is a thing of the past and one can pay in affordable installments over 11 months. This is a revolutionary product which makes even comprehensive insurance an affordable reality for all motor vehicle owners. ” Mr. Muriuki said.


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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