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From L-R: Bente Krogmann, CEO mTek , Chris Osore, Director mTek, Grace Karanja, Operations Manager BuySimu at the MoU signing event.
- mTek and Britam Partner with BuySimu to Offer Insurance for Phones in Kenya
mTek, a leading Kenyan-based digital online insurance platform known for its seamless and convenient access to insurance products, has forged a partnership with BuySimu to extend coverage for phone products.
BuySimu specializes in financing Apple products, including iPhones ranging from iPhone XS to iPads and Macbooks.The collaboration comes as a boon to over 770,000 Apple product users in the country, who often find themselves grappling with losses incurred through the gadgets without any form of compensation. In this venture, mTek will provide the technology distribution while Britam ensures seamless underwriting.
Bente Krogmann, mTek CEO, emphasized: “The provision of insurance coverage for devices translates into reduced instances of defaults resulting from phone loss or damages, thereby bolstering customer satisfaction. Improved customer satisfaction levels contribute to enhanced customer retention rates, fostering long-term relationships and loyalty.”
Evah Kimani, Britam’s Director of Partnerships and Digital, said: “We are delighted about this partnership giving Buy Simu a solution that meets their needs.This is in line with our purpose of Safeguarding dreams and aspirations.”
Grace Karanja, Operations Manager at BuySimu, expressed enthusiasm about the partnership, stating, “We are thrilled to partner with mTek to offer insurance cover to our esteemed clients.By integrating gadget insurance into our offerings, BuySimu actively mitigates risks associated with the device for both consumers and the company. This initiative enhances financial security by protecting against potential financial losses stemming from device-related incidents.”
A recent report by the International Data Corporation (IDC) indicates that smartphones now constitute a 72 percent share of overall mobile phone shipments to the country.
With several affordable financing options becoming available, the penetration of Apple devices such as iPhones is expected to increase further, driven by high demand especially from the youth and corporate organizations. Studies show that currently, Apple devices make up about 2.5 percent of over 30 million active mobile phone users in Kenya.
