bolttech, a leading insurtech company based in Singapore, is set to enter the Kenyan market in October in partnership with LOOP, the digital banking service of NCBA Bank Group. Together, they will introduce a new product called LOOP Flex, which will offer comprehensive device protection integrated within the LOOP platform.
LOOP Flex will provide coverage for theft, accidental damage, liquid damage, and mechanical breakdowns, along with extended warranties. Repairs will be handled by certified service centers using authentic manufacturer parts, ensuring quality service for customers.
This strategic launch marks bolttech’s entry into the African market, following its successful operations in over 35 markets across North America, Europe, and Asia. The move reflects the increasing demand for digital-first insurance solutions in Africa, where smartphone penetration and digital banking usage are on the rise.
LOOP Digital Financial Services (DFS), the division responsible for LOOP, currently serves customers in six markets across East and West Africa. With the backing of NCBA Group, a prominent banking institution in East Africa, LOOP DFS caters to over 60 million customers, providing bolttech with a solid foundation to introduce LOOP Flex in the region.
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