Phones push up cover sales
CPF Financial Services Group Managing Director Hosea Kili. FILE PHOTO | SALATON NJAU |
What you need to know:
- A CPF Financial Services product has recorded significant growth attracting 3,000 active members.
- It enables customers to register and start contributing towards their pension using mobile phones.
Kenyans are increasingly using mobile phones to access insurance products and pension schemes.
A product launched late last year by CPF Financial Services has recorded significant growth attracting 3,000 active members.
It enables customers to register and start contributing towards their pension using mobile phones.
“We are encouraged by what we are seeing in terms of numbers especially considering that uptake of pension products in the country is still low. We expect to have signed up at least 10,000 additional customers by the end of the year,” said CPF Financial Services Group Managing Director Hosea Kili.
He said the service, called M-Pension, is expected to continue growing due to the easy access.
“What we are witnessing is a demographic transformation of the financial services sector. With this product, we have been able to demonstrate that technology remains the number one driver of financial inclusion,” said Mr Kili.
