Tech firm disrupts car insurance in Kenya with mobile-based services

A mobile-based insurance app is threatening to drive brokers out of town.

The service allows clients seeking motor insurance to log onto a firm’s platform to apply, pay and get cover from anywhere and at any time.

Upon purchasing a policy, a client receives an electronic version of the policy document via the app.

The online car insurance app, the brainchild of tech firm Griffins, eliminates the need for brokers and salespeople who have been blamed for taking payments but not submitting them to insurers, exposing clients to risk.

Griffin Insurance Company founder Jihan Abass and her team of technology experts created the insurance app to ease the woes customers encounter in dealing with brokers.

“The current insurance process is like using a feature phone in the age of smartphones; why would anyone use an old phone when newer technologies are available,” asks Ms Jihan, a graduate of Oxford University.

TWO COVERS

The company offers two types of cover — comprehensive and the mandatory third party only insurance.

The online application gets rid of the traditional paperwork and offers digital insurance services on the go.

Griffin marketing manager Ummulkher Mohamed said their team is on call around the clock to help customers in an emergency using the latest technology to deliver fast rescue in real-time at the click of a button.

The insured will, at the click of a button, know the nearest police station, hospital, garage or security firm closer to the scene of accidents and seek the help they require.

For instance, when a motorist’s vehicle develops a puncture on a lonely or insecure road, one can request for security from the nearest patrol vehicle whose crew will stay with them until the problem is sorted.

COST

Prospective clients will know the cost of their cover in seconds after uploading data onto the platform.

An assessor is then sent to the client to value the vehicle, validate it and issue an insurance sticker.

The platform enables clients to not only buy insurance policy but also other services.

“There is no need to call or drive to your insurance company and wait in line. From your app, you can do everything and so much more, including buying a policy, filing claims, finding a repair shop and requesting an ambulance. Everything is a click away,” said Ms Mohamed.

Clients will also be able to pay less for premiums with flexible cover tailored for their needs.

They will pick and adjust their period of insurance by choosing short-term or annual cover, depending on their needs. Customers are also able to pause their cover if they are not using the vehicle and reactivate it whenever they resume use.

COVER DOWNGRADE

Motorists will be able to downgrade their cover to only specific active benefits, excluding holiday and when a car is parked at home.

“You can save some money by paying your cover and only activating fire, theft and flood benefit, third party and accidental damage benefits, which will be put on pause because your car is not on the road, hence no risk,” said Ms Mohamed.

Drivers with less risk on the roads will pay less premium than those frequently on the road and, therefore, perceived to be more likely to be involved in accidents.

If a motorist sells a vehicle, they will have to cancel the policy via the app and return the insurance sticker to Griffin for a refund of part of their premium. However, this applies only to those who have not made any claim as at the time of cancellation and if the policy has not lasted for more than six months.

When a client cancels one’s policy through the app or the firm by issuing a 14-day notice, Griffin will refund the premium for the remaining period of insurance, based on applicable rates.