SBM Bank Kenya has launched a new subsidiary, SBM Bancassurance Intermediary Limited, in a move aimed at simplifying access to insurance services through the banking system.
The new platform is expected to offer customers integrated financial services by bundling insurance solutions—such as personal, business, and employee benefit covers—into their banking experience.
SBM Bank Kenya Chief Executive Officer Bhartesh Shah said during the launch event in Nairobi that the initiative seeks to demystify insurance and streamline access for ordinary Kenyans.
“We identified an urgent need to eliminate the tedious procedures associated with insurance. Our goal is to make it easier for Kenyans to protect their families, assets, and businesses without navigating multiple systems,” Shah noted
The subsidiary will provide personalized support to help clients select suitable insurance packages based on their needs and risk profiles. According to the bank, it has negotiated competitive cover rates and will offer customers a dedicated claims channel to ease documentation and accelerate settlement timelines.
Ruth Njoroge, the Principal Officer at SBM Bancassurance, said the new platform is designed to support individuals and businesses seeking flexible, inclusive coverage options.
“Insurance plays a critical role in long-term financial planning—from education to retirement. Our solutions will adapt to diverse lifestyles and professional needs,” she said.
SBM also plans to expand digital access to insurance services via its Mfukoni mobile banking platform and will offer 24-hour support through its call centre. This will allow users to initiate claims, seek consultations, and manage policies remotely.
The bank’s entry into the bancassurance market comes as financial institutions in Kenya increasingly seek to diversify their service offerings amid rising demand for more accessible risk protection
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