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NCBA Deepens Digital Transformation with Motor Insurance on LOOP App
The new solution allows customers to compare quotes, buy cover, renew policies and access documents from one digital platform.
NCBA Group is expanding the services available on the LOOP App with an integrated private motor insurance solution.
The new service allows eligible customers to manage their motor insurance from one platform.
Customers can compare quotes and complete the underwriting process on the app. They can also purchase cover, renew policies and access their policy documents.
The solution brings together LOOP DFS and NCBA Insurance. Together, the two subsidiaries are simplifying access to financial services through technology.
The move also supports NCBA Group’s wider digital transformation strategy. In addition, it aims to create more seamless experiences across its digital ecosystem.
Making Motor Insurance Easier
Motor insurance can involve several steps for customers.
They may need to compare different options, complete paperwork and follow up on their policies. However, the new LOOP solution brings these steps together digitally.
As a result, customers can complete the entire insurance journey through the app.
“At NCBA Group, our digital transformation journey is centered on delivering solutions that make financial services simpler, faster and more accessible,” said Stella Njung’e, Managing Director and CEO, NCBA Insurance.
She said the collaboration between LOOP DFS and NCBA Insurance brings together the Group’s digital and insurance capabilities.
“By enabling customers to complete the entire private motor insurance journey within the LOOP App, we are simplifying a process that has traditionally required multiple touchpoints and significant paperwork,” she added.
Three Motor Insurance Options
Eligible LOOP customers with a valid motor vehicle logbook can choose from three cover options.
Third Party Cover protects against third-party injury or property damage.
Standard Comprehensive Cover provides third-party protection and covers the insured vehicle against accidents, theft and fire.
Meanwhile, Premier Comprehensive Cover offers the standard comprehensive benefits. It also includes enhanced convenience features and value-added services.
The options give customers the flexibility to choose cover based on their needs.
Growing LOOP’s Digital Ecosystem
The motor insurance service adds another financial solution to the LOOP App.
With more than one million app downloads, LOOP has continued to expand its digital financial services offering.
Customers can already access payments, savings and credit services through the platform.
Now, insurance adds another layer to the ecosystem.
For NCBA, the integration also reflects a broader shift towards digital financial services. Customers can access more solutions through platforms they already use.
Moreover, bringing insurance into LOOP can help reduce some of the barriers associated with accessing protection products.
Kenya’s insurance penetration remains low at about 2.4%. Therefore, digital platforms can play an important role in making insurance easier to access.
NCBA Deepens Digital Transformation with Motor Insurance on LOOP App
Technology Meets Everyday Financial Needs
The launch brings together NCBA Group’s banking, technology and insurance capabilities.
More importantly, it places motor insurance within a digital platform that customers already use.
Customers can now manage payments, savings, credit and insurance through a more connected digital experience.
As digital financial services continue to evolve, convenience is becoming an important part of how customers choose and use financial products.
For NCBA, the latest addition to LOOP is another step towards making financial services simpler, faster and more accessible.
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