NAITOBI, Kenya, October 6 – Lipa Later Group, a buy-it-now, pay-later (BNPL) company, has announced a partnership with Lami Technologies, an insurance technology company, which will offer its consumers access to a reliable and affordable insurance for all products purchased using the Lipa Later platform.
Founded in 2017, Lipa Later is a trusted BNPL company operating in Kenya, Rwanda, Uganda and Nigeria, with the sole purpose of providing financial solutions to consumers by increasing their purchasing power.
Today, Lipa Later has become one of the preferred alternative payment options for African consumers. Thanks to this partnership, Lipa Later has integrated credit insurance with all products purchased through its platform. Consumers will be automatically protected during the down payment period on costs related to any loss and damage caused by an accident.
Claudine Gakundi, Country Manager, Lipa Later said, “Lipa Later has partnered with Lami to facilitate easy and seamless access to insurance for our consumers as we work to expand our digital offering and growing our footprint in the BNPL space. Through this partnership, Lipa Later customers will have access to affordable insurance services for items they purchase through us. Creating a process where we move away from the traditional and expensive method of buying insurance to a quick, transparent and affordable method is a great opportunity to expand access to insurance.
Waithera Thingrui, Head of Business Growth at Lami Technologies, said, “Lami Technologies has spearheaded the transition to affordable and reliable insurance in Africa. We aim to create inclusive prosperity in the region by developing coverage for people from different backgrounds. By partnering with Lipa Later to automatically insure products purchased through its platform, we are not only driving inclusion in the insurance industry, but also improving the use of insurance to increase acquisition and retention. client. In doing so, we also connect businesses to a wider variety of insurance products that add value to the business while building customer trust and loyalty. We look forward to continuing to work with our partners to continue delivering relevant solutions that provide businesses and individuals with access to transparent and efficient insurance products.
Lami Technologies was founded in 2018 to solve the problem of low insurance take-up in Africa. Despite having 17% of the world’s population, Africa is one of the most uninsured places in the world. Using innovation and technology, Lami is revolutionizing insurance for policyholders and businesses looking to bridge the gap by making coverage affordable for all Africans.
Lami’s insurance technology is a powerful tool that provides businesses with ease in identifying, pricing and integrating insurance options with the ability to combine two or more products for effective coverage.
Through this partnership, all Lipa Later customers in its current markets of Kenya, Uganda, Rwanda, Tanzania and Nigeria will have their purchased products covered by comprehensive insurance.