UAP Old Mutual has entered into an agreement with the SME Support Centre (SSC) and Kenbright to insure a customized financial solution for SMEs. The new cover provides life insurance, critical illness insurance, permanent disability and funeral cover.
SMEs can access this benefit for as low as Ksh. 15,000 annually. The premium will vary as per number of employees and benefits desired. The SME protect insurance plan can be customized to suit the unique needs of SMEs. The new plan targets to reach more than 10,000 SMEs in the next 3 years.
The partnership will see the SME Support Centre enhance its current engagement with SMEs as it guides them in starting up, growing, and protecting their businesses. This will give direction on their employee value propositions.
Signing at the signing of the agreement, SSC CEO Linda Onyango said, “SME Support Protect is an innovative, affordable and timely product as it enhances the risk profile of the SMEs and makes them more attractive to advisors like ourselves and potential investors who may want to invest in them. We are excited about this partnership as it will enhance the SME Support Centre’s value-proposition to SMEs as we provide our business and investment advisory services.”
UAP Old Mutual Group MD for the Life Business, Jerim Otieno, highlighted the importance of supporting SMES in their growth, “As these businesses seek to grow, they also look to attract and retain talent. A major factor of employee retention is not only about a conducive work environment and remuneration but also your level of support to them and their families. The SME support protect solution seeks to avail to support SMEs in their quest to attract and retain talent.”
Kenbright specializes in providing customized financial advisory services. This partnership allows them to extend their expertise to support the SMEs taking up the solution.