Equity ventures into insurance with Equity Life Assurance.
Equity Group through its Equity Group Insurance Holding Limited has launched Equity Life Assurance. Equity Life Assurance Kenya (ELAK) will provide life insurance products to an underserved market, contributing to Equity Group’s objective of transforming lives and expanding wealth creation opportunities.
“ELAK will contribute to the trusted Equity brand by providing inclusive, affordable, innovative, and accessible insurance products to a majority of Kenyans who are not utilizing insurance solutions to secure much-needed protection of their lives, health, and wealth, or secure their financial futures through savings solutions.” Managing Director and Principal Officer of ELAK.
Equity Life Assurance Goal
ELAK’s goal is to give customers freedom and convenience when it comes to insurance solutions, payment, and location of coverage. This is as well as support and advice during the policy’s term.
They want to provide insurance to all types of consumers and to make it accessible, reasonable, and inclusive, in keeping with our mission of changing lives, restoring dignity, and extending wealth-creation prospects.
ELAK will also ensure that insurance solutions are easily accessible through a variety of distribution channels.
According to Equity Group CEO and Managing Director, Dr. James Mwangi, this comes at a very critical time when the economy is recovering from the impact of the COVID-19 pandemic.
“We realized that the greatest threat to wealth creation is when disaster strikes and the family and entities have no fall-back plan except removing capital from their businesses to meet such expenses. The insurance business of ELAK will be based on simplicity, openness, transparency, and trust.” Mwangi.
ELAK to co-create insurance products with Kenyans
Equity Life Assurance will co-create products with Kenyans so that they offer relevant products applicable to their daily lives. Equity Group will use technology to make insurance solutions widely available, providing Kenyans the flexibility to choose, pay for, and receive the insurance solutions they want.
