Online insurance comparison portal launched in Kenya

Consumers will now be able to shop online and compare insurance products and services from various companies across the region.
This follows the launch of PESABAZAAR.com, a web portal that allows consumers to compare premiums and features of similar insurance products and services at a glance. The portal, whose initial investment is Sh 40 million, will enable customers to freely and conveniently compare and purchase a wide range of insurance products at the click of a button.
Commenting on the new development, the company co-founder Calleb Karegyesa said: “The insurance market in Kenya is highly fragmented and it is difficult for the insured to find the right product that offers the best coverage for the best price.”
He further explained: “We are partnering with leading insurance companies in Kenya to ensure that we offer the widest selection of insurance products in the simplest form so that customers can easily and quickly compare plans using the most significant benefits/cover metrics for each class of insurance”.
So far, PESABAZAAR.com has signed up with 10 of the leading insurance companies in the Kenya. It is continuing to on board more providers and products in general insurance and life insurance.
The insurance products on the PESABAZAAR.com bouquet include Comprehensive Motor Insurance, Third Party Only Motor Insurance, Individual and Medical Insurance, Travel Insurance, Golfers Insurance, Mobile, SME and Corporate Insurance.
On his part, Prashanth Srinivas, one of the co-founders said: “We want to make buying insurance as hassle-free as possible by giving the customer the option to purchase cover instantly.”
“The entire search, comparison and purchase experience has been brought at the convenience of the customer and is available on desktop, tablet and mobile. This, coupled with our experienced customer service team, will ensure timely service delivery to our customers countrywide.”
Despite its low penetration levels, Kenya is one of the largest insurance markets in Africa. There are currently over 40 insurance companies, four re-insurance companies (including Zep Re and Africa Re, which are regional bodies), 200 insurance brokers, 250 service providers and about 4,000 insurance agents.
Currently, the annual growth rate of insurance premiums is pegged at 20 per cent. In 2014, Kenya generated insurance premiums amounting to $1.8 billion, which is the largest in sub-Saharan Africa outside of South Africa. Kenya’s growth in premiums is contrasted with the Africa-wide growth of only 4.2 per cent.

Sidian Bank’s Transformation Journey Unveiled

Sidian Bank’s Transformation Journey Unveiled K-rep bank is now Sidian Bank – a transformation that will enable the financial institution to provide robust financial products and services that will drive the growth of enterprises in Kenya.

The 32-year old bank whose new tagline is “Own Tomorrow” will leverage people, process and technology to deliver its ambitious strategic plan which kicked off last year.

Speaking during a media briefing at its Kilimani Branch, the bank’s Managing Director, Mr. Titus Karanja, said the rebranding is part of the business’ transformation plan that envisions moving the bank from tier 4 to tier 2 in 2019.

“With our rebranding now on course and enhanced capital, Sidian Bank is strongly positioned to deliver robust and innovative financial services to current and future customers, through execution of our growth strategy,” said Titus.

Explaining why the bank picked the name Sidian, Titus said the new name is inspired by the Obsidian rock, which is formed from volcanoes. The rock is one of the first commodities used for barter trade.
Titus noted that the bank has invested in technology and product innovation whose intention is to tailor make financial services packages that respond to the unique needs of each enterprise.

“Our revamped bank has a unique business model as we are not only championing a bank for entrepreneurs but also an institution that is managed by entrepreneurs,” said the CEO. Sidian Bank has developed various products to cater for all entrepreneurs and also aims at revamping its consumer banking division, in order to attract new customers.

The bank has also initiated a massive service improvement exercise geared at enhancing the overall customer experience. In 2015, the bank received a capital injection of Ksh 1.2 billion from Centum Group, which will support its expansion bid. In addition to product revamp and service improvement, the capital injection will support the refurbishment of the branch network and upgrade of the core banking system.

Sidian Bank then known as K-rep, started off as a project in 1984 that supported the development of small and micro enterprises through NGO managed programs. In 1999, it was transformed into a bank and has since grown and currently has 37 branches spread across the country.
Enhancements to accompany the corporate rebranding

The bank has rolled out several enhancements as part of a three-year, Ksh 1 billion
investment plan. These include:
- Network-wide refurbishment of the bank’s branches, including improved space to facilitate personalized, one-on-one banking
- A business centre, where its customers can work from, within the banking hall
- The rollout of connected agency banking outlets. The bank is targeting to put in place 3,000 agency outlets in two years’ time – a move that will increase convenience and functionality for customers
- Investment in Technology – the bank has outsourced various aspects to leading technology providers. A move that will support operational efficiencies. The bank is also exploring viable financial technology based partnerships that will support service enhancement
- A comprehensive, revamped package of financial products and services,
designed to meet a wide range of business and consumers’ financial needs
- Investment in talent pool – the bank is boosting its internal capacity, with a view to attracting and retaining the best talent in the financial services market

NIC Bank partners with Deacons Kenya to offer leasing for gym equipment

NIC Bank Group has partnered with lifestyle retailer Deacons Kenya Limited’s Life itness brand to provide leasing facility for gym equipment for local corporates. The partnership will see NIC Leasing LLP, a full subsidiary of the Group, offer financing to corporate customers looking to invest in gym equipment from LifeFitness.

NIC Bank’s Executive Director, Alan Dodd, noted the leasing subsidiary was launched as a natural evolution for the Bank as it now provided customers with equipment and financing all under one roof. Previously, the bank would link customers with leasing companies and provide the financing.

“This partnership is one of many we are pursuing in the market in a bid to ease the acquisition of equipment for our customers in a financially prudent way.  We are seeing leasing gaining popularity in the market led by the government which has opted to lease vehicles and medical equipment,” said Mr. Dodd during the signing of the partnership at The LifeFitness store in Sarit Centre.

The Group launched NIC Leasing LLP in February 2015, the first for a Kenyan Bank. This fits into the Bank’s long term strategic plan which is anchored on an aggressive growth strategy especially Asset Finance, where NIC Bank is the current market leader.

Leasing allows for corporates to optimise cash flow management by freeing up working capital which can be reinvested.

Deacons Limited Kenya opened its LifeFitness store in April 2010 and has seen growth driven by corporates and individuals move to live healthier lives. 

“We are very excited about the leasing partnership between Deacons and NIC Leasing LLC as it allows us to meet the needs of our wide customer base with high quality LifeFitness equipment through flexible financing terms,” said Deacons Chief Executive Officer Mr. Muchiri Wahome during the launch.

Deacons recently acquired Cybex, a brand that offers a robust line of commercial cardiovascular and strength fitness equipment building on the LifeFitness brand thus offering the global standards and innovative equipment in the market.

“Exercise is now becoming vital especially because of our sedentary lifestyle. At LifeFitness, we recommend our customers to adopt an exercise regimen that best fits into their daily program.”

The partnership offers up to 100% financing in three tiers from as low as $5,637 (Ksh574,974) monthly instalments and upwards including insurance – this covering the main gym equipment, strength and cardio plus accessories depending on the size, type of equipment and budget.  Customers will also get free installation and commissioning with the option to either buy back the equipment, through a third party, or extend the lease terms.

Also present and the signing of the partnership were the Kenya Sevens Rugby team and members of Kenya Rugby Union.

Dettol Even Tone honors Kenyan Women

It was a night of beauty and glamour as Dettol Even Tone team hosted an exclusive event to celebrate the African Woman.

Themed #EvenBetterMe, the celebrities-filled gig  hosted by the ever –green ex radio presenter  Pinky Ghelani brought together leading artistes and fashionistas including  top fashion bloggers Sharon Mundia, Joy Kendi and Nancy Mwai, Showbiz exraordinaire Talia Oyando a.ka Night Nurse, songbirds Size 8 ,Avril Nyambura and Patricia Kihoro, Capital FM’s  Anita Nderu and Mandi Sarro.

 Also in attendance was Dettol Brand Marketing manager Rachel Migwi and Damira Golubic, RB Marketing Manager.

 RB County Manager East Africa Sachin Varma said, “For many years Dettol has been a real companion to  mothers in Africa, Dettol Even Tone is our gift to the African woman, we celebrate her by ensuring that her skin is well taken care off”.

 He further noted that, “Dettol Even Tone is the ultimate blend of hygiene and beauty that not only replenishes the skin but also removes dark spots to ensure that mothers step out in even toned skins.

 On her part, Pinky Ghelani said, “Today, we sit around this lovely room to celebrate our skin, the biggest and most precious asset for any woman”.

 The new soap, Dettol Even Tone was developed in Africa, based on African consumers’ insight around even toned skin. It is an antibacterial soap with extra features, such as moisturizers and crushed apricot seeds to remove blemishes.

LG’s incredible OLED TVs billed as the Future of Television

After a strong showing at Consumer Electronics Show (CES) 2016, there is little doubt that OLED is poised to become the dominant format for tomorrow’s UHD TVs.

CES 2016 presented an opportune moment for OLED to establish itself as the leading format for the next generation of televisions, pointing to 2016 being a banner year for OLED technology. Additionally, the reduced cost and surge in 4K content is likely to lead to a boom in OLED popularity.

This comes against the backdrop of a recent announcement by LG Electronics to make 4K OLED TVs available to Kenyans from this year.

Of the thousands of products at the CES this year, LG’s OLED line stood out, helping set the tone in technology for years to come, at least in as far as television is concerned.

LG’s OLED line won recognition from global leading publications like Fortune, Wired and Techspot.  They lamped praise on it saying that it has been the best of the best in the television world for the past few years, lauded its picture quality, razor-thin design as well as said in many of their articles that it was by far the most impressive TV shown at CES 2016.

Since unveiling its innovative OLED technology to the world in 2012, LG has been commended for making a revolutionary step toward the next generation of TV technology. LG released new 4K OLED TV models last year at the Consumer Electronics Show (CES) in Las Vegas, with industry experts raving about LG OLED’s innovative technology and design.

The display market is highly competitive, and superior picture quality remains a hugely important differentiator. Currently, the lion's share of the television market today still belongs to LED LCD TVs.

OLED TVs deliver a superb viewing experience with more natural, comfortable colors and a maximum response time of 0.001ms, which is more than 1,000 times faster than conventional LCD flat panel TVs. They are also known to render images with perfect blacks and perfect colors with an infinite contrast ratio.

On the other hand, with consumers now more than ever looking for creative ways to slim down in any way, especially those in cramped living spaces, modern TVs are progressively becoming smaller increasing their appeal. Thanks to space saving LG OLED TVs consumers living in such spaces need not to worry.

LG’s OLED TVs measure in at a mere 2.5mm, allowing them to nearly disappear when viewed from the side. The stylish, ultra slim design of LG OLED TVs still offers appreciable benefits to consumers where space is less of an issue.

Lastly, the revolutionized design of OLED TVs allows users to experience the maximum benefit of its widened viewing angles. The narrow viewing angles of traditional LCD TVs make it necessary to seat all viewers within a small “sweet spot” but LG OLED TV eliminates this problem, giving consumers more freedom to design their viewing areas as they see fit, regardless of the size and shape of the room.

LG announces drive to raise Sh20 million for orthopaedic rehabilitation

LG Electronics’ Mr. Choong Hak, Executive Vice President Business Support officer (left) and Mr. Taeick Son East Africa Managing Director engage Ms. Janet Reson, one of the beneficiaries of the company’s artificial limb program at P.C.E.A Kikuyu Hospital during an event to mark the 10^th anniversary of the company’s partnership with hospital. LG has announced plans to organize an annual walk starting from August, targeting to raise over Sh20Million for the hospital’s orthopaedic rehabilitation unit.

LG Electronics has announced plans to scale up its existing support to P.C.E.A Kikuyu Hospital’s orthopaedic rehabilitation unit through an annual walk to raise funds for the facility.

Starting this August, and working with P.C.E.A Kikuyu Hospital, the company will organize an annual five kilometer walk in Kikuyu targeting organizations and over 5,000 participants. The aim is to raise over Sh20 million for the hospital’s orthopaedic rehabilitation unit.

The funds will be used to equip the unit with prosthetics, pay bills for needy patients as well as create awareness on the plight of persons with physical impairments.

The unit receives over 500 cases from across the country requiring prosthetics annually but owing to the high cost of treatment, it is only about half of that number that gets support to acquire artificial limbs.

The average cost for above knee prosthesis for both adults and children is about Sh50,000 while below knee prosthesis is about Sh30,000.

Speaking during a ceremony to commemorate the 10th anniversary of the partnership between the company and the hospital, LG Electronics’ General Manager for Marketing Moses Marji spoke of the need to scale up financial support for the unit in the coming months to accommodate more people.

“We hope to use the annual walk to raise additional funding required to accommodate more patients from humble backgrounds,” said Mr Marji.

The most common causes of physical impairments include accidents and diseases.

He added: “soon, if budgets allow, we hope to expand the program beyond Kikuyu Hospital to various Level Four hospitals across the country.”

On his part, the hospital’s CEO Patrick Kimpiatu applauded LG Electronics for making the partnership work, and for its commitment in the cause that has over the years seen hundreds of people with amputated legs and arms from across the country supported to acquire artificial limbs.

“Disability from such amputations, no doubt hinders full participation in the economic and social life development of the affected. I am however glad that LG’s contribution has seen some of those people get back to playing an active role in society as contributors to the economy and lessened their burden,” said Dr Kimpiatu.

EABL’S CHROME VODKA AND SAUTI SOL SIGN PARTNERHIP DEAL

EABL’s Chrome Vodka has today announced a partnership deal with Sauti Sol, Kenya’s leading afro-pop group as the brand ambassadors who will drive its “Dream Big, Be Bigger” #ShineOn marketing campaign while the brand becomes the official sponsor of Sauti Sol’s “Live and Die in Afrika” national tour.
The tour, which is the first of its kind in Kenya, will see the group stage live performances in Kisumu, Eldoret, Nakuru, Machakos and Mombasa to popularize their album, which has already proved a big hit in the local charts going platinum within 37 hours of its launch.
“This venture brings to life the strong connection between Chrome Vodka’s innovative leadership as a credible, premium quality vodka and Sauti Sol’s legendary appeal in afro pop music” said Anne Joy Muhoro, EABL Kenya Marketing Manager, Mainstream Spirits. “Chrome Vodka aims to support local talent and at the same time drive a brand that resonates with our target consumer”
“Sauti Sol is Kenya’s pride in the music industry; young men who have a vision that they are successfully bringing to life; they have managed to build a strong brand in both local and international markets. They have achieved this through the power of determination and dedication and these are the characteristics that resonate with both Chrome and Sauti Sol’s target consumers,” explained Marek, Managing Director, Sauti Sol Entertainment.
In December 2014, EABL introduced Chrome Vodka to tap into the consumer segment seeking a price accessible, high quality brand with premium cues. The brand is leading innovation in the lower mainstream segment and has recently expanded to include a pre-mixed vodka, Chrome Spark with a recommended retail price of Ksh 80 per 300ml bottle, and a lemon flavoured vodka with a recommended retail price of Ksh 180 for 250ml.
Live and Die in Afrika was added in BBC Africa’s Top 10 tracks of 2015 and Okayafrica’s Top 15 Albums of 2015. Sauti Sol were also listed as Billboard Africa’s Most Promising Group, The Standard Newspaper’s 2016 Agenda Setters and Drum Magazine Africa’s 2015 Movers & Shakers. Sauti Sol is an award-winning afro pop group from Kenya. The band has won Best Group in East Africa (2016 Bingwa Awards), Best African Group at African Muzik Magazine Awards (2015 AFRIMMA) and an MTV EMA Award for Best African Act in 2014. Comprising of Bien-Aime Baraza, Willis Austin Chimano, Polycarp Otieno and Savara Mudigi, the group mixes their soulful voices with vocal harmonies, guitar riffs and drum rhythm. Sauti Sol blends warm resonant pop with traditional Kenyan influences. Their mélange of energetic rhythms has promoted the group to become one of Africa’s most celebrated and East Africa’s pioneers of a fresh sound that has inspired the sprouting of many other bands from East Africa.