Diversified financial services firm Britam has officially launched its microinsurance subsidiary following its licensing by Insurance Regulatory Authority (IRA), making it one of the first fully licensed microinsurance providers in the country.
Since pioneering microinsurance in 2007 with its first product, Kinga Ya Mkulima, Britam Microinsurance has insured over 4 million Kenyans as of 2024, and holds the largest market share in Kenya’s microinsurance sector at over 40%.
Now, dubbed as Britam Connect, the company doubles down on its legacy, to harness digital innovation, strategic partnerships, and tailored solutions to bridge the insurance gap and connect with the next generation of customers.
“Insurance penetration in Kenya is still low at 2.4% because many people believe it’s too expensive or complicated,” said Britam Group MD & CEO, Tom Gitogo. “Britam Connect is addressing this by integrating technology and partnerships to make insurance more accessible, affordable, and relevant to the everyday lives of millions.”
Low uptake stems from perceptions such as insurance is a luxury rather than a necessity, alongside cost concerns, limited awareness, and lack of tailored solutions for the informal sector and low-income groups, among others.
Britam Connect is shifting this perspective by embedding insurance into everyday financial transactions and offering flexible, pay-as-you-go premium models.
“We are launching embedded insurance products because we know our customers don’t wake up thinking about buying insurance. They think about buying mobile data, fueling their motorbikes, or sending money. So why not integrate insurance into those everyday transactions?” explained Evah Kimani, Acting CEO of Britam Microinsurance Company. “For example, taxi drivers using the Little ride-hailing platforms can now access personal accident cover for as low as KSh 5 per trip. In the event of an accident, they receive medical coverage and compensation for lost income, allowing them to get back to work faster. Boda boda riders have also benefited from personal accident insurance, bundled with mobile data purchases. If a rider buys a data bundle from Safaricom, they also get a personal accident cover, ensuring that they are protected every time they go out on the road.”
Since launching the embedded insurance solutions a year ago, integrating insurance into mobile and digital services that gig workers use daily, Britam Microinsurance has covered over 300,000 gig workers.
Farmers insured under Britam’s Kinga ya Mkulima product, a partnership with Majani Insurance Brokers, a subsidiary of Kenya Tea Development Authority, have already benefited from comprehensive health cover, allowing them to access medical services at nearby hospitals without financial strain.
Pauline Mwangi, General Manager of Majani Insurance Brokers, underscored the success of the partnership, which currently insures 200,000 farmers, covering a total of 600,000 people including dependents.
“Our farmers no longer have to choose between healthcare and putting food on the table. With premiums starting at just KSh 85 per month, they can access both inpatient and outpatient care. This is the kind of solution that makes insurance meaningful,” Mwangi said.
The launch of Britam Microinsurance also signals a turning point for Kenya’s microinsurance sector. Kalai Musee, Director of Supervision at the IRA, acknowledged that while microinsurance regulations were enacted in 2020, uptake by insurers had been slow.
“For nearly five years, it felt like we had passed a ghost law—no one was applying for a license. We needed companies willing to rethink insurance, move away from outdated models, and embrace technology. Britam Connect is doing exactly that,” Musee said.
He emphasized that affordability should not be an excuse for exclusion, noting that insurance products can be designed to fit any income level. The IRA, he added, will be supporting insurers like Britam Connect by running nationwide financial literacy programs targeting MSMEs and informal sector workers.
Britam Connect is not just looking at Kenya; it has set an ambitious goal of reaching 25 million people across Africa in the next five years. The company plans to scale its impact by working with InsureTech firms, SACCOs, and development organizations to create innovative risk protection solutions.
One such initiative is its partnership with Oxfam, which helped subsidize flood insurance premiums for residents in Tana River County. By using satellite imagery and real-time weather analytics, Britam Connect aims to enhance risk assessment and ensure faster payouts for disaster-affected communities.
Kimani reiterated that the company’s ultimate success will be measured not just in numbers but in the tangible impact it has on people’s lives.
“For us, success means that when a gig worker is involved in an accident, they can get treatment without worrying about hospital bills. It means that a farmer affected by floods can receive compensation and rebuild their livelihood. That is what Britam Connect is about—financial security that works for everyone, not just a privileged few,” she said.
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