Insurance brokers operating in Nairobi met banking sector executives on Wednesday during a business forum focused on expanding access to insurance premium financing for small businesses and retail customers within Kenya’s insurance market.
Co-operative Bank of Kenya hosted the breakfast engagement in partnership with the Association of Insurance Brokers of Kenya as part of discussions on financing structures aimed at improving uptake of insurance products.
The discussions centred on insurance premium financing models that allow customers to spread insurance payments over structured repayment periods rather than making full upfront payments at policy issuance.
The bank said the financing arrangement is targeted at small and micro businesses as well as individual customers seeking easier access to insurance cover within a market where affordability remains a major factor in policy uptake.
Co-op Bank is introducing insurance broker financing as part of efforts to deepen collaboration between financial institutions and insurance intermediaries operating within the country’s distribution network.
The initiative is expected to support brokers by improving customer conversion rates and policy retention while creating additional financing-linked business opportunities within the insurance value chain.
Nicholas Ithondeka, Managing Director of Co-op Trust Investment Services Ltd, led the bank’s delegation during the engagement, which focused on operational structures, market opportunities, and strategic cooperation between lenders and insurance brokers.
The meeting also reviewed the role of financing products in expanding insurance penetration among small enterprises and retail customers seeking flexible payment arrangements.
The engagement reflects increasing interest among financial institutions in developing credit-linked insurance products tailored toward underserved customer segments within Kenya’s financial services market.
Insurance premium financing continues to attract attention as banks, insurers, and intermediaries explore models that can widen insurance access while supporting growth in policy volumes across business and personal insurance categories.
