KENYA – Housing Finance Group (HFC), through its bancassurance intermediary, has partnered with Britam Holdings Plc, an investment holding company, to launch a convenient and flexible education policy dubbed Elimu.

The product is set to enable parents to provide an uninterrupted quality education for their children with high returns, flexible terms, and guaranteed payouts.

The education plan will be exclusively available from HFC and underwritten by Britam Holdings Plc as part of the HFC’s diversification strategy that has seen it provide customers with full-service banking services.

“We are deepening our full-service bank offering including bancassurance solutions and this product will provide an avenue for our customers to plan and save towards quality education for their children whilst increasing insurance penetration in the country, which currently sits at only 3 percent,” Robert Kibaara, the HF Group CEO said.

“The collaboration between HFC and Britam will deliver a solution that is beneficial to the customer in a sector that remains critical for every economy and the education sector.”

The Group CEO said the solution has also been tailor-made to accommodate diverse customer needs and allows for high age limit entry of up to 60 years and tenure limits as low as 6 years.

“This partnership is well aligned with Britam’s strategy to be a customer-centric organization by ensuring that we continually identify partners to work with in customizing solutions aligned to what consumers need,” Ambrose Dabani, Britam Life Insurance Principal Officer, said.

“As the number one Life Insurer in East Africa for a considerable number of years, education planning is something we pride ourselves as your ideal partner of choice.

“Elimu is a brainchild of two brands that aim to offer more value to HFC customers by leveraging on our heritage and track record of ensuring parents are able to give their children quality education.”

Kibaara added that adaptiveness to customer needs and excellence in service delivery are some of their key pillars and “we will continue to partner with like-minded institutions to innovate products and services that not only promote financial inclusion but also align to emergent customer needs.”

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE HERE