NCBA Bank is redefining how East Africans access insurance through its fast-growing bancassurance arm, offering a seamless blend of financial and protective services under one roof.
Through NCBA Bancassurance Intermediary Ltd, the bank has integrated insurance solutions into everyday banking, empowering millions of customers across Kenya, Uganda, and Tanzania to access tailored policies with unmatched convenience.
Bancassurance, a partnership model between banks and insurance companies, allows NCBA to distribute insurance products through its extensive branch network, online platforms, and mobile applications. The service, first launched in Uganda in 2018 under the former NC Bank and expanded regionally after the 2019 merger with NIC Bank, now supports over 63 million customers across East Africa.
Leveraging NCBA’s robust digital infrastructure, clients can obtain policies, renew coverage, and process claims from anywhere—often without visiting a physical branch. This innovation has made NCBA a trailblazer in customer-centric insurance delivery in the region.
The bank’s product suite is designed to meet diverse needs, spanning personal, business, and health insurance. Among the most popular offerings are NCBA Car Insurance, covering accidents, theft, and natural disasters; NCBA Home Insurance, protecting homes against burglary and damage; and NCBA Last Expense, which cushions families against funeral costs. For parents, the NCBA Educator Plan ensures children’s education continues uninterrupted, even in times of financial strain.
For businesses, NCBA provides comprehensive property and fire insurance to safeguard assets, as well as health solutions like NCBA Medicare, developed with Britam, offering family coverage from as low as KES 15,000 per year. Additionally, NCBA Thrive, in partnership with Old Mutual, caters to individuals and small enterprises seeking flexible medical coverage.
A major milestone came in 2023 with the introduction of the NCBA Go Insure digital platform. The self-service portal enables customers to get instant quotes, purchase policies, and manage renewals online. “This empowers customers to take control of their insurance needs,” said Samuel Odhiambo, Managing Director of NCBA Bancassurance, during the platform’s launch.
Go Insure’s automated reminders, sent 90, 60, 30, and seven days before policy expiry and premium financing options ensure customers stay protected without disruption. The platform’s efficiency has cut claims turnaround time to days, while customers enjoy up to 30% savings through bundled banking and insurance deals.
NCBA Bancassurance with more than $500 million in assets is not only growing its reach but also investigating AI-powered risk assessment solutions.
With assets exceeding $500 million, NCBA Bancassurance continues to expand its footprint and explore AI-driven risk assessment technologies.