Kenyan businesses are urged to take a more proactive approach to managing risks as underinsurance continues to leave many enterprises vulnerable to financial shocks.
NCBA Insurance is intensifying its push to protect small and medium-sized enterprises (SMEs) through its Package SME Insurance solution, while strengthening its network of insurance agents to improve access to business protection across the country.
The insurer says businesses face a growing range of threats, from fire, theft and accidental damage to business interruption and emerging cyber risks, making insurance an increasingly important component of business resilience.
NCBA Insurance’s Business Insurance solution is designed to serve enterprises at different stages of growth, with annual premiums starting from KES 15,000 and cover of up to KES 1 billion.
The policy protects key business assets including buildings, machinery, equipment, stock, furniture and fixtures against risks such as fire, burglary, accidental damage, political violence, terrorism and electronic equipment breakdown. It also provides business interruption protection.
The insurer has further expanded its risk protection offering through General Insurance products covering areas such as cyber, marine, motor and travel insurance.
Speaking during an engagement with NCBA Insurance agents in Nairobi, CEO and Managing Director Stella Njung’e said adequate insurance can give entrepreneurs the confidence to pursue growth without leaving their investments exposed to unexpected setbacks.
“Every business faces risks that can disrupt operations and reverse years of hard work,” Njung’e said.
She added that the company aims to provide solutions that protect business assets, support continuity and strengthen resilience as enterprises expand.
The need for greater insurance uptake is underscored by industry research indicating that about 53% of small and growing businesses surveyed in Nairobi did not have active insurance cover.
NCBA Insurance is seeking to close this gap by equipping its agency network with deeper product knowledge, market insights and customer advisory skills.
The company says agents remain a critical link between insurers and entrepreneurs, particularly in helping business owners identify risks and select insurance solutions suited to their operations.
“Agents are often the first point of contact for business owners seeking guidance on how to protect what they have built,” Njung’e said.
The agency engagement forms part of NCBA Insurance’s broader strategy to strengthen its distribution network, improve customer education and expand access to business insurance solutions.
For Kenya’s SMEs, the push comes at a time when business continuity has become increasingly important, with adequate risk protection offering enterprises a financial cushion against disruptions that could otherwise wipe out years of investment.
NCBA Insurance says it will continue investing in agent empowerment and innovative insurance products as it seeks to help more businesses protect their assets, withstand shocks and pursue sustainable growth.