Hillcroft Insurance Brokers Limited (t/a mTek) has developed a digital insurance platform that provides an entirely paperless ecosystem for the insurance industry.
The market penetration in East Africa stands at below 3% at a market value of 1.2 Billion USD annual (General Insurance only).
The main challenges for clients to take up insurance products are the lack of trust, affordability, product fit and distribution.
At mTek we allow customers to compare insurance policies, purchase insurance directly from the insurer and file for claims directly through their smart devices. By introducing payment plans, new products and ensuring overall transparent processes we believe we can increase market penetration and ensure client satisfaction and retention.
Launched in December 2020 we have 50,000+ user and are co-operating with 35 Kenyan underwriter who hold 95% of the market share.