Today, Lipa Later Group, a buy now, pay later (BNPL) company, announced a partnership with Lami Technologies, an insurance technology company. This partnership will give Lipa Later Group’s customers access to reliable and affordable insurance for all products they buy through the Lipa Later platform.
Lipa Later is a trusted BNPL company that has been around since 2017. It operates in Kenya, Rwanda, Uganda, and Nigeria, and its only goal is to help consumers with their finances by making buying things easier.
Today, Lipa Later is one of the most popular ways for African consumers to pay other than cash.
During the payment plan period, consumers will be automatically covered for the costs of any loss or damage caused by accident.
According to Claudine Gakundi, the Country Manager. Lipa Later has made a contract with Lami to make it easy for our consumers to purchase insurance while we work on developing our digital offerings and growing our footprint in the BNPL sector,”.
Through this partnership, Lipa Later customers can get insurance for the things they buy from us at a price they can afford.
Getting rid of the old, expensive way of getting insurance and replacing it with a fast, easy, and cheap way is a great way to give more people access to insurance.
We want to bring prosperity to the whole region by making sure that people from different backgrounds are covered.
By partnering with Lipa Later to automatically insure products bought through its platform, we are increasing the number of people who can get insurance and making insurance a better way to get and keep customers.
By doing this, we also give businesses access to a broader range of insurance products that add value to the business and build customer trust and loyalty.
We’re looking forward to working with our partners more to keep giving businesses, and people access to insurance products that work well and are easy to use.
In 2018, Lami Technologies was started to help solve the problem of how few people in Africa have insurance. Even though 17% of the world’s people live in Africa, it is one of the least insured places in the worldLami is changing insurance for underwriters and businesses that want to close the coverage gap by making coverage affordable for everyone in Africa.
Lami’s insurance technology is a powerful tool that makes it easy for businesses to find, price, and embed insurance options. It also allows businesses to combine two or more products for better coverage.
With this partnership, the all-risk insured will cover all of the products bought by Lipa Later customers in Kenya, Uganda, Rwanda, Tanzania, and Nigeria.