Financial service firm, Britam is requesting a small and medium-sized enterprises (SMEs) to embrace risk mitigation schemes in the wake of floods that have hit the country’s social economy.
During an SME networking forum hosted in partnership with Kenya National Chamber of Commerce and Industries (KNCCI), the Managing Director of the firm Tom Gitogo said that the company is committed in coming up with insurance solutions that address various challenges posed by climate change.
Gitogo said, “Climate change is not a distant threat; it’s a present reality.’’
He added they have partnered with global organisations like Swiss Re and Oxfam to develop insurance solutions that specifically cater for the challenges posed by drought and flooding.
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The MD noted that since the firm launched the Flood Insurance solution in 2023, it has settled over KSh20 million in claims to 300 households in Lower Tana affected by floods, all without having to sign traditional claim forms.
“This has been possible due to the technology-driven solution that Britam’s long-standing domestic package, which covers damages to homes including furniture and electrical equipment, offers comprehensive protection against the ravages of natural disasters including flooding,” he said.
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