Kenyan insurance startup Lami Technologies and Sendy have today announced a new per-trip insurance policy for transporter in Kenya.
The transport sector is a core part of Kenya’s economic strategy. Most transporters move commodities, goods, and cargo across the country without business-specific insurance, which does not protect the business from the risk of potential loss. The development of insurance products for the transport sector can contribute to both financial and economic development.
This collaboration the two say supports the logistic industry by digitizing access to insurance for transporters protecting them against all risks of physical loss or damage from any external cause during transit.
Powered by Lami’s insurance API, transporters moving cargo can now swiftly digitize their insurance policy requirements on Sendy’s online freight dashboard for shipment across the country and within East Africa for cargo valued up to Kenya Shillings 5 million.
Sendy’s platform simplifies end-to-end logistics for businesses by connecting them to hundreds of transporters online. Transporters allocated a consignment will be required to access Lami’s embedded and automated insurance policies enabling real-time quotation, adjustable carrier liability on a per-trip basis, and faster claims process on receiving claims reducing inefficiency.
“Lami Technologies is working on spearheading the transition of digital insurance in Kenya. By partnering with Sendy to provide transporters with access to affordable and relevant insurance products online, we are not only promoting the availability of freight insurance for transporters. But we are also connecting them to a wider customer base to increase the volume of their business transactions. ”Jihan Abass, Founder and CEO of Lami, said.
Mesh Alloys, Founder and CEO of Sendy, said “Through this collaboration, we will be able to take advantage of the speed and ease of digitalization while also assisting our transportation partners by adding a cutting-edge technology that will enhance efficiency to their service offering. It also allows our transportation partners to take advantage of a low-cost per-trip insurance policy, which is in line with our approach of forming alliances that enable our partners to do more.”
Over the past year, Lami Technologies has been launching digital insurance partnerships with businesses in Kenya. The partnerships, Lami says are designed to equip organizations and people with the right tools to pave their path towards ensuring financial security by broadening access to affordable and relevant insurance.