Kenyan insurtech startup Lami Technologies has teamed up with logistics firm Sendy to enable transporters in Kenya to access affordable insurance products customised on a per-trip basis.
With most transporters moving commodities, goods, and cargo across the country without business-specific insurance, the risk of potential loss has remained high in the past decade.
But with the removal of the voluminous paperwork witnessed in traditional insurance systems, Sendy users can now access insurance for their goods in a hassle-free environment during transit.
Powered by Lami’s insurance Application Programming Interface (API), transporters moving cargo can now swiftly digitise their insurance policy requirements on Sendy’s online freight dashboard for shipment across the country and within East Africa for cargo valued up to Sh5 million.
Mesh Alloys, founder and chief executive of Sendy, said through the collaboration, the company will take advantage of the speed and ease of digitalisation while also assisting transportation partners through enhanced efficiency.
“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,” he told the Nation.
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 only promoting the availability of freight insurance for transporters,” said Jihan Abass, founder and CEO of Lami.
The platform is also meant to connect Sendy to a wider customer base to increase the volume of its business transactions.
Data seen by Nation.Africa shows that as at May 2021, the firm had signed up 10,000 drivers, with a sharp peak in demand being witnessed from April 2020 when the government imposed total lockdown measures to help curb the spread of Covid-19.
“We have served over 100,000 clients in the past 12 months. The pandemic has spurred demand for our services due to the contactless delivery requirement by the government,” Mr Alloys said.