Financial service firm, Britam is advising small and medium-sized enterprises (SMEs) to pursue risk mitigation strategies in the wake of floods that have hurt the country’s social economy.
Speaking at an SME networking forum hosted in partnership with Kenya National Chamber of Commerce and Industries (KNCCI), Britam MD Tom Gitogo emphasised the company's commitment to developing insurance solutions that cater to the unique challenges posed by climate change.
"Climate change is not a distant threat; it's a present reality,’’ Gitogo said.
He said they have partnered with global organisations like Oxfam and Swiss Re to develop insurance solutions that specifically address the challenges posed by flooding and drought.
He said since the firm launched the Flood Insurance solution last year, it has paid over Sh20 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.
The launch of the Nakuru chapter of the Britam Business Network is part of the firm’s initiative to bolster the resilience of Kenyan SMEs.
