Money254, mTek Partner to Increase Insurance Penetration in Kenya 

‍Nairobi, November 27, 2023 - Money254, Kenya’s premier financial marketplace and mTek - an insurtech brokerage offering digital access to insurance policies from 38 underwriters - today announced the commencement of a partnership that aims to help extend the reach of insurance services to the everyday person in Kenya. 

In addition to comparing personal and business loans, credit cards and accounts, Money254 visitors can now seamlessly compare insurance policies from all the underwriters in Kenya following the rollout of mTek’s digital insurance solution on the Money254 financial marketplace. 

Through this partnership, more Kenyan consumers will be enabled to compare and purchase insurance policies directly from the mTek app at no extra cost, compare insurance policies to get the best option based on their unique needs and also file claims conveniently through their mobile devices.

This partnership is a significant step in Money254’s mission of helping Kenyans make informed financial decisions with confidence by creating equal access to financial product information from all institutions operating in the market.

mTek, licensed as Hillcroft Insurance Brokers Limited, aims to bring the advantages of insurance directly to Kenyan households by streamlining the insurance process, improving transparency and making it more accessible, affordable and efficient for users.

“Creating transparency and access to leading financial products is at the core of everything we do at money254.co.ke. We are excited to extend our reach into the insurance space through this partnership with mTek, helping consumers make confident decisions when it comes to the protection of their family, employees and assets,” said Money254 CEO and Co-founder, Lorcan O Cathain.

"At mTek, we share Money254's passion for making financial products accessible and easy to understand. This partnership is a natural fit for us as we both want to empower Kenyans with the tools they need to make informed financial decisions.

“We're excited to bring our digital insurance expertise to the table and work alongside Money254's vast network to give Kenyans the knowledge and tools they need to make smart insurance choices. This is a huge step towards a brighter, more secure future for millions, and a game-changer for financial security in Kenya,” Marko Reis, mTek’s Head of Strategy and Partnerships said.

Money254 and mTek are committed to empowering more Kenyan consumers to affordably access the security and benefits of insurance coverage, ensuring that a wider population can safeguard their assets and well-being.

‍About Money254.co.ke 

Money254.co.ke is East Africa’s first comprehensive integrated financial services marketplace. We have aggregated the Kenyan financial and insurance services landscape into one central database, providing a simple, fast and transparent way for users in Kenya to search and compare financial and insurance products. 

‍About mTek

mTek is a digital online insurance platform that provides an entirely paperless ecosystem for the insurance industry. The Platform allows customers to purchase insurance directly from the insurer, compare insurance policies and file for claims directly through their smart devices.