Standard Bank unveils new insurance for SMEs


Standard Bank plc has announced the launch of BizSure, a new insurance to protect small and medium businesses from general risks.

Standard Bank plc Head of Personal and Business Banking, Phillip Madinga said BizSure will be provided in partnership with Liberty General Insurance Company.

Madinga said the policy will help entrepreneurs safeguard their dreams and ambitions in the face of uncertainty.

Standard Bank appreciates that a vibrant SMEs sector is the heart of the economy.  This group encounters numerous challenges most of which emerge unexpectedly.  It is therefore, our aim to address their anxiety by offering them a solution for unexpected situations and help them focus on growing their businesses,” he said.

He said BizSure is a coupon based insurance aimed at providing simple insurance solution to the needs of small and medium sized business customers by providing them with one single policy covering various risks typically faced in their day to day business operations for K9,900 per month up to MK4 million cover.

Madinga said the product benefits include affordable premium, no application of average clause, wide coverage with less exclusions and easy to administration.

In the event of a claim, customers are expected to complete claim form, police report for theft claims, two replacement quotations and any other documentation as requested by the insurer.

Madinga also highlighted that BizSure has eased the normal bureaucracy for customers.  

The service comes with measurable convenience to our customers.  All these products are bundled into one making it easy for an SME customer to access insurance at an affordable price with one policy document and one application form completed.”

Source:     Daily Times

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