Revolutionary Kenya entrepreneur Jihan Abass has come up with the first-ever digital-only car insurance company in the country.
According to a report by Reuters on January 24, 2020, the 26-year-old is the founder and CEO of Griffin Insurance, the company behind the revolutionary brainchild.
The reports further intimated that the car insurance company has revolutionized the industry in a sense that it lets customers pay their remittances in installments and pause coverage in case they travel abroad for one reason or the other.
The company also boasts of having come up with a system that would enable the processing of claims in a week rather than the industry standard of 30 days.
"At Griffin, we have managed to get rid of the traditional means of selling insurance. We have digitized the entire value chain so you have a seamless and improved experience."
"All this has been made possible through the Griffin car insurance App which uses the latest technologies to provide an easier, cheaper, faster and more efficient way of getting your car insurance," the company's website reads.
Speaking to Reuters, she intimated that the idea of a digital platform came when she learned that a waiter she was interacting with did not have health insurance coverage.
It was then that she discovered that digital insurance would be key in revolutionizing the industry in Kenya, leading to the formation of Griffins in 2016.
Abbas had made the same observations to the Standard newspaper in November 2019.
“We’ve digitised the entire process and there’s no paperwork here. The only thing we have to print is the certificate because it’s required by law.”
“We want to change the market and how people view insurance in general. Traditional insurance has a lot of paperwork which is tedious. We want to streamline the process,” she stated.
