Global insurance tech giant bolttech has officially made its debut in Kenya through a partnership with LOOP, the fintech subsidiary of NCBA Group.
Together, the two companies are launching LOOP FLEX, a new device financing and protection program that will roll out in October.
This move addresses a growing challenge in Kenya’s fast-evolving digital economy, making smartphones and essential gadgets more affordable and secure.
What is LOOP FLEX?
LOOP FLEX is a Buy Now, Pay Later (BNPL) solution that allows customers to finance their devices conveniently while enjoying comprehensive embedded protection.
With LOOP FLEX, customers can spread the cost of their devices while safeguarding them from theft, damage, and breakdowns.
Key features include:
- Theft Protection: Customers receive a voucher towards a new device after 30 days, with only a 10% deductible, supported by a police report within 48 hours.
- One-Time Repair Cover: Includes repairs for cracked screens, damaged casings, battery faults, internal component failures, and even liquid damage.
- Certified Repairs with Genuine Parts: All services are carried out in certified repair centers.
- One-Time Repair Up to Device Value: Customers get coverage for repairs up to the original purchase value.
- Simple Digital Claims: Claims can be filed and tracked easily through bolttech’s digital channels.
In Kenya, smartphones power payments, work, education, and entertainment, but high upfront costs and the risk of damage or theft make ownership challenging.
LOOP FLEX solves this by offering affordable monthly payments with built-in protection. Unlike traditional BNPL plans, it combines financing and insurance in one seamless package.
Eric Muriuki, CEO of LOOP DFS, noted the customer benefits, saying, “We are delighted to welcome bolttech to Kenya and to partner with a global leader in embedded protection. LOOP FLEX empowers our customers with access to the devices they need through affordable financing and gives them peace of mind with comprehensive protection.”
“Kenya is one of Africa’s most dynamic digital economies. Partnering with LOOP allows us to embed protection directly into the device ownership journey, enabling more people to afford and safeguard the technology they rely on daily,” added Stephan Tan, CEO EMEA and Group CIO of bolttech.
Bolttech’s Expansion Into Africa
This launch marks bolttech’s entry into Kenya, supporting its strategy to grow in emerging digital markets. With its strong fintech ecosystem and mobile-first population, Kenya is a natural starting point for the insurance tech’s African expansion.
By collaborating with LOOP, bolttech gains strong local credibility while LOOP strengthens its innovative product portfolio with global expertise.
