Faulu Bank launched a system that has fully automated all bancassurance processes at its 61 outlets countrywide. The Faulu Bancassurance System, which was deployed in January and is now being implemented will improve operational efficiencies, deliver convenience and speed to customers who buy insurance products and services.

The system will automatically issue quick quotations, facilitate cover processing and administer all insurance products underwritten by UAP Old Mutual Group.

“Bancassurance is an important part of our service offering because it helps our customers access a wide range of insurance products, helping them protect the wealth that they work so hard to create,” said Faulu Bank Managing Director, Apollo Njoroge during the launch of the system. This innovation is expected to increase the microfinance institution’s bancassurance revenue this year.

The new system is also expected to improve decision-making at the bank, due to the timeliness and accuracy of the data it produces and the fact that it will be integrated with the Bank’s core banking system.

“With this new system we will collect data with greater scientific precision. This will enable us to improve the customer experience by delivering value to our customers concluded Mr. George Maina, Faulu Board Director.