Before the introduction of Bancassurance in Kenya, the insurance industry faced limited consumer awareness, low levels of trust, negative perceptions, products that were often seen as irrelevant, and poor access, especially among people in the informal sector and those living in remote rural areas.
Bancassurance provided a new way to distribute insurance by leveraging the reach, infrastructure and customer relationships of banks.
In Kenya, this was implemented through three main models:
Bank–insurer partnerships:
- Insurance companies placed their own sales staff within bank branches to sell insurance products to bank customers.
Bank-led distribution
- Banks trained and equipped their own employees to sell insurance products, often through dedicated insurance desks in their branches.
Broker-led distribution:
- Insurance brokers partnered with banks to provide technical advice, product support and after-sales service, typically under a profit-sharing arrangement.
These three models brought insurance closer to customers and expanded its distribution beyond traditional insurance channels.
Also read: Understanding The Risks Your Business Faces: Where Insurance Comes In
For over 18 years, Family Bank has been part of this evolution through its bancassurance business. Established in 2008, Family Bank Bancassurance Intermediary Limited (FBBI) was licensed by the Insurance Regulatory Authority to conduct bancassurance business.
Through strategic partnerships with reputable insurance underwriters, FBBI offers a broad range of insurance solutions designed to meet both personal and business protection needs. These include motor vehicle, health, marine, fire and property insurance, among other products.
The impact of FBBI’s bancassurance business is reflected in its growing contribution to the Group. In the 2025 financial year, FBBI generated over KES 1.947 billion in gross written premiums across its general, life and medical insurance business and contributed KES 285 million to the Group’s profit before tax.
FBBI has also made insurance more convenient by integrating its services into Family Bank’s mobile banking platform, PesaPap. Customers can now get a quote, sign up for a policy, make payments and submit claims directly from their phones, making the process faster and more accessible wherever they are.
The offering continues to expand. Family Bank Bancassurance Intermediary recently partnered with APA Insurance to launch Family Afya, a comprehensive health insurance product targeting retail customers and small and medium-sized enterprises (SMEs).
For customers, this means being able to access insurance through a trusted banking relationship and choose from a range of solutions based on their needs. Whether you want to protect your health, vehicle, property, business or other assets, Family Bank Bancassurance offers solutions including credit life, medical, motor, fire, property, marine and other business covers.
Visit Family Bank Bancassurance website to find the cover that suits your needs:
#Imarisha Biashara Yako Na Bancassurance
CEO & Co-Founder, Abojani Investment
Robert Ochieng is a visionary entrepreneur and the co-founder of Abojani Investment, a leading financial education platform in Kenya that has empowered over 20,000 Africans to embark on their investment journeys. As CEO, he has demonstrated an unwavering commitment to financial literacy, successfully demystifying money and investments and making them accessible and relevant to individuals from all walks of life.
Running Thriving Investment Communities
Robert’s influence extends well beyond Abojani Investment’s core offerings. He has actively fostered a sense of community by running investment forums and groups with a vast following of over 300,000 Africans. These communities provide a safe space for individuals to exchange ideas, share experiences, and support each other on their investment journeys.
Vision for the Future
As co-founder of Abojani Investment, Robert envisions a financially empowered Africa. He strives to expand the reach of his financial education initiatives, enabling millions more to gain the knowledge and confidence needed to achieve their financial goals. His vision is to create a society where every individual has the tools and understanding to build lasting wealth and prosperity.
Professional Background
Robert Ochieng is a highly accomplished CEO at the helm of Abojani Investment, an investment and advisory firm in Kenya. He is a seasoned professional with over 14 years of experience in IT, Finance, and leadership.
His career includes key roles at prominent institutions such as Equity Bank, Gulf African Bank, Guaranty Trust Bank (GTBank) and Airtel.
Robert’s expertise has also been sought after by the National Treasury for consultancy on planning and budgeting systems, showcasing his exceptional knowledge and skills in the field. Passionate about driving meaningful conversations and collaborations between academia, industry, and the public sector, Robert actively engages in research projects focusing on digital transformation within the financial services sector. With his visionary leadership and strategic insights, Robert Ochieng continues to make a significant impact in the business world.
