Global insurtech giant bolttech has officially entered the Kenyan market through a strategic partnership with LOOP, the fintech subsidiary of NCBA Group. Together, the two companies have introduced LOOP FLEX, a first-of-its-kind device financing and protection program set to roll out in October. This launch marks a major step in addressing the growing demand for affordable and secure device ownership in Kenya’s fast-paced digital economy.
LOOP FLEX is a Buy Now, Pay Later (BNPL) solution designed to make smartphones and essential gadgets more accessible to Kenyans. Beyond financing, it uniquely combines affordability with protection, allowing customers to spread the cost of their devices while safeguarding them from theft, accidental damage, and breakdowns. This seamless integration of financing and insurance sets LOOP FLEX apart from traditional BNPL models, offering customers both flexibility and peace of mind.
The program’s standout features include theft protection, where customers receive a voucher towards a new device after 30 days with only a 10% deductible; one-time repair cover for cracked screens, damaged casings, battery issues, internal faults, and liquid damage; and certified repairs with genuine parts carried out by authorized service providers. Additionally, customers enjoy coverage for repairs up to the original device value, with all claims processed and tracked through bolttech’s digital platforms for ease and convenience.
Kenya’s digital economy thrives on smartphones, which are central to payments, work, education, and entertainment. However, the high upfront costs of devices, coupled with risks of theft and damage, often limit access for many. LOOP FLEX addresses these challenges head-on by offering affordable monthly payments combined with robust protection. This innovation ensures that more Kenyans can own and maintain the devices that power their daily lives without financial strain or uncertainty.
Commenting on the partnership, Eric Muriuki, CEO of LOOP DFS, highlighted the customer benefits, noting that LOOP FLEX empowers customers with access to essential devices through affordable financing while providing them with confidence through comprehensive protection. Stephan Tan, CEO EMEA and Group CIO of bolttech, emphasized Kenya’s position as one of Africa’s most dynamic digital economies and expressed excitement at embedding protection directly into the device ownership journey through this collaboration.
For bolttech, this launch represents more than just a new product—it marks the company’s official entry into Africa. By partnering with LOOP, bolttech gains strong local credibility while LOOP strengthens its product offering with global expertise. This collaboration not only empowers customers but also reinforces Kenya’s position as a hub of fintech innovation, bridging global technology with local needs in shaping the future of digital access and protection.
#bolttech #LOOPFLEX #DigitalEconomy #BNPL #DeviceProtection #FintechInnovation #KenyaTech #EmbeddedProtection #Insurtech #AfricaTech