Listed non-banking financial services firm Sanlam Kenya Plc has announced the launch of the Sanlam Akiba Plus Pensions product that will be primarily delivered and distributed on its digital platform.
The new mobile-first Sanlam Akiba Plus has been designed to boost life insurance product penetration and retirement savings growth, while allowing for self-service convenience and online onboarding for digitally savvy consumers.
The launch of the product aligns with recently released industry statistics issued by the Insurance Regulatory Authority (IRA), confirming that Kenya’s insurance industry had recorded robust growth in the second quarter of the year, driven by Digital Transformation initiatives and Regulatory Reforms. According to the IRA, during the period under review (Q2 2025), the long-term (Life) insurance business reported gross written premiums of Ksh 110.39 billion, representing a 17.7% growth compared to the same quarter in 2024.
Speaking when she confirmed the launch of the new Sanlam Akiba Plus, Sanlam Life CEO Jacqueline Karasha said the firm is investing heavily in Insurance Technology (InsurTech) innovation, research, and development to boost the uptake of digital Life Insurance products.
She further affirms, “Our goal with Akiba Plus is to close the pension gap in Kenya by offering a simple, credible and future-ready solution that works for everyone. This is about helping Kenyans save consistently and retire with dignity.”
Sanlam Life, a member of the Sanlam Kenya Group, is actively working to promote financial inclusion and accelerate national savings through pensions products in Kenya by delivering digital solutions that empower individuals and businesses to take control of their financial future.
“The development of Sanlam Akiba Plus underscores the wider commitment and investment by Sanlam Kenya to enhance the delivery and distribution of insurance products through robust digital platforms,” Dr. Patrick Tumbo EBS, Group CEO, Sanlam Kenya said.
He added, “With Sanlam AkibaPlus, our existing and potential clients will now enjoy convenient access to a platform that allows them to take charge of their savings, increase their wealth and grow their retirement savings.”
The mobile-first Sanlam Akiba Plus platform allows users to self-onboard into personal pension plans, while enabling employers and SME entrepreneurs to set up workplace pension schemes for their employees.
All Sanlam Akiba Plus contributions will be guaranteed against capital depreciation and will earn a guaranteed minimum return of 5%. The scheme’s assets will be managed in accordance with the Trust Deed and Rules, Investment Policy Statement (IPS) and the Retirement Benefits Act.
