Fairfirst Insurance partners with Koko

Saturday, 28 January 2023 01:47 - - {{hitsCtrl.values.hits}}

In another industry-first, Fairfirst has partnered with Koko, one of Sri Lanka’s leading ‘buy now pay later’ platforms, to ease the burden of making large lump-sum payments for their insurance premiums.

Since its initiation in 2020, by the reputed e-commerce marketplace Daraz, Koko which focused solely on providing services for Sri Lankan debit cardholders, gained the trust of over 1.5 million customers and 1000 merchants within considerably a short period of time.

It is an application that allows customers to pay online or offline and the latest being insurance in 3 interest-free instalments within 60 days from the date of sale.

Acknowledging the indisputable benefits of Koko in bridging an accessibility gap in the insurance market Koko Head of Commercial for Financial Services Naheed Zainudeen stated: “Koko has consistently worked towards the empowerment of its users wherever their needs may be. Unlike traditional credit & EMI plans, Koko does not hold the full purchase amount but instead allows payments to be split into 3 simple instalments repaid every 30 days.

“This provides our users with the cash-flow flexibility and the hassle-free experience they need to access critical services like Fairfirst’s Insurance plans, thus aligning with Koko’s key goals of changing its customers’ lives, one transaction at a time.”

Joining hands to introduce insurance via this platform has enabled Fairfirst, a general insurer focused on making insurance more affordable and accessible, to offer a variety of insurance solutions that suit one’s needs through a convenient instalment scheme.

Regarding their continuous progress in meaningful innovative services Fairfirst Insurance Manager Digital Solutions Dilshan Rabbie stated: “At Fairfirst we are passionate about continuous investment in meaningful, efficient and value-driven innovations.

“This is especially true in the current situation, where the focus on making society more resilient by helping our customers bridge their protection gap is key. This is why we provide meaningful innovation because our customers deserve the best at every touch-point of their journey with us.”