In a move to simplify and modernise insurance savings policy management, Old Mutual Kenya has today unveiled its new Lengo Digital Savings plan, which allows customers to invest, manage, and continuously monitor their savings with ease.
Lengo is designed to enhance savings, allowing customers to do so while enjoying the security of insurance coverage. Whether planning for education, homeownership, car purchase, or that once in a lifetime holiday, customers can now conveniently manage their savings and protection through the customer-friendly digital platform which is integrated into the Old Mutual Website.
“Customers’ needs continue to evolve, particularly with the advances that we see in technology and better understanding of financial planning. We are committed to keeping up with digital evolution and continuously innovating to offer solutions that make financial services simple, efficient, and accessible. With this new solution, we are empowering you to navigate savings and life assurance with ease, while minimising the costs that are typically associated with these services. There are tax advantages to saving for the long term, which our customers will also enjoy with this product,” said Loreen Makwanya, the MD, Old Mutual Life Assurance Kenya
The Lengo Digital Savings product is also designed to promote financial planning by providing users with the tools and resources to make informed savings decisions. Through the solution, users can monitor the growth of their savings, track their progress towards their financial goals, and access relevant information, including premiums, policy charges and encashment benefits, to optimise their financial strategies.
This is part of Old Mutual’s strategy to enhance its customer experience by leveraging innovative technology to meet the evolving needs of Kenyan consumers.
“By simplifying the process of saving and offering greater transparency, we are ensuring that our customers have access to reliable and affordable savings with life assurance products, helping them secure their financial future,” added Group CEO Old Mutual East Africa Group, Arthur Oginga.
The Lengo Digital Savings plan is accessible via the Old Mutual website.
The Old Mutual Group in East Africa comprises Old Mutual Holdings PLC and its subsidiaries & Old Mutual East Africa Holdings Group Limited and its subsidiaries, which include, Old Mutual Investment Group, and Faulu Microfinance Bank. The Group, which operates an integrated financial services business model, is one of the largest in East Africa and offers customers insurance, investment, banking, and savings solutions.
The Old Mutual Group is part of Old Mutual Limited (OML). As part of OML, the Group can leverage technology and technical expertise to serve customers better and offer broad career growth prospects for employees. The Group operates in Kenya, Uganda, South Sudan and Rwanda.
In Kenya, where it has served customers for over 178 years, the Old Mutual Group has the leading short-term insurance business, an investment business with over Kshs 268Bn in Funds Under Management, and a fast-growing Life Assurance business. It has established diverse distribution networks via brokers, an agency force, direct sales, bancassurance, and digital channels.
In South Sudan, the Group has the most prominent short-term insurance business. In Uganda, the Group has the largest Life Assurance Business, the largest Asset Management Business with over 67% Market share, and the second-largest short-term business in the country. Old Mutual also has short-term insurance businesses in Rwanda.
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