3 Advantages to monetising your customer base using insurance

Insurance is needed more than ever today.

Having a safety net to lean on in case of an unfortunate event is essential. Unfortunately, the majority of the African population is not insured and can not relate to the statement. The gap between the insurance needs and insurance coverage is getting wider and wider in a report by World Bank, Geneva Association and Swiss Re.

Lami partners with forward-thinking organisations to offer digital insurance products for their customers. By providing access to affordable and tailor-made insurance product, organisations become more relevant to their customers.

The Lami insurance platform allows business to integrate insurance products in their offering easily and rapidly scale up the insurance operation. In a few simple steps, companies can unlock the benefits of an integrated insurance program.

3 Benefits of Integrating insurance in your offering

Increase trust in your brand & improve customer satisfaction.

Insurance is beneficial for customers as it mitigates the effects of adverse events and the resulting financial loss. Creating an insurance program for your customers increases your brand’s relevance to the end-user when they need help; this will improve the experience of the users of your product or service and enhance their satisfaction with your brand. Onboarding customers into an insurance program offers brands an opportunity to engage and improve customer satisfaction beyond the purchase moment of a product or service.

Lami team works with businesses to design tailored insurance solutions that meet their customers’ needs

Grow customer lifetime value and loyalty.

Insurance plays a crucial role in growing revenues by increasing the customer’s average purchase value and retention rate. Using the Lami platform, businesses easily offer complementary or embedded insurance products to their customers; this provides an excellent experience for customers and increases their value. Insurance also offers an opportunity to maintain an ongoing relationship between your brand and your customers and increasing retention rates.

Lami helps business easily add digital insurance to an existing offering to bring more value to customers, with flexible payment options that meet their needs

Add a revenue stream.

Creating new revenues streams for your business will expand its growth opportunities. A digital insurance program for end customers can generate additional revenues for your company. Using the Lami platform, it is easy to include insurance in your offering, while the returns for the business are great. By including insurance in your business strategy, you increase your ability to create value for your customers and your business. We have partnered with leading insurance providers to customise products and mitigate risks across various parts of the business to suit your specific needs, timelines and budget anywhere.

Add another revenue stream, at little to no cost to the business, to sky-rocket growth

Integrate insurance into your strategy using Lami’s digital platform

Through Lami’s digital platform, underwriters and brokers gain access to a cloud-native, fully digital insurance ecosystem. Our partners have reduced their digital transformation timelines and budgets by up to 38% while improving operations through task automation and workflow optimisation.

Our customer success teams are available to support you in your insurance journey.