The Moses Kemibaro Podcast
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Recently, I had the privilege to attend and record the launch event of GA ECO DRIVE Insurance Cover by GA Insurance. This product is not only a first in Kenya but also a pioneer in the African insurance market, serving as an example of innovation and foresight in the industry.
GA
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ECO DRIVE: Comprehensive EV Insurance
The GA ECO DRIVE insurance policy is meticulously crafted for EV owners, providing protection tailored for unique EV-related risks. From safeguarding your vehicle’s battery and charging cable to offering unprecedented coverage like cyberattack protection and Autonomous Driving cover, this policy is your ticket to a worry-free EV driving experience.
Key Benefits:
Battery Cover: Assurance for your EV’s crucial component.
Charging Cable & Station Cover: Protection against theft or accidental damages to cables and your private charging station.
Out of Charge Recovery: Never fret about running out of charge unexpectedly.
Cyberattack Coverage: Navigate the digital roads with confidence.
In-Car Entertainment & Navigation System Cover: Enjoy your in-car tech perks securely.
Third-party Coverage: Assurance for injuries or damages due to charging cables.
Kenya's EV Insurance Opportunity
With the African Electric Vehicle Market poised to burgeon from $11.94 billion in 2021 to an astounding $21.39 billion by 2027, the launch is timely. Specifically in Kenya:
Over 1,350 EVs are registered as of February 2023, with projections for substantial growth.
Government plans indicate that by 2025, 5% of all registered vehicles will be electric.
Nairobi’s existing power infrastructure can efficiently support a significant switch to electric two-wheelers and 10% of other vehicles, laying the groundwork for a more extensive EV adoption.
Why Is this Launch Important for Kenya?
The introduction of GA ECO DRIVE is not only timely but also aligns perfectly with the Kenyan government’s commitment to reducing carbon emissions. With the transport sector being a significant contributor to carbon emissions, adopting electric vehicles is a step in the right direction. However, the lack of specialized insurance products has been a barrier to EV adoption, and GA ECO DRIVE is here to fill that gap.
A Panel Discussion Worth Every Minute
The launch event wasn’t just about the unveiling; it was also a powerhouse of knowledge and insights through a panel discussion that was nothing short of enlightening. The panel brought together industry stalwarts, each providing a unique perspective on the EV and insurance landscape in Kenya.
Panelist Insights:
Sandip Bhadury, GA Insurance CEO, provided valuable insights into Insurance Distribution.
Rishi Kohli, Founder & CEO of Fika Mobility, enlightened us on the challenges and prospects of EV Manufacturing.
John Msingo, CRO of EVChaja, dove deep into EV Charging Infrastructure, a critical component for the proliferation of electric vehicles.
Jihan Abass, Founder & CEO of Lami Technologies, explained the Insurtech approach to EV insurance, which is crucial for the digital age.
Dustin Kahler, Director of Mobility of M-Kopa, shared thoughts on EV financing.
Karanvir Singh, CEO of Yego, discussed the potential and future of ride-hailing for electric vehicles.
With Ezekiel Macharia, the Chief Actuary and MD at Kenbright Insurance Brokers, expertly moderating the panel, the discussion was rich, engaging, and informative.
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