Lloyds Capital – Insurer’s Loans
Lloyds Capital offers a specialized loan product known as Insurer’s Loans, tailored exclusively for individuals employed in the insurance industry. Eligible professionals include principal officers, underwriters, business developers, claim administrators, accountants, finance managers, care managers, HR personnel, actuaries, risk assessors, and IT specialists who have worked in the insurance sector for at least one year.
This product is designed to meet the financial needs of professionals within the insurance sector, providing affordable and accessible credit. The loan amount is determined based on the individual’s net salary and credit history, with repayments made through a salary check-off system or other agreed repayment methods.
The Insurer’s Loan provides an opportunity for employees in the insurance industry to access tailored financing solutions that support their financial wellbeing and personal growth.
Market
Our primary target market is staff employed directly by insurance companies, excluding individuals in brokerages and insurance agencies.
The following underwriting insurance companies have been identified as the main potential clients:
CIC Insurance
ICEA Lion
Britam Insurance
Jubilee Insurance
Geminia Insurance
Madison Insurance
MUA
Sanlam
First Assurance
G.A Insurance
Liberty Insurance
UAP
AIG
AAR
The initial pilot for this product will be rolled out within Nairobi, with gradual expansion to surrounding regions.
Eligibility Criteria
To qualify for the Insurer’s Loan, applicants must meet the following conditions:
Be employed in one of the identified insurance companies listed above
Be a permanent employee
Have worked with the company for at least one year
Hold one of the following positions:
Principal Officer
Underwriter
Business Developer
Claims Administrator
Accountant / Finance Manager
Care Manager
Human Resource Personnel
Actuary
Risk Assessor
IT Specialist
Insurer’s Loan Requirements – Lloyds Capital
To qualify for an Insurer’s Loan from Lloyds Capital, applicants must provide the following:
Personal Identification Documents
Recent passport photo
Copy of National ID
KRA PIN copy
Next of kin’s ID copy
Relevant professional certification (e.g., ACII, COP, AIIK, CPA)
Income Supporting Documents
Employment letter
Three (3) most recent pay slips
Twelve (12) months’ M-PESA statement
Twelve (12) months’ salary account bank statement
Loan Security & Guarantee
Two (2) referrals, with at least one being a work colleague
Completed chattels form
Post-dated cheques
Proof of residential address (e.g., lease agreement or utility bill copy)