Weekend Read
Bente Krogmann is a seasoned financial professional with extensive experience in Kenya’s financial and insurance sectors. Over the years, she has observed that many people across Africa find insurance confusing, expensive, and difficult to access. The traditional system is riddled with paperwork, lengthy processes, and hidden fees, making it unappealing to individuals and businesses alike.
Her perspective changed when she saw how mobile technology revolutionised African banking through platforms like M-Pesa. This sparked an idea: What if insurance could be fully digitised, allowing people to buy, manage, and claim policies directly from their phones—without middlemen, paperwork, or unnecessary delays?
Krogmann’s launches her innovation
Determined to bring this vision to life, Krogmann left her corporate career and, in 2020, founded mTek, a fully digital insurance platform.
mTek simplifies the insurance process, allowing users to compare policies, purchase coverage, and file claims seamlessly from their smartphones or computers. By connecting customers directly with insurance providers, the platform ensures transparency while reducing costs. The goal is to make insurance more accessible, affordable, and convenient—particularly in Africa, where traditional insurance services are often slow and cumbersome.
Despite initial resistance from insurers accustomed to paper-based transactions, the industry soon recognised the platform’s benefits, such as reducing fraud, cutting operational costs, and enhancing customer accessibility. As adoption grew, more users embraced the convenience of managing their insurance anytime, anywhere.
By mid-2022, Bente Krogmann and her team had onboarded over 20,000 users on the platform and partnered with over 35 Kenyan underwriters, offering over 100 tailored policy options. The company’s growth has been exponential, with its client base doubling each quarter since its inception.
mTek’s trategic growth and expansion
In June 2022, mTek secured a funding commitment from Finclusion Group, bringing its total investment to $3 million. This capital was dedicated to expanding operations within Kenya and across East Africa.
Furthering its mission, the company raised an additional $1.25 million in March 2024 from Verod-Kepple Africa Ventures and Founders Factory Africa. These funds strengthened mTek’s foothold in the East African insurance market and positioned it as a leader in insurtech innovation.
Krogmann sets new industry standards
Today, mTek is recognised as one of Kenya’s leading digital insurance platforms, with ambitious plans for expansion across Africa. By pioneering a fully digital, paperless insurance experience, Bente Krogmann has set new industry standards, proving that technology can make insurance more inclusive, efficient, and accessible for millions across the continent.
