Mastercard has announced a partnership with Hillcroft, also known as mTek, to integrate tailored insurance products into its consumer and SME (small and medium enterprises) card offerings. This collaboration aims to enhance convenience and accessibility to insurance for millions of users in East Africa.
The joint effort will embed insurance options directly into the payments ecosystem that consumers and businesses already utilize on a daily basis. By doing this, both companies hope to streamline the process of accessing affordable insurance coverage, making it easier for individuals and organizations to protect themselves against various risks.
This initiative is expected to impact a wide audience, particularly in regions where traditional insurance penetration is low. By providing coverage through a familiar platform, Mastercard and Hillcroft could potentially reach underserved markets. This could lead to increased financial inclusion, allowing more people and businesses to gain access to essential insurance services that they might not have considered otherwise.
Embedding insurance into everyday payment systems represents a growing trend in the financial sector. It reflects an understanding that modern consumers prefer integrated services that offer convenience. While the collaboration is specifically tailored for East Africa, similar models might emerge in other regions as the demand for accessible insurance grows.
Overall, this partnership aims to cater to the unique needs of East African consumers and businesses, fostering a more comprehensive approach to risk management.
Original Source: https://techafricanews.com/2025/09/30/mastercard-partners-with-hillcroft-mtek-to-roll-out-embedded-insurance-in-east-africa/