How A Fish Entrepreneur Got Ksh.2,000,000 Insurance Payout Through Kifedha Limited

This story is a testament to what happens when a financial partner becomes more than just a lender. It's about turning unexpected setbacks into opportunities for trust, compassion, and unwavering commitment.

At Kifedha Credit, we pride ourselves on not only offering financial solutions but also going above and beyond to support our customers during difficult times.

One of our valued clients, Lee Ochieng, successfully negotiated a higher insurance payout after an unfortunate car accident, thanks to Kifedha's expert guidance.

This case study highlights how we made it happen.

Table of Contents

1. Overview of Lee’s Loan
2. The Challenges Lee Faced
3. Kifedha’s Solution and Assistance
4. Results: A Higher Insurance Payout
5. Why Choose Kifedha for Logbook Loans?
6. How to Apply for a Logbook Loan

1.Overview of Lee’s Loan

Client Name: Lee Ochieng
Age: 28 years
Location: Kisumu
Vehicle Used as Security: Volvo S60
Loan Amount: KES 550,000

2.The Challenges Lee Faced

As a fish entrepreneur in Kisumu, Lee needed working capital to grow his business. In September 2024, he secured a logbook loan of KES 550,000 with his Volvo S60 as collateral through Kifedha Limited.
Unfortunately, two weeks later, Lee was involved in a road accident, and his vehicle was declared a total loss.
Key Challenges:

• Loan Repayment Struggles: Without his vehicle for personal and business transportation, Lee’s ability to repay the loan was affected.
• Insurance Payout Issues: The initial offer from his comprehensive insurance provider, CIC Insurance, was KES 1.5 million—a figure Lee believed undervalued his vehicle.
• Navigating Insurance Claims: Lee needed expert help to negotiate a better settlement with the insurance company.

3.Kifedha’s Solution and Assistance

Recognizing Lee’s challenges, our insurance manager stepped in to provide personalized assistance. Here's how we helped:
Personalized Support:

• Expert Guidance: Our insurance manager consulted Lee, reviewed his insurance policy, and identified areas for negotiation.
• Accompanied Meetings: We accompanied Lee to discussions with CIC Insurance, ensuring his concerns were addressed effectively.
• Negotiation Expertise: Leveraging our experience with insurance claims, we helped Lee negotiate for a higher payout.

4.Results

The result? Michael not only received full compensation but also experienced something far more valuable—peace of mind during a stressful time. His trust in us deepened, and he subsequently entrusted us with his future insurance brokerage needs.

Through Kifedha’s assistance, Lee successfully increased his insurance payout from KES 1.5 million to KES 2 million. The process took 7 weeks from the accident to the payout.

Results: A Higher Insurance Payout
The higher insurance payout allowed Lee to:

1. Repay His Loan: Lee used part of the payout to clear his outstanding loan balance with Kifedha.
2. Purchase a New Vehicle: With the remaining funds, Lee placed a deposit on a replacement car, ensuring his business operations could continue.
3. Return for More Financial Support: Impressed by the seamless assistance he received, Lee returned to Kifedha to apply for another loan for business expansion.

5.Why Choose Kifedha for Logbook Loans?

Our interaction is more than just a business transaction. This is our promise: When life challenges you, we stand with you. Every step of the way

Since 2016, Kifedha Limited has been empowering individuals and businesses with fast, reliable logbook loans. Here's why customers like Lee trust us:

• Flexible Loan Options: From working capital and school fees to home repairs and medical emergencies, we cater to diverse needs.
• Wide Service Network: With branches in Ongata Rongai, Kitengela, Ngara, Kiambu, and Thika, we serve clients across Nairobi, Kiambu, Machakos, and Kajiado counties.
• Dedicated Support: Our team goes the extra mile to provide personalized solutions, including insurance assistance.

6.How to Apply for a Logbook Loan

Ready to get started? Applying for a logbook loan with Kifedha is simple and hassle-free.

• Visit our website: Kifedha Limited
• Start your application here: Apply for a Loan
• Call us at +254791573231 for any inquiries.

At Kifedha, we’re not just lenders—we’re partners in your financial journey. Whether you need working capital, emergency funds, or expert insurance assistance, we’re here to help you achieve your goals.

Let’s work together to secure your future.