Chanas Assurances and UBA Cameroon Strengthen Strategic Partnership with New Bancassurance Agreements

Chanas Assurances and United Bank for Africa (UBA) Cameroon have announced the signing of two significant bancassurance agreements, marking a new chapter in their strategic partnership. The collaboration aims to expand the availability of financial and insurance services in Cameroon, combining UBA’s banking expertise with Chanas Assurances’ extensive experience in insurance.

The official signing ceremony took place at the headquarters of Chanas Assurances in Douala on Friday, 13 December 2024. The event was attended by key executives, including Jude Anele, Managing Director of UBA Cameroon; Henri Théodore Bayouak, Director General of Chanas Assurances S.A.; and Nelly Bakang epse Yomba, Director General of Chanas Assurances Vie S.A.

The partnership introduces two innovative insurance products: UBA Safe Ride and UBA Funeral Insurance. UBA Safe Ride is a cutting-edge automobile insurance solution, available through the UBA network. It incorporates mobile payment options through M2U, MTN Mobile Money, and Orange Money, allowing for a seamless subscription process, with contracts delivered directly to customers’ homes. Additionally, the claims management process has been optimized for efficiency.

The UBA Funeral Insurance provides comprehensive financial protection for subscribers and their families, offering two coverage options, including an international repatriation guarantee. Coverage amounts range from 500,000 to 2,500,000 FCFA, with services processed within four working days, ensuring a hassle-free experience for customers.

This partnership prioritizes digital innovation, with integrated mobile payment solutions and a dedicated digital platform for easy subscription. Simplified and digitized processes will ensure greater accessibility through UBA’s extensive branch network across Cameroon.

By offering these products, the partnership aims to democratize access to insurance in Cameroon, streamline subscription and management processes, and provide innovative solutions tailored to the needs of the local market. The collaboration further strengthens the presence of UBA Cameroon and Chanas Assurances in the country’s financial and insurance sectors.