Tag: Insurance

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To thrive, digital transformation must take precedence in the insurance industry

Kimani Chege

By Fred Ruoro In Kenya, as in many parts of the world, the insurance sector is fundamentally revered as a   provider of financial security and stability to individuals and businesses alike. However, despite its importance, the industry has often been perceived as a slow adopter of new technologies in favour of its  traditional modus operandi. To truly expand and thrive in the post pandemic era, it is imperative that the Kenyan insurance industry embraces digital transformation and innovation in line with evolving consumer patterns. According to the 2023 Economic Survey by Kenya National Bureau of Statistics, Kenya’s insurance penetration rate … Continue reading To thrive, digital transformation must take precedence in the insurance industry

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Middle Income Driving Motor Insurance in the Country

Kimani Chege

Motor Insurance industry in the Country has experienced a recognizable growth within the last two years. Optimists would say that it is as a result of the increasing middle income in the country, but this alone is debatable considering the increasing high cost of living. According to Insurance Regulatory Authority Q4 industry report, general insurance business in the country grew by 3.5 per cent, a factor that mostly driven by compulsory motor insurance. Reached for comments, Kennedy Misati, Chief Manager-Central Claims Hub at Kenindia Assurance Company averred that as much as the majority of waged employees are low income earners, … Continue reading Middle Income Driving Motor Insurance in the Country

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KENINDIA ASSURANCE APPOINTS NEW CHIEF FINANCIAL OFFICER

Kimani Chege

Kenindia Assurance Limited, one of Kenya’s oldest insurance company has today announced the appointment of Mr. Mohan Jha as its Chief Financial Officer (CFO). Leading the financial and operational functions of the company, Mr. Jha will help drive the Kenindia’s growth strategy and support all strategic and operational initiatives across the regional business. A qualified chartered accountant, Mr. Jha brings 26 years of experience leading the financial, commercial and business operations of growth-oriented businesses. Prior to joining Kenindia Assurance, Mr. Jha worked 26 years at Life Insurance Corporation of India, the state owned life insurance behemoth of India, with a … Continue reading KENINDIA ASSURANCE APPOINTS NEW CHIEF FINANCIAL OFFICER