Insurance industry players converged in Nairobi over the weekend to celebrate winners of the AKI Awards for the year 2022.
The AKI Awards, hosted by the Association of Kenya Insurers, saw Britam take both the General Insurance Company of the Year and the Life Insurance Company of the Year Awards. These awards go to the company with the highest number of qualified agents and the highest aggregate points in all the Life and General Insurance categories.
Fidelity Shield Insurance company was recognised as the company that made the best use of the Integrated Motor Insurance Database System (IMIDS) in 2022. This award goes to the company that demonstrates the best quality underwriting and claims data, has the highest number of system users and saved the most through the system.
The innovation award in Group Life Business went to Equity Life Assurance, while the Individual Life Business Innovation Award went to Pioneer Assurance. This award goes to the company that had new innovative products and distribution channels during the competition year.
The event came right after the international women’s day celebrations and the AKI Chairman, Mr James Oyugi, while addressing the gathering noted that “we have 18 female CEOs leading both insurance and reinsurance companies. This is a 30% representation. This signifies good progress, but I know we can do better”.
He further reiterated that having women on the decision-making table helps an organisation make wholesome decisions and strategies because then they have full representation of the population.
A total of 783 insurance sales agents met the qualifying criteria in 2022 compared to 349 in 2021.
Caroline Karanja from Old Mutual won the 2022 General Insurance Agent of the Year Award having sold 75 policies worth Ksh4.3 million. Position two went to Elvis Agesa of Madison Insurance, while Kennedy Oyaya of Old Mutual took position three.
Life Insurance Agent of the Year-New Business Award 2022 went to Ruth Mumbe Nyingi of Britam having sold 154 policies valued at Ksh33.8 million. This award goes to the agent who has sold the highest number of policies and retained over 80% of their customers over a two-year period. Positions two and three went to Beryl Onyango and James Mosigisi both from ICEA LION.
The 2022 Life Insurance -Persistency Award went to Jayshree Haria from Jubilee Insurance. Positions two and three went to Ann Wanjama and Stephen Njoroge both from Britam. This award is given to the insurance agent with the highest customer retention rate over a three-year period.
The event comes at a time when the Association is working closely with its membership to roll out digital platforms that will improve customer service and education, increase efficiency, and reduce fraud.