The insurance industry in Kenya on Sunday converged to celebrate the big performers for the period 1st January to 31st December 2019.
The Association of Kenyan Insurers (AKI) Awards saw UAP-Old Mutual crowned the General Insurance Company of the Year, CIC Group named the Group Life Insurer of the Year, while Britam took the Life Insurance Company of the Year Award.
Heritage Insurance was recognized as the company that best utilizes the Integrated Motor Insurance Database System (IMDS). The system has so far saved the insurance industry over Ksh42million in fraudulent claims. AKI Executive Director, Tom Gichuhi noted that the Association is exploring the possibility of developing a similar system in health insurance.
“In 2019, the Secretariat developed virtual motor insurance certificates. The objective was to ease the process of acquiring motor insurance. This is a very exciting development that has been embraced fully by motor underwriters,” Gichuhi noted, “The transition from physical to virtual certificates will be phased and we expect to fully migrate to the virtual certificates by mid this year.”
A total of 535 agents qualified in the 2019 competition from 16 insurance companies. The 43 General insurance sales agents who qualified sold a total of 3,054 policies that generated a total of Ksh57million.
Among those who were feted was Anastacia Muroki who sold 54 policies valued at Ksh 101.7 million for Britam. She received the Life insurance new business agent’s award for that. She was also celebrated as being the senior-most insurance agent to qualify.
Zipporah Kanari from APA Insurance took the General Insurance Agent of the Year award. She sold 66 policies valued at Ksh2.87million. Onesmus Mutua from Britam was recognized as the youngest agent to qualify. Aged 24, Mutua was able to sell 56 policies valued at Ksh11.85million.
Samson Muthee from Kenindia Assurance took the Persistency Award, having retained 99% of his customers. The persistency award is given to life insurance agents who retain their customers year on year. Life insurance is long term and customer retention is critical.
The AKI awards happen annually to bring together the industry and to recognize performing insurance sales agents and companies. Last year, Jubilee Insurance and Britam Insurance were named the best in the General insurance and life insurance respectively.