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Duncan Willetts

Finance

Jubilee Insurance boss wins Africa CEO of the Year award

Jubilee Insurance Kenya CEO Patrick Tumbo

Jubilee Insurance Kenya CEO Patrick Tumbo has been named CEO of the year at the 42nd Conference and General Assembly of Africa Insurance Organization (AIO), the largest insurance event in Africa.

Mr. Tumbo was feted for his leadership in successful product development, excellent service delivery and innovative distribution channels introduced in the sale of insurance products by Jubilee Insurance to reach the grass root.

Speaking from Jubilee Center in Nairobi, Mr. Tumbo said that he is honored and humbled by the award and he hopes to impact the insurance industry positively for the future generations.

“We need to listen to our customers and develop products that serve specific customer needs and that way, the insurance sector will experience a revolutionary change for the better,” said Mr. Tumbo.

Speaking at the awards event, the Secretary General of AIO, Prisca Soraes said that the award to recognized achievers with regards to insurance practice, customer relations, product development, service delivery, risk management, market and geographical expansion and good corporate governance. She noted that the award is hoped to spur other players and practitioners to work towards achieving excellence thereby raising awareness and eventually increasing insurance penetration in Africa.

“Sharing and dissemination of new successful and practical ideas in the Industry can be a great tool to fast-track the development of insurance in the continent,” said Prisca.

The conference focused on the rise of political risk on the continent and the need for new risk pools to respond to natural catastrophic risk. The African Insurance Awards honored excellence in three categories – CEO of the Year, Innovation of the Year won by Mutual Benefits Insurance, Nigeria and Insurance Company of the Year won by Misr insurance company, Egypt.

The AIO is made up of 362 member insurers across 55 countries in Africa and theawards are intendedto foster the insurance sector in Africa through good corporate governance, insurance practice, leadership, risk management as well as innovative and sustainable growth.

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