NAIROBI, Kenya, Aug 18 – AAR Insurance, Madison Insurance and GA Life Insurance have been ranked the top insurers in settlement of claims by the Insurance Regulatory Authority.
GA Life Assurance settled 762 claims to emerge top in the long-term class while Madison was named best in compensating a third party with 571 liability cases settled in 2016.
The regulator ranked AAR as the best insurer in the non-liability general insurance category after it settled 86.3 per cent of the 256,661 claims it was handling during the period with the company rejecting a total of 1,778 claims in 2016.
AAR Insurance Kenya Managing Director Caroline Munene has said the Sh100 million investment in IT systems has helped improve efficiency in claim settlement.
“We hope to continue providing a better experience to our customers though the new web-based system that allows for faster processing of claims as well as the turnaround time for enrolling new customers,” said Munene.