Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Jubilee Insurance feted in Agent Awards

R-L Chairman Jubilee Holdings Nizar Juma & CEO Jubilee Insurance Kenya Patrick Tumbo

NAIROBI, Kenya, Nov 6 – Jubilee Insurance scooped four awards at this year’ Insurance Agents Choice Awards that happened at the weekend.

The Insurance firm scooped the best in risk management solution, best product for its funeral cover, as well as Training Excellence and Impact.

The agent of the year went to John Ithoka of Jubilee Insurance while CEO of the year went to David Maranga of Monarch Insurance.

Amaco Insurance scooped the Corporate Social responsibility while GA Insurance scooped best claim settlement.

“The winner in this category (best claim settlement) pays claims in the shortest time possible. In addition, garages have no challenges working with this insurance company. The company was also noted to have little bureaucracy in claims processing as compared to most insurance companies,” the citation reads.

The awards are hosted by Bima Intermediaries Association of Kenya, the umbrella body representing insurance agents and intermediaries.

The Awards were themed ‘Agents of Change’ at a time when unlicensed insurance agents are negatively affecting the sector amid a negative growth in insurance penetration and a decline of profit margins.

There is an alarming increase of rogue agents who are now between 2500 to 3000 agents.

Licensed insurance Agents have grown from 4,862 in 2012 to about 7,720 in 2016.

Insurance in Kenya is mainly sourced through agents, brokers or directly by insurance companies with agents taking the lead by 46.3 percent.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...