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Brokers urged to embrace technology, partnerships to increase insurance uptake

NAIROBI, Kenya, Jun 3 – The Kenyan insurance industry is making strides in the adoption of technology to increase service delivery while enhancing overall customer experience.

Against this background, CIC General Insurance Limited Managing Director Elijah Wachira has urged intermediaries to embrace technology as a marketing and distribution channel, with a view to increasing insurance penetration in the country.

Speaking during the Association of Insurance Brokers of Kenya (AIBK) meeting Wachira noted that technology adoption will increase insurance penetration through mobile applications accessible to both the public and service providers.

He also urged intermediaries to embrace partnerships with experienced, reputable insurance companies like CIC.

In order to offer timely services, increase efficiency and enhance customer experience, CIC has migrated to a new system set to benefit intermediaries and customers.

Some of the features include real time updates on lodged claims and a self-service portal that will enable the customers and intermediaries to update their bio data details, view their premium/ commission statements, generate quotations of different insurance cover options and purchase preferred covers among other features.

His sentiments were echoed by AIBK National Chairman Nelson Omolo, who commended CIC for investing in technology that led to the improvement in the company’s bottom line.

“Technology will be the next frontier of competition in the insurance industry and CIC has heavily invested in this sector, which is ultimately paying dividends,” said Omolo.

To reach the rural population with insurance services, CIC Insurance Group has tapped on mobile technology for interactive communication and money transfer.

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With mobile penetration rate at more than 95 per cent of adult population, CIC M-Bima technology has opened space for retail distribution for micro-insurance products.

The underwriter is using mobile phone as a tool for marketing and customer service operations.

“We endeavour to bring our products and services closer to our clients through technology and branch networks all over the country.

We have also collaborated with various intermediaries who are very instrumental in the distribution of our products to our clients, Wachira added.

Through mobile technology, insurance products are marketed and distributed using organized networks such as small shopkeepers, mobile money stores.

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