NAIROBI, Kenya, Oct 22 – For a long time, insurance penetration across the coastal region, which covers counties like Mombasa, Kilifi and Kwale, has remained lower than the national average.
While insurance companies have traditionally paid lots of attention to vibrant economic regions like Nairobi and Central Kenya, coastal counties have grappled with limited access to insurance intermediaries.
This has resulted into a low awareness and by extension low uptake of insurance products in the coast region.
However, as the region has continued to diversify its economy beyond tourism into trade, logistics and real estate, insurance providers have taken a notable interest in this region.
Leveraging partnerships with various agents and brokers, these companies have stepped up their engagement with the region to bridge the awareness gap and promote financial inclusion through tailored insurance solutions.
In September this year for example, First Assurance hosted an intermediaries’ dinner in Mombasa, bringing together agents, brokers, and business partners from across the region.
The event, part of the company’s ongoing engagement drive, served as a platform to celebrate performance, strengthen relationships and reaffirm the company’s commitment to extending insurance access in the region.
The event was as much a celebration of partnership as it was a reflection of the company’s long-standing legacy of trust.
Over nearly a century, the company has made efforts to transition from being a traditional insurer into a forward-thinking, customer-driven organisation, building products and partnerships that respond to the needs of modern Kenyans.
“As we celebrate 95 years of service, our focus remains on deepening relationships with our partners and customers,” said Stephen Lokonyo, Managing Director at First Assurance.
“The Coast region holds immense potential and through collaboration with our intermediaries, we’re ensuring that every Kenyan individual, SMEs, and institutions alike can access financial protection and peace of mind,” he added.
For First Assurance, intermediaries are the backbone of insurance growth. Agents and brokers serve as the link between the company’s innovative products and the customers who need them most.
The company has been intentional about supporting intermediaries through training programmes, digital process automation, and tailored insurance solutions designed to meet regional needs.
Products such as First Afya Biashara, which provides affordable medical cover for SMEs and Bima Taasisi, which protects educational institutions against risks like fire, have been particularly relevant in coastal counties where small businesses and private schools are rapidly expanding.
First Assurance’s 95-year milestone marks not only its longevity but also its resilience and capacity to adapt to Kenya’s evolving socio-economic landscape.
From its beginnings in 1930, the company has remained steadfast in its promise. Built on Trust. Focused on Tomorrow.
The insurer has invested heavily in digital transformation, introducing tools such as automated policy dispatch, online quotation systems, and 24-hour customer support, all aimed at improving accessibility and customer satisfaction.
Such innovations are redefining how insurance is delivered bridging the gap between traditional service and modern consumer expectations, thus promoting Kenyans to take up insurance.
As economic activity intensifies at the Coast with major infrastructure projects, port expansion and a growing SME base, the demand for tailored insurance solutions is expected to rise. Yet, limited awareness and misconceptions about insurance continue to hinder uptake.
Through platforms like the Mombasa dinner, First Assurance is reinforcing its partnership model, one that recognises that sustainable growth in insurance relies on collaboration, education and trust.
