Non-banking financial institutions on the move

Many non-banking financial institutions have since existed for years but rather ignored by many Kenyans and people worldwide.

This has been because of the losses many have had from con men in the country claiming to be part of the institutions.

However a group of people have not been part of insurance as a non-banking financial institution having been victims of fraud.

Insurance has been a saving tool, from buildings, vehicles, life, health, education and other human preferences.

The insurance sector in Kenya is principally regulated by the Insurance Act of 2013 and this has encouraged many.

According to Mr. Joseph Jonyo; an executive consultant from Sanlam Insurance, the institution’s mandate is to assist and try to bring a long term savings spirit in individuals as it accesses the risk based portfolios that can assist one manage investments, education and life as an all-round item that everyone needs.

A former TSC enployee, who resigned from his teaching profession to be a sales agent says he has managed to meet his goals since he joined Sanlam.

He adds that his interaction with people from different parts of the country has changed lives of people in the country.

Jonyo now encourages people to acquire insurance policies having been a light to the society.