Insurers scoop awards for top services

Think Business Limited Founder and Chief Executive Officer Ochieng Oloo (left), and Uganda High Commissioner Angellina Wapakhabulo life time achievement award to Britam Director Marketing and Corporate Affairs Muthoga Ngare of behalf of Britams Group Managing Director Dr. Benson Wairegi during the Insurance of the year award 2014 at Safari Park hotel 15/08/14. GOVEDI ASUTSA.

Kenya: Several companies went home a happier lot after bagging awards in the "Insurance Awards 2014" themed "Bancassurace: Laying the Foundation for growth"

ICEA Lion Life Assurance took The Risk Management award, Customer Service award and Life Insurer of the Year while ICEA Lion General Assurance was awarded the General Insurer of the year.

Jubilee Insurance won in four categories namely The Training, Socially Responsible Corporate, Fraud Detection and Prevention and Claim Settlement Life Awards.

Jubilee Insurance won three awards in the first runners up category and two in the second runners up category while ICEA Lion General Assurance bagged two awards as first runners up.

The awards were sponsored by Think Business in partnership with Association of Kenya Insurers (AKI). Other Sponsors include The Standard Group, Safaricom, Deloitte, Strathmore University and InfoTrack among others.

Standard Group CEO Sam Shollei called on the insurance companies to practice professionalism in their work and ensure delivery of quality product to their customers.

He added that they should look at best ways to grow the market, pointing at education programmes as one of their options.

Mr Shollei made the remarks in his speech read on his behalf by Standard Group's MD, Print Operations Francis Munywoki.

The winners were also treated to exclusive interview by the KTN crew on the ground. Standard Group assured that they were committed to sponsoring the event until next year.

The Insurance book Survey 2014 was also launched during the event at Safari Park Hotel on Thursday evening.

APA Life Insurance also won two awards, The Major Loss Award and Marketing Initiative of the Year, while also taking two first runners up positions.

Other winners included Pan Africa Life Assurance, Britam and Takaful Insurances topping in The ICT, Medical Underwrite of the Year and Claim Settlement General categories respectfully.

Think Business Founder and CEO Ochieng Oloo said it was the firm's fifth year into the awards and were involving more partners.

He noted that there have been major improvements in service delivery by the companies over the years.

AKI executive director, Tom Gichuhi expressed confidence in the performances of insurance companies noting that Kenya ranks fourth in penetration into the market in Africa.

"South Africa is number at 15.4 per cent, Namibia ranks second at 7.7 per cent and Mauritius ranks third at 5.8 while Kenya takes the fourth position with 3.44 per cent."

Kenya's insurance sector has largely remained untapped over the years but a number of insurance companies have been taking advantage of the low penetration by introducing new products and services. Penetration is less than four per cent.