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Business models blamed for slow insurance uptake

Insurance vs risk [Photo Courtesy]

A shift in the business models of insurance firms has been blamed for the low uptake of their products.

Participants at the just-concluded Actuarial Society of Kenya’s (TASK) Actuarial Convention 2017 in Nairobi heard that insurers are also not keen on calculating premium charges and instead resort to using unreliable models that do not fit in the local market.

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