Industry and Trade

Jubilee Insurance shines at Agents Choice Awards 2017

NAIROBI, Kenya, Nov 6 –  Jubilee Insurance was the best performer in this year’s Agents Choice Awards scooping five awards out of the thirteen awards.

Among the awards include  best in risk management solution, best product for its funeral cover, as well as Training Excellence and Impact as well scooping the biggest award of the night the ‘Overall Agents Choice Award’ 

Agent of the year  also went to John Ithoka of Jubilee Insurance while CEO of the year went to David Maranga of Mornarch Insurance.

Amaco Insurance scooped the Corporate Social responsibility while GA Insurance scooped best claim settlement.

These awards are hosted by Bima Intermediaries Association of Kenya, the only umbrella body representing all insurance agents and intermediaries.

The winner for the 2017 Best Counter Fraud Initiative was GA Insurance while the winner of Best Motor Vehicle Repairer – small vehicle category – was Autofine Ltd.

In heavy commercial vehicle category, one garage stood out .Axel Engineering & Manufacturing Ltd.

The Awards were themed AGENTS OF CHANGE at a time where unlicensed insurance agents are negatively affecting the sector amid a negative growth in insurance penetration and a decline of profit margins.

There is an alarming increase of rogue agents who are now between 2500 to 3000 agents.

Licensed insurance Agents have grown from 4,862 in 2012 to about 7,720 in 2016.

 

Insurance in Kenya is mainly sourced through agents, brokers or directly by insurance companies with agents taking the lead by 46.3 percent.

 

 

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