Kenyan insurance comparison platform MyInsure wants to address the challenges hindering the local and pan-African insurance markets by taking the industry online. With insurance products currently achieving only limited traction in most African markets, Kennedy Kioko, chief executive officer (CEO) of MyInsure says there are a myriad of obstacles imposed by both consumers and providers holding back
Jubilee Insurance is betting on investment in new fraud detection systems to tame an upsurge in dubious claims. Regional Chief Executive Julius Kipng’etich said yesterday fraudulent claims had hit record highs, especially in the medical and private motor segments, eating into the underwriter’s profits in recent years. “Fraud is very serious, especially in the medical
The insurance industry is a powerhouse both locally and abroad as it employs thousands of people. However, it is subject to increasing number of pressures that have threatened its business model over the years. These companies are tasked with a growing number of premiums in a competitive market in part by structural changes and new
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