The health insurance sector in Kenya has several types of insurance policies targeting the general public. These plans are devised to meet the needs of Kenyans seeking insurance covers for their families and for companies requiring covers for their employees. Here are the key types of insurance policies that you will find in the Kenyan
Unpredictable road activities and conditions can challenge even the best of drivers out there. Insurance was created to protect you from unexpected and unlikely events. Here are some scenarios where a car insurance can act as a life saver! Cost of Minor Car Accident When your car is involved in an accident, the damages caused
One-third of fraudulent insurance claims in the first three months of this year involved fake claims of either stolen or damaged motor vehicles, new data shows.According to the Insurance Regulatory Authority (IRA) quarterly report, there were 30 fraud cases reported across all the segments in the first quarter (Q1), with nine of those being in
By CORRESPONDENT, NAIROBI, Kenya, Jul 9- GreenTec Capital, a German investment boutique focused on African start-ups, has entered into an investment agreement with Bismart, a Kenyan start-up insurance aggregator leveraging on digital platforms and technologies to educate and advice customers on the best insurance and investment solutions available in the Kenya market. GreenTec, headquartered in
Insurance frauds will pay 10 times the amount swindled if MPs pass a new law. The Insurance (Amendment) Bill, 2018 further proposes insurance fraudsters be jailed for a period not exceeding five years. The bill by National Assembly’s Finance committee chairman Joseph Limo on behalf of the National Treasury states one is guilty of an
About 16 insurance firms will this Friday fight for awards in a quiz competition by an agency seeking to professionalise the sector. Insurance Institute of Kenya says the firms whose teams emerge top in the competition will get cash, trophies and a fees waiver. Communications chief Christine Ronga said the quiz is part of the
The Insurance Regulatory Authority plans to publish new regulations governing Islamic based insurance products commonly referred to as Takaful before the end of this year. The authority says it has finished drafting those regulations and awaiting treasury’s approval. The Islamic based insurance is expected to register close to two billion shillings worth of business this
If you visit healthcare facilities – whether in the villages or towns – you are likely to notice the proliferation of posters offering financial assistance, screaming messages such as “instant credit” or “loans within 48 hours”. It is by design, not accident, that microfinance institutions and other credit companies find customers in hospitals. Being sick
On the 25th of June 2018, IIB (Insurance Information Bureau) in conjunction with Strathmore business school hosted the Africa Insurance Summit at the Kenya School of Monetary Studies. Insurance leaders from Africa convened for a two-day conference to discuss how the African Insurance Market can leverage disruptive technologies to create growth opportunities and shape the
Insurance premiums hit Sh160.2 billion in the nine months to September 2017 with long-term underwriting recording better growth than the general segment. However, 62.3 per cent of the industry business comprised of general or short-term insurance, latest data from the industry regulator shows. Insurance Regulatory Authority (IRA) third quarter 2017 figures show that gross premium
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