The future of insurance companies is predicted to be quite optimistic as many Kenyans are targeting to protect themselves from current market conditions, which seem quite uncertain at this point in time.
Photo Credits: Svndance KE
Due to the current mood, enormous opportunities exist for Kenyan insurers, as individuals, communities and organisations seek to manage change and plan for the future. If the market was ever primed and ready to reap benefits of insurance, that time is now.
Here are the top 3 insurance companies that have cited to embrace innovation, corporate structures and diversity to cultivate a profitable business environment for them and their dear customers.
Jubilee Insurance ( 250.00 p/s )
Jubilee Insurance rolled out a video consultation service that will enable patients to virtually get access to medical advice to both cover holders and non-cover holders. Patients who might be suffering from diseases such as diabetes, malaria, tuberculosis, coughs and colds can download the app, key in their details and connect to a doctor remotely. The application is available for download on Google Play Store.
Sanlam Kenya ( 15.00 p/s )
Sanlam Kenya recorded a pre-tax profit of Sh.550 million in the year 2019 compared to a pre-tax loss of Sh.2.1 billion made the previous year. This growth has been attributed to a consistent execution of a corporate turnaround strategy of improving its operating efficiencies while paying keen attention to their clients.
Kenya Reinsurance ( 2.50 p/s )
Being one of the oldest insurance companies in Eastern and Central Africa, Kenya Re, with a firm capital of Sh.6.99 billion, has plans to diversify their business portfolio to various international markets such as Egypt, Sudan and Nigeria, having already done so in Uganda with a 11.5% stake in Uganda Re. They posted a net profit of Sh.3.9 billion in 2019 compared to 2.8 billion in 2018, pushed up by gross premiums underwritten which which rose from Sh.14.8 billion to Sh.17.5 billion.
Prices are as of 27th May, 2020*.
Comments