Pan Africa Life Innovation and Jubilee Lifetime Achievement
Article @By: Yarinka Lukiza
http://www.bizrika.com/banking-and-finance/best-insurance-companies-in-kenya-named/
The 2011 best insurance companies in Kenya were named in the annual gala night organized by Think Business; a Kenyan based financial sector-focused company that specializes in strategic business intelligence, research and publishing.
During the colorful gala night held at a Nairobi hotel on 21 July, Chartis Kenya and Pan Africa Life were named the best insurance companies in Kenya in the General Life and Composite Business categories. The first and second runners-up positions in the best business category went to Jubilee and CIC Insurance respectively, while British American Insurance and Jubilee Insurance clinched first and second positions respectively in the Life Business category. CIC Insurance was declared the only runner-up in the Composite Business category.
Pan Africa Life and Jubilee Insurance emerged best in the Best Company in ICT category, coming in first and second place respectively. No company was deemed fit to win the Best Corporate Broker category.
Jubilee Insurance showed up again to scoop the Best Insurance Company in the Risk Management category.
Other awards and winners
Best Insurance Company in Claims Settlement (Life Business)
Winner: Apollo Life Assurance
Runners-up: Pan Africa Life and CIC Insurance
Best Insurance Company in Claims Settlement (General Business)
Winner: APA Insurance
Runners-up: Chartis Kenya and Jubilee insurance
Major Loss Award
Winner: Jubilee Insurance
Runners-up: APA Insurance
Best Fraud Detection and Prevention Initiative
Winner: Pan Africa Life
Best Medical Insurance Provider
Winner: AAR Health Services
Runners-up: Goldstar Health Care
Best Medical Insurance Underwriter
Winner: Jubilee Insurance
Best Customer Service Innovation
Winner: Jubilee Insurance
Runners-up: CIC and AAR
Best Insurance Company in Customer satisfaction
Winner: CFC Life
Runners-up: Britak and Kenindia
Best marketing Initiative of the Year
Winner: CIC Insurance
Runners-up: APA and Jubilee Insurance
Best Training Initiative of the Year
Winner: CIC
Runners-up: Pan Africa Life and Jubilee Insurance
Most Socially Responsible Corporate
Winner: AAR Health Services and Jubilee Insurance
Overall, Jubilee Insurance won the largest number of awards. The company bagged 11 awards in total and crowned it with the Lifetime Achievement in Insurance Award which went to Nizar Juma, the Jubilee Holdings chairman.
Commenting on the awards, Mr. Ochieng Oloo, the CEO of Think Business, said 2010 was a good year for the Kenyan insurance sector, as demonstrated by strong growth in total assets which went up from Ksh174 billion in 2009 to Ksh240 billion in 2010, representing an increase of 27%.
The industry’s profit before tax swelled by a record 42% to hit Ksh11.9 billion, up from Ksh6.8 billion in 2009.
Medical cover leading
Of all the insured Kenyans, 74% have taken up medical cover while 69% have insured against motor vehicle risks. Insurance covers for assets, education and accident account for 40%, 44% and 48% respectively.
Article @By: Yarinka Lukiza
http://www.bizrika.com/banking-and-finance/best-insurance-companies-in-kenya-named/
The 2011 best insurance companies in Kenya were named in the annual gala night organized by Think Business; a Kenyan based financial sector-focused company that specializes in strategic business intelligence, research and publishing.
During the colorful gala night held at a Nairobi hotel on 21 July, Chartis Kenya and Pan Africa Life were named the best insurance companies in Kenya in the General Life and Composite Business categories. The first and second runners-up positions in the best business category went to Jubilee and CIC Insurance respectively, while British American Insurance and Jubilee Insurance clinched first and second positions respectively in the Life Business category. CIC Insurance was declared the only runner-up in the Composite Business category.
Pan Africa Life and Jubilee Insurance emerged best in the Best Company in ICT category, coming in first and second place respectively. No company was deemed fit to win the Best Corporate Broker category.
Jubilee Insurance showed up again to scoop the Best Insurance Company in the Risk Management category.
Other awards and winners
Best Insurance Company in Claims Settlement (Life Business)
Winner: Apollo Life Assurance
Runners-up: Pan Africa Life and CIC Insurance
Best Insurance Company in Claims Settlement (General Business)
Winner: APA Insurance
Runners-up: Chartis Kenya and Jubilee insurance
Major Loss Award
Winner: Jubilee Insurance
Runners-up: APA Insurance
Best Fraud Detection and Prevention Initiative
Winner: Pan Africa Life
Best Medical Insurance Provider
Winner: AAR Health Services
Runners-up: Goldstar Health Care
Best Medical Insurance Underwriter
Winner: Jubilee Insurance
Best Customer Service Innovation
Winner: Jubilee Insurance
Runners-up: CIC and AAR
Best Insurance Company in Customer satisfaction
Winner: CFC Life
Runners-up: Britak and Kenindia
Best marketing Initiative of the Year
Winner: CIC Insurance
Runners-up: APA and Jubilee Insurance
Best Training Initiative of the Year
Winner: CIC
Runners-up: Pan Africa Life and Jubilee Insurance
Most Socially Responsible Corporate
Winner: AAR Health Services and Jubilee Insurance
Overall, Jubilee Insurance won the largest number of awards. The company bagged 11 awards in total and crowned it with the Lifetime Achievement in Insurance Award which went to Nizar Juma, the Jubilee Holdings chairman.
Commenting on the awards, Mr. Ochieng Oloo, the CEO of Think Business, said 2010 was a good year for the Kenyan insurance sector, as demonstrated by strong growth in total assets which went up from Ksh174 billion in 2009 to Ksh240 billion in 2010, representing an increase of 27%.
The industry’s profit before tax swelled by a record 42% to hit Ksh11.9 billion, up from Ksh6.8 billion in 2009.
Medical cover leading
Of all the insured Kenyans, 74% have taken up medical cover while 69% have insured against motor vehicle risks. Insurance covers for assets, education and accident account for 40%, 44% and 48% respectively.
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