ACTUARIES DRIVING ESG INNOVATION

ACTUARIES DRIVING ESG INNOVATION

INTRODUCTION Environmental, Social and Governance (ESG) is a framework used to evaluate an entity’s business practices, governance, reporting and performance on sustainability issues. ESG criteria evaluates the social responsibilities, governance…

GENERATION Z REDEFINING INSURANCE DEMANDS

GENERATION Z REDEFINING INSURANCE DEMANDS

INTRODUCTION The insurance industry is undergoing a significant transformation with the emergence ofGeneration Z (Gen Z) as a new cohort of consumers. Gen Z possess unique characteristics,expectations and preferences different…

INSURANCE INDUSTRY RESPONSE TO FLOOD RISK IN KENYA

INSURANCE INDUSTRY RESPONSE TO FLOOD RISK IN KENYA

INTRODUCTION As of May 3rd, a report by the UN Office for the Coordination of Humanitarian Affairs(OCHA) indicated that over 205,000 individuals were affected by recent floods in Kenya,with 195,304…

IMPACT OF TAX ON INSURANCE COMPENSATION

IMPACT OF TAX ON INSURANCE COMPENSATION

Insurance serves as a financial safety net, providing protection from unanticipated occurrences that may negatively impact people’s lives and businesses. Insurance works like a cushion which helps you or your…

PRICING OF INSURANCE FOR ELECTRIC VEHICLES

PRICING OF INSURANCE FOR ELECTRIC VEHICLES

Electric vehicles are increasingly dominating the global market, with this seeking to reduce carbon emissions. Electric vehicles accounted for 14% of the total number of cars as at the end of 2022, with the number…

MEDICAL INSURANCE PERFORMANCE IN KENYA

MEDICAL INSURANCE PERFORMANCE IN KENYA

The following research highlights the trends in the medical insurance industry in Kenya from 2015 to 2020.

In 2020, medical insurance was the largest class in the general insurance business, accounting for 34.4% of the total gross direct premium income.

LONG-TERM INSURANCE INDUSTRY

LONG-TERM INSURANCE INDUSTRY

Long term insurance industry has recorded steady growth in premiums at an average rate of 11.9% p.a over the last 5 years with pensions and life assurance being the largest classes in terms of the volume of business written.

MTPL – INSURANCE INDUSTRY PRACTICES IN KENYA

MTPL – INSURANCE INDUSTRY PRACTICES IN KENYA

The PSV sector has experienced significant setbacks in that a number of PSV underwriters have become unable to pay claims and thereby been put under statutory administration.