INSURANCE INDUSTRY IN KENYA
The principal role of insurance companies is carrying the burden of fears and risks from you and promise to take care of damages or losses distressing your life or property. In Kenya we have over 60 registered insurance companies. With most of them offering both life and general insurance; others offers either life or general insurance.
Most products offered by insurance companies are the same; however, each insurer has an array of value-added services for its consumers. So, when making decision on where to buy a policy, it is appropriate to go for the best insurance provider in the country. Always seek advice before purchasing any policy. This can help you in buying something that meets your insurance needs.
Many policy holders in Kenya’s insurance industry do not understand who their insurers are or even what they do; this is why it is highly advisable to have a proper knowledge of the insurance market. For the best decision making, below is a list of the best insurance companies in the Kenyan market.
- British American Insurance Company Kenya Limited (BRITAM).
Popularly known as Britam by most consumers in Kenya, it is one of the leading financial service groups and also one of the best insurance companies to date. It offers a range of diversified financial products and services in banking, property, asset management, and insurance. Britam has the best life, general and micro-insurance services in the Kenyan market with a wide range of products for both individuals and businesses.
Their insurance products include; Personal accident cover, Education plans, Home insurance, Medical insurance, Motor vehicle insurance, Fire insurance, Liability insurance, Professional indemnity, Marine insurance and also a leading provider of Cyber insurance. Having had decades of experience in the insurance industry, it is able enough to provide flexible solutions to help businesses and individuals plan for the future. They are located along Elgon Road, Upper Hill Nairobi, Kenya.
It is one of the best and the oldest insurance company in the Kenyan market. Being in the Kenyan insurance industry since 1984; its primary business model was to evacuate accident casualties by road and air. For decades, AAR has created more opportunities giving its customers a comprehensive health cover.
It provides different insurance solutions such as Travel insurance, Personal accident cover, Individual and family medical plans, Business enterprise medical plans, Professional indemnity cover, Homeowners insurance. It is also a major provider of school, marine and landlord insurance cover. Their rates are flexible and competitive in the insurance market. You can walk into their office in Real Tower, Upper Hill, Nairobi, Kenya.
- AIG Kenya Insurance Company.
It is one of the largest and the leading insurance companies in the world. Previously known in as Chartis Kenya and later, Alico Insurance with operations from the year 1972. The company has seen tremendous growth to become one of the leading insurance providers in Kenya.
It also offers products for both businesses and individuals which are; Domestic package insurance, Private and commercial motor vehicle insurance, Travel insurance, individual personal accident insurance, image protector insurance; And property, aviation and marine insurances for businesses. AIG also covers business liabilities and has an array of fiscal lines to protect both SMEs and large corporations. They are located at Eden Square Complex, AIG House along Chiromo road, Nairobi.
- UAP Old Mutual.
UAP Old Mutual Group is a financial services firm. It is one of the largest financial service groups in the Kenyan insurance industry. They offer financial services such as asset management, investment and banking solutions to its consumers.
Their insurance products include; health insurance, personal accident cover, home insurance, agriculture insurance, corporate health insurance, motor commercial cover. It boasts as a leading provider of disability income cover in the region which covers individuals against the loss of income mostly due to accidental physical harm. They are located at UAP Old Mutual Tower along Upper Hill road, Nairobi Kenya.
- CIC General Insurance
CIC Group is one of the most experience insurance and financial services providers in the Kenyan insurance industry. Spanning three decades of existence, the firm has brought about some innovative products that have made it of the best medical insurance company in Kenya. It is also a leading in provision of micro-insurance in Kenya.
Their products include General insurance, life insurance, and health insurance. Its vast policies covers both individuals/families and businesses. It also offers customized products that meet the needs of its clients. Their offices are located CIC Plaza, Mara road, Upper Hill, Nairobi.
- Resolution Insurance Company
Formerly known as Resolution Health, it began its operations in the year 2002. It also has many insurance products in the industry. It provides many solutions that cater for the insurance needs of Kenyans. Its products include; property covers, motor covers, medical plans, travel plans, liability, all classes of general insurance.
The company’s insurance products provide value to customers wherever and whenever they may be. This company also allows its policyholders to contribute premiums in flexible monthly installments. Their offices are at Parkfield Place, Muthangari Drive, Off Waiyaki Way, Nairobi.
- Jubilee Insurance Company Limited
Incorporated in the year 1937, it is one of the oldest insurance companies in Kenya and played a major role in establishment of insurance Industry in the country. It is the best insurance firm in Kenya and offers different types of insurance products and solutions.
Some of the products they offer are; Home insurance, Motor insurance, Education plans and Health insurance. Spanning over eight decades of experience in the industry, this firm is able to create long lasting solutions for its clients. Its policies are simple and it has one of the best medical insurance rates in the country. It has offices at Jubilee Insurance House, Wabera Street, Nairobi.
- Madison Insurance Company
Incorporated in the year 1988, Madison Insurance is a diversified financial service provider. It provides some of the best insurance products in the country with the most reasonable rates.
It diversified solutions are designed to meet customer expectations. Its insurance products include; General insurance, health insurance, life insurance, travel insurance. And it also boasts as one of the best education insurance company in Kenya. Its education policy seeks to facilitate children to live their dreams by covering the costs involved. They have offices at Madison House, Upper Hill Close.
Generally, the best insurance firms in Kenya are those that make it easier for consumer to buy policies and will cover them in the event of calamities.
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