Insurance brokers in Kenya have been urged to enhance customer trust to sustain growth of insurance though transparency, professional conduct, accountability and improved claims experiences.
Speaking during the Association of Insurance Brokers of Kenya 20th Annual Regional Conference in Mombasa, AIBK National Chairman John Arap Lagat said trust remains the foundation of the insurance profession with customers at the centre.
“Our responsibility is not simply to leave behind a bigger insurance industry, but a better one: more inclusive, more resilient and more responsive to the needs of our customers,” said Lagat.
He called on insurance brokers to strengthen their role as trusted advisers, risk management partners and advocates for policyholders, while embracing innovation, professional excellence and greater accountability.
According AIBK, insurance brokers currently control an estimated 35% of Kenya’s gross written premium which stood at Ksh 467 billion as at the end of last year.
Brokers have further been challenged to strengthen industry relevance, address underinsurance, improve insurance literacy and develop solutions that respond to the evolving needs of households and Macro, Small and Medium Enterprises (MSMEs).
The conference will explore the transformative impact of technology, including artificial intelligence, digital distribution, data analytics and automation, while examining emerging risks such as climate change, cyber threats, rising healthcare costs and economic uncertainty.
The conference brings together at least 700 delegates from across the East African Community (EAC), including Kenya, Uganda, Tanzania, Rwanda and Burundi.
Delegates include industry professionals and decision-makers, leaders of insurance brokerage firms, regulators, policymakers, regional insurance broking associations, strategic partners and other key players across the financial services sector.
