NAIROBI, Kenya- Equity Bancassurance Intermediary Ltd and Equity Life Assurance (Kenya) emerged as top achievers at the 2024 Insurance Awards, held in Nairobi.
Organized by Think Business Limited, this prestigious event celebrates excellence and innovation in Kenya’s insurance sector.
Equity Bancassurance Intermediary Ltd was the star of the night, clinching multiple accolades that cement its status as a leader in bancassurance.
The company was recognized as the Overall Best Bancassurance Intermediary Ltd, thanks to its comprehensive approach and outstanding performance. The awards included:
- Overall Best Bancassurance Intermediary Ltd – Winner: Honored for exceptional performance across various metrics.
- Most Customer-Centric Bancassurance Intermediary – Winner: Celebrated for its commitment to customer satisfaction and enhancing the client experience.
- Best Bancassurance Intermediary in Technology Application – Winner: Acknowledged for leveraging technology to innovate and improve service delivery.
- Best Bancassurance Intermediary in Life Products – Winner: Commended for excellence in developing and offering diverse life insurance products.
- Best Bancassurance Intermediary in Non-Life and Non-Embedded Products – 1st Runners Up: Recognized for its excellence in non-life insurance products and services.
Equity Life Assurance (Kenya) Ltd also made a significant impact at the awards.
With a remarkable growth in insurance assets by 288pc to KSh 20.8 billion and a 108pc increase in Profit After Tax within 21 months as of December 31, 2023, ELAK captured 4th position in market share.
This stellar performance was honored with the following awards:
- Chief Executive Officer (CEO) of the Year – Winner: Angela Okinda, Managing Director of Equity Life Assurance (Kenya) Limited, was awarded for her business excellence, leadership, corporate governance, innovation, and strategic execution.
- Life Insurer of the Year – Winner: Recognized for leadership in the industry through innovative product offerings, thought leadership, financial soundness, and strong risk management policies.
- Most Customer-Centric Underwriter – Life – Winner: Celebrated for unique and relevant product innovation, customer-centric service excellence, and seamless use of technology.
- Best Insurance Company in Corporate Social Responsibility – Winner: Awarded for impactful corporate social activities across the country, delivered through a well-organized foundation.
- Claims Settlement Award – Life Assurance – 1st Runner-Up: Recognized for ease and customer-centricity in the claims management process, speed of settlement, and governance.
Celebrating Excellence and Innovation
The awards ceremony, now in its 14th year, highlighted the pivotal role of thought leadership, innovation, stability, and customer focus within the insurance sector.
Entries were rigorously evaluated by a panel of expert judges, assessing financial performance, innovation in product development, risk management practices, corporate governance, and social responsibility initiatives.
