Tag Archives: Top 10 Insurance Brokers in Kenya

INSURANCE NEWS & INFORMATION

Bancassurance Intermidiaries in Kenya {Ultimate List}

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In need of information on all the accredited Bancassurance Intermidiaries in Kenya? Look no more. Bancassurance is the practice of an insurance company selling its products through a bank’s distribution channels.1 In Kenya, this has become a popular model, and many major banks and insurance groups offer this service.

Here are some of the key institutions and groups involved in bancassurance in Kenya:

🏦 Major Banks Offering Bancassurance

Many of the top commercial banks in Kenya have established dedicated bancassurance subsidiaries or departments, offering a wide array of insurance products to their customers.

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Bank Bancassurance Offering Key Products
Equity Bank Kenya Equity Bancassurance Intermediary Limited (EBIL) Motor, Non-Motor (Fire, Burglary), Personal Accident, Life, and Education plans.
KCB Bank Kenya KCB Bancassurance Intermediary Life, General, and Health Insurance.
Co-operative Bank of Kenya Co-op Consultancy & Bancassurance Intermediary Motor, Medical, Travel, General, Micro-Business, and Life Cover.
Standard Chartered Bank Kenya Standard Chartered Bancassurance Intermediary Limited (SCBIL) Motor, Travel, Home, Personal Accident, and various Life Protection plans (e.g., Educare).
Absa Bank Kenya Offers a range of personal and business insurance products through partnerships. Personal Accident, Car Insurance, Home Insurance, Life Cover.
Stanbic Bank Kenya Stanbic Bancassurance Intermediary Limited Motor, Health (HeriAfya), Lifevest, Soma Plan (Education), and Retirement funds.
NCBA Bank Kenya NCBA Insurance Personal, Business, and Corporate insurance products, including Group Health, Property Insurance, and Credit Life.
Diamond Trust Bank (DTB) Offers Bancassurance services. General Insurance, Medical Insurance.
I&M Bank Provides Bancassurance services. Motor, Life, and general insurance products.
KWFT (Kenya Women Microfinance Bank) KWFT Bancassurance Intermediary Ltd Life and non-life insurance products, including Livestock Insurance.
Sidian Bank Sidian Bank Bancassurance Intermediary Known for winning awards as an intermediary in risk management and non-life/non-embedded products.

🛡️ Major Insurance Groups and Providers

The banks often partner with or own some of the largest insurance groups in Kenya to underwrite the policies.

  • Jubilee Insurance: A well-known provider, often partnering with banks to offer health and motor policies.

  • Old Mutual Holdings: Offers a broad spectrum of solutions including Motor, Life Assurance, and Health Insurance, and operates its own extensive bancassurance services.

  • CIC Insurance Group: Popular among SMEs and cooperatives, providing life, general, and asset management services.

  • Britam Insurance: Known for its diverse range of products including life, health, and general insurance.

  • ICEA LION Group

  • APA Insurance

  • Sanlam Kenya

Bancassurance is advantageous for consumers as it offers “all-in-one convenience”—you can access banking and insurance services at one point, often with tailored packages and competitive premiums.

Full list of accredited Bancassurance Intermidiaries in Kenya {Latest}

 

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INSURANCE NEWS & INFORMATION

Licensed Insurance Brokers in Kenya {IRA Official List}

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Kenya has a vibrant insurance sector with numerous insurance brokers who act as intermediaries between clients and insurance companies. They help individuals and businesses find suitable insurance products.

 Key Services Insurance Brokers Offer

Insurance brokers are generally utilized for:

  • Risk Assessment: Analyzing your needs to determine the right kind of coverage.

  • Comparison Shopping: Comparing policies, terms, and prices from various insurance companies to find the best fit.

  • Negotiation: Negotiating better terms and premiums on your behalf.

  • Claims Assistance: Guiding you through the claims process and helping ensure a fast and fair settlement.

Examples of Established Insurance Brokers in Kenya

Several brokers are well-known in the Kenyan market, serving a range of clients from individuals to large corporations:

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  • Sedgwick Kenya Insurance Brokers: Mentioned as a long-standing broker with expertise in general, health, and life insurance for diverse sectors. They have received awards in various categories.

  • Aon Kenya Insurance Brokers (Minet Kenya): A major global and regional brokerage firm, often handling large corporate and public sector clients (Minet Kenya is the former Aon Kenya).

  • J.W. Seagon Insurance Brokers (K) Ltd

  • Eagle Africa Insurance Brokers

  • Alexander Forbes Risk & Insurance Brokers Kenya Ltd

  • Laser Insurance Brokers: They are licensed by the Insurance Regulatory Authority (IRA) as an insurance broker and a medical insurance provider (MIP).

  • Majani Insurance Brokers Ltd: Stated as a leading independent broker with over 45 years of experience in East Africa.

  • Clarkson Insurance Brokers

Regulatory Authority

All insurance intermediaries, including brokers, are regulated by the Insurance Regulatory Authority (IRA) in Kenya. You can often check their official website for the most current list of licensed insurance brokers to ensure you are dealing with a legally compliant entity.

Licensed Insurance Brokers in Kenya {IRA Latest List}