Equity Bancassurance Intermediary Ltd and Equity Life Assurance (Kenya) Ltd, emerged as top achievers at the 2024 Insurance Awards, held at the JW Marriott Hotel in Nairobi. Organized by Think Business Limited, this event celebrates excellence and innovation in Kenya’s insurance sector.
Equity Bancassurance Intermediary Ltd, recognized as the Overall Best Bancassurance Intermediary Ltd, clinched multiple accolades, reinforcing its position as a bancassurance leader in the industry:
- Overall Best Bancassurance Intermediary Ltd – Winner: Recognized for its comprehensive approach and outstanding performance across various metrics.
- Most Customer-Centric Bancassurance Intermediary – Winner: Honored 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 life insurance products that meet diverse customer needs.
- Best Bancassurance Intermediary in Non-Life and Non-Embedded Products – 1st Runners Up: Acknowledged for excellence in non-life insurance products and services.
Equity Life Assurance (Kenya) Ltd, was recognised at this edition of Think Business Awards. Having grown insurance assets by 288% at KSh 20.8 Billion and growing Profit After Tax by 108% within 21-months of operations as at 31 December 2023, ELAK had captured 4th position in market share. This performance was honored by the awards below:
- Chief Executive Officer (CEO) of the Year – Winner: Angela Okinda, Managing Director, Equity Life Assurance (Kenya) Limited. Awarded for business excellence and outstanding performance, people and thought leadership, corporate governance, innovation and strategy execution
- Life Insurer of the Year Category – Winner: Equity Life Assurance (Kenya) Limited. Recognized for leadership in the industry; through innovation in product offerings, thought leadership, financial soundness, enhancing stability through adoption of strong risk management policies as well as good corporate governance
- Most Customer-Centric Underwriter – Life – Winner: Equity Life Assurance (Kenya) Limited. This award recognized unique and relevant product innovation and offering, customer-centric servicing excellence as well as seamless use of technology and digital applications.
- Best Insurance Company in Corporate Social Responsibility Category – Winner: Equity Life Assurance (Kenya) Limited. Awarded for impact on people and communities through corporate social activities across the country with diversity and innovation, delivered through a well organised foundation and in a sustainable manner.
- Claims Settlement Award – Life Assurance Category – 1st Runner-Up: Equity Life Assurance (Kenya) Limited. Awarded for ease and customer centricity in the claims management process, speed of settlement of claims and governance.
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.