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Top Six Challenges Facing the Insurance Sector in Kenya

BY · September 18, 2015 07:09 am

Here are the top six challenges that have faced the insurance sector in Kenya, ones that have led to serious loses and winding up of insurance firms, creating a worse perception in the market for clients.

  • False claims being pushed by fraudulent people to defraud the insurance firms
  • Refusal by the insurance firms to honor genuine claims hence killing the little existing client confidence
  • Poor marketing and PR strategies that have failed to reach out to the potential market for insurance subscribers
  • Failure by insurance firms to do research to be able to understand the dynamics needs by the target market
  • Brokers and middle men have contributed significantly to the stagnation of the insurance sector
  • The issue of price undercutting in the sector is a significant issue that’s being perpetrated by the brokers/middlemen

InsureAfrika has a solution to all these challenges.

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