Top Six Challenges Facing the Insurance Sector in Kenya

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.