Equity Life Assurance Wins Top Honours at 24th AKI Awards, Scoops Innovation and Best Loss Ratio Titles

Equity Life Assurance (Kenya) Limited (ELAK) Limited emerged winner of two categories during the AKI Awards: Best Loss Ratio Award and Group Life Insurance Innovation under the Group Life Best Practice category. ELAK also emerged as the 1st Runner-Up for Group Life Insurance Company of the Year. The awards, which marked the 24th edition of the Association of Kenya Insurers (AKI) Awards 2025 were held at Carnivore Grounds in Nairobi under the theme “Customer First: Strengthening Agent–Customer Relationships Through Digital Innovation”.

The Best Loss Ratio Award honours life insurance companies with the best average loss ratio by managing risk and generating profits from underwriting claims. ELAK, owned by Equity Group Insurance Holdings Limited (EGIHL), a subsidiary of Equity Group, recorded an impressive loss ratio, indicating efficient risk management and positive financial performance.

ELAK also received the Group Life Insurance Innovation Award, which celebrates insurers that develop creative and impactful solutions for corporate clients. The recognition highlights organizations that leverage technology, data, and innovative product design to meet evolving customer needs while improving access, convenience, and efficiency in insurance service delivery.

Speaking after receiving the awards, ELAK Deputy Managing Director, Calvince Onduru thanked customers, Equity’s leadership, and staff for their key role in the achievement. “These recognitions ultimately belong to our customers, whose trust inspires everything we do and motivates us to continuously improve how we serve them. Their confidence in us to protect what matters most drives our commitment to delivering solutions that are simple, reliable, and tailored to their needs.

The awards also reflect the dedication of our teams who work tirelessly to create innovative products and deliver exceptional service every day. As we move forward, we will continue investing in digital innovation to make our services more accessible, efficient, and responsive, ensuring we create even greater value for families and businesses across Kenya,” said Onduru.

As the first runner up in Group Life Insurance Company of the Year, ELAK was recognised for prudent pricing and risk selection, product innovation, full premium payment with adherence to AKI’s minimum rates and standard quotation forms, timely registry and data submissions, and steady portfolio growth. The category recognizes overall excellence in group life insurance and evaluates growth in corporate insurance portfolios, customer service standards, product offerings, and the ability to deliver value to employers and employees through well-structured group protection solutions.

Congratulating the winners for their exemplary performance in the past year, Insurance Commissioner and CEO of the Insurance Regulatory Authority, Godfrey Kiptum, urged industry players to remain committed to serving customers diligently despite challenging economic conditions. “I take this opportunity to congratulate all the winners. As insurers, our responsibility is to ensure that the policies we offer truly protect customers and shield them against losses when they need support the most,” he said.

Meanwhile, Tom Gitogo, Chairman of the AKI Board, emphasized the need for the industry to keep the customer at the center of service delivery while embracing innovation and digital transformation. He noted that this approach would strengthen collaboration among insurers, agents, and other stakeholders in building a stronger insurance ecosystem.

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