What is Business Insurance?
Business interruption insurance is a type of insurance that covers the loss of income that a business suffers after a disaster.
The income loss covered may be due to the disaster-related closing of the business facility or due to the rebuilding process after a disaster.
Best Business Insurance Companies In Kenya
The Jubilee Insurance Company Kenya
Jubilee Holding Ltd is a Mombasa-based insurance company that provides various services to both individuals and businesses. Its insurance solutions aim to provide affordable but high-quality policies to corporations and employees.
Jubilee has established itself as one of Kenya’s leading insurance firms, with offices in Uganda, Tanzania, and Burundi with over 450,000 clients.
Also, the company is listed on the Nairobi and Dar es Salaam stock exchanges. On top of that, the firm has garnered numerous awards and recognitions over the years for its outstanding leadership, customer service, and risk management.
Britam Insurance Kenya
The British-American Insurance Company, also known as Britam is a top-tier financial organization established in Kenya that offers cutting-edge insurance services. For example, the Afya Tele is a health microinsurance plan aimed at SMEs and registered groups of ten or more people.
In addition, in 2019, the company received the Tall Buildings and Urban Habitat (CTBUH) award. Moreover, Britam was recognized as the best life insurance company in 2019 by the Association of Kenya Insurance (AKI)Agents. Today, Britam is Kenya’s most flexible and best life insurance company, thanks to its unique strategy and years of experience in the market.
CIC Insurance Group
Many homeowners do not realize the value of home insurance until something goes wrong. Such as a fire, robbery, terror attack, explosion, or anything else that could cause property harm. As a result, having a domestic package gives you peace of mind, knowing that you will get compensated in such situations. That’s where CIC insurance comes into play.
Third-party liabilities and domestic employees also get covered from accidental injury. CIC General Insurance is one of Kenya’s most well-known insurance and financial services firms.
The insurance company, which has been in business for almost three decades, has thousands of satisfied customers. Today CIC is among the best home insurance companies in Kenya.
The AAR Insurance Kenya
AAR Insurance is one of Kenya’s oldest and most reputable insurance companies. It began its operations in the country in 1984. Its initial business concept was to evacuate accident victims by air and road. However, AAR has expanded its offerings to its consumers over time.
With AAR health insurance policy, individuals and companies enjoy comprehensive coverage that includes chronic and congenital conditions, maternity and psychiatric treatment consultations, and treatments.
Madison Insurance Company Kenya
One of the most important aims for each parent is to have a successful child’s education. Madison, a local insurance firm founded in Kenya in 1988, will assist you in achieving this goal. The Bima ya Karo Educational Plan is a program it offers.
It’s an amazing insurance choice for parents who want to set aside money for their children’s education. It is a way of ensuring children’s future education. By covering the expenditures, this strategy allows children to pursue their ambitions.
The company currently has an asset base of up to Ksh 5 billion. It offers some of the top insurance products in the country at competitive prices.
First Insurance Kenya
Prudential Assurance Company PLC, a British multinational insurance organization that began operations in East Africa in 1930, was the forerunner of First Assurance Company. Prudential Assurance Company changed its name to First Assurance Company Limited in January 1991, when it became a wholly-owned Kenyan company.
The firm offers one of the most comprehensive insurance policies for the marine industry. From the initial port to the final destination, marine insurance protects the loss or damage of ships, cargo, and any precious products. When transporting important cargo by sea, air, or land, you must ensure its safety from loss or damage. That is where the First Assurance comes into play.
Kenya Alliance Insurance Company
Established in 1915, Kenyan Alliance Insurance had the objective of taking over the Sun Alliance group’s operations. The organization has grown into one of Kenya’s leading insurance companies as a member of the Association of Kenya Insurers.
With a Ksh. 6.8 billion asset base and a Ksh. 700 million paid-up capital.
Today, the organization provides one of the best motor vehicle insurance in Kenya.
Address location: Chester House, 1st Floor, Kenyatta Ave, Nairobi | Contact: +254-202-241-626
Which is the most profitable insurance company in Kenya?
Among insurers listed on the Nairobi Securities Exchange, Sanlam is the most profitable with a claims ratio of 59.4 percent. It is followed by Britam (63.2 percent), CIC (67.2 percent) and Jubilee 69.4 percent.