THEME
REIMAGINING CUSTOMER EXPERIENCE
DATE | ACTIVITY |
---|---|
Mon, 13th March. 2023 | Award portal opens for entries / CSS starts |
Wed, 12th April, 2023 | Entries close/ CSS ends |
Mon, 17th April, 2023 | Judging Process starts/ CSS ends |
Fri, 28th April, 2023 | Judging Process ends |
Fri. 19th May, 2023 | Awards Gala |
Wed, 7th – Thur, 8th June, 2023 | Insurance Conference 2023/ Launch of Insurance Survey 2023 |
Event
Details
The theme of our Insurance Activities this year is
REIMAGINING CUSTOMER EXPERIENCE
Welcome to the 13th annual celebration of Kenya’s Insurance sector’s achievements. The Insurance Awards 2023 Gala will be held on Friday, 19th May, 2023 starting at 6.30 pm at the Nairobi Serena Hotel.
These awards are designed to assess recognize and celebrate innovation, prudence and stability in the sector by recognizing individuals and organizations that have exhibited outstanding performance in the sector over the past financial year.
The awards process focuses, first and most importantly, on financial stability and growth of industry players. In addition, the process seeks to celebrate players embracing innovation in product development and distribution, enhanced risk management practices, investing in the profession, adopting good corporate governance practices, as well as engaging in sustainable social corporate responsibility projects.
A panel of expert judges decide on the winners as per set criteria. The Judges, decisions are informed by analysis of financial information – statutorily published by the companies, as well as information provided in the entry documents. Where verification of information contained in the entry is necessary, the judges may contact the entrants directly.
The awards are organized by Think Business Limited, a strategic research, data and information company, specializing on the financial sector.
Entries submission opens on Monday 13st March, 2023 and close on Wednesday, 12th April, 2023.
PKF Kenya, the 2021 judging process partners, will oversee and audit the entire judging process, including the selection of judges, verification of entries and determination of winners.
All entries must be submitted on the new ThinkAwards platform accessible through the Think Business Insurance Awards website, www.insuranceawards.co.ke
Eligibility
Submission Guidelines
N/B All information contained in your entries remain confidential and will only be used for the intended purpose of the awards and will not be released to any third parties without prior consent of the entrant.
PART A: INSURANCE UNDERWRITERS CATEGORY
This award is given in recognition of leadership in the industry ‘s long term business; through innovation in product offerings, thought leadership, financial soundness, enhancing stability through adoption of strong risk management policies as well as good corporate governance.
Who qualifies to enter:
All life insurance underwriters.
This award is given in recognition of leadership in the industry’s short-term business:
through innovation in product offerings, thought leadership, financial soundness, enhancing stability through adoption of strong risk management policies as well as good corporate governance.
Who qualifies to enter:
All general insurance underwriters.
Technology is dramatically changing how insurance companies interact with their customers. From premium payments to claims settlement, to internet, mobile and digital transaction services. This award recognizes companies that have greatly benefited from the technology that they have deployed.
Who qualifies to enter:
All insurance underwriters, Insurance Brokers, Insurance Agencies.
Entry is open to all products in the insurance sector that entrants feel are the most innovative. The judges will be looking for breakthrough products developed through cutting edge design, research and development that has redefined the market by improving usability, access and value to the customer.
Who qualifies to enter:
All insurance companies licensed and regulated by IRA.
Insurance is a cover against risk. Risk management is therefore a very critical undertaking for any insurance company. This award recognizes the company demonstrates that it’s risk management measures have concretely monitored, minimized and controlled the impact of uncertainties in its business.
Who qualifies to enter:
All Insurance underwriters
The easy and timely settlement of a valid claim is the most important function of every insurance company. This award recognizes the life underwriter that has put in place an efficient claims settlement process and has demonstrated its ability to settle claims promptly.
Who qualifies to enter:
All licensed Life Insurance underwriters
Efficient and timely settlement of valid claims is the most important function of every insurance company. This award recognizes the general underwriter that has put in place an efficient claims settlement process and has demonstrated its ability to settle claims promptly.
Who qualifies to enter?
All licensed General Insurance underwriters
Large claims do happen. The impact of such claims on the financial standing of an underwriter can be devastating if proper risk management measures are not in place. This award recognizes the underwriter that has promptly settled a significant loss.
Who qualifies to enter?
All licensed Life and General Insurance underwriters, loss adjusters and all firms engaged in responding to major losses.
Fraud has become prevalent in the insurance sector especially with the increased adoption of technology. Underwriters must therefore put in place robust fraud detection and prevention measures to avoid making losses. How has this been exemplified in your company
Who qualifies to enter:
All licensed Life and General Insurance underwriters
Fraud is becoming prevalent in the insurance sector especially with the increased adoption of technology. It is incumbent upon players in the insurance industry other than underwriters to also put in place robust fraud detection and prevention measures to avoid making losses. How has this been exemplified in your company
Who qualifies to enter:
Brokers, loss assessors and adjusters, investigators and all firms engaged loss assessment.
Medical underwriting is steadily becoming an important class of insurance in the Kenyan market. This award recognizes the company that offers the most robust and efficient group medical cover(s) profitably.
Who qualifies to enter:
Specialized medical underwriters as well as other underwriters that offer group medical insurance as a product
Medical underwriting is steadily becoming an important class of insurance in the Kenyan market. This award recognizes the company that offers the most robust and efficient personal medical cover(s) profitably.
Who qualifies to enter:
Specialized medical underwriters as well as other underwriters that offer personal medical insurance as a product.
This award recognizes the company that offers the most robust and efficient Public Service Vehicle (PSV) cover(s) profitably.
Who qualifies to enter:
Insurance Companies involved in the underwriting of the PSV insurance.
This category looks at the overall customer experience with their life underwriter. A Customer satisfaction survey commissioned by Think Business and conducted by Infotrak, amongst other information derived from entry document will be used to determine the winners.
Who qualifies to enter:
Insurance Companies involved in the underwriting of the Life business.
The category looks at the overall customer experience with their general underwriter. A Customer satisfaction survey commissioned by Think Business and conducted by Infotrak, amongst other information derived from entry document will be used to determine the winners.
Who qualifies to enter:
Insurance Companies involved in the underwriting of the general business.
The judges typically assess the product that was presented and delivered most effectively to the market. The winning entry will be that product that offers greater value to the customer based on the core elements of marketing – the insurance pricing model, distribution network, promotional strategy and value addition of the product. Through the Customer Satisfaction survey (conducted by an independent research firm), insurance customers are also asked to state what insurance products were effectively sold to them. The team of expert judges then pick the winners from a weighted score, determined also by the volume of actual business attracted by the marketing process.
Who qualifies to enter:
All firms in the Insurance Industry offering products to the market.
This award recognizes the insurance company that can best demonstrate excellence in the delivery and development of knowledge or skills for its staff.
Who qualifies to enter:
All firms in the Insurance Industry.
This award seeks to recognize firms in the insurance sector, who incorporate social responsibility (CSR) and sustainability holistically in their business. These companies are seen as trust-worthy businesses that genuinely care for employees, customers and the communities they operate in.
Who qualifies to enter:
All firms in the Insurance Industry.
PART B: INSURANCE BROKERS CATEGORY
This award is given in recognition of an outstanding insurance broker, leading in innovation, financially stable and growing, with excellent customer service as well as contributing positively to the overall growth of the industry.
Who qualifies to enter:
All Insurance Brokers.
This award is given in recognition of an insurance broker, leading in the corporate line business with regard to product and service offering, innovation, and excellent customer service.
Who qualifies to enter:
Insurance brokers, agents and independent intermediaries.
Underwriters are encouraged to nominate
This award is given in recognition of an insurance broker, leading in the Life business with regard to product and service offering, innovation, and excellent customer service.
Who qualifies to enter:
Insurance brokers, agents and independent intermediaries.
Underwriters are encouraged to nominate
The award is given in recognition of an insurance broker, leading in the corporate line business with regard to product and service offering, innovation, and excellent customer service.
Who qualifies to enter:
Insurance brokers, agents and independent intermediaries.
Underwriters are encouraged to nominate
Technology is dramatically changing how insurance companies interact with their customers. From premium payments to claims settlement, to internet, mobile and digital transaction services. This award recognizes companies that have greatly benefited from the technology that they have deployed.
Who qualifies to enter:
All Insurance Brokers
The category looks at the overall customer experience with their life underwriter. A Customer satisfaction survey commissioned by Think Business and conducted by Infotrak, amongst other information derived from entry document will be used to determine the winners.
Who qualifies to enter:
All Insurance Brokers
The award is given in recognition of an insurance broker, leading in the personal line business with regard to product and service offering, innovation, and excellent customer service.
Who qualifies to enter:
Open to all Insurance brokers, agents and independent intermediaries. Underwriters are encouraged to nominate
PART C: INDIVIDUAL RECOGNITION CATEGORY
This category aims at show casing tomorrow’s pacesetters in the Kenyan insurance industry. The entrant should be below 35 years and working in the insurance sector. The entrant should have shown the ability to generate new ideas, drive innovation and sustainable growth. Through his or her deeds (actions), the individual should have positively changed the fortunes his/ her institution to the benefit of customers, colleagues, counterparties, communities and the sector. Nominations may be submitted by the employing institution, supervisor/manager or any other person other than the nominee.
This award is given to the individual who has shown leadership, creativity, and effectiveness in enhancing his/her organization’s risk management and/or contributed to the promotion of risk management. The company the individual works for must support the nominations.
This award shall be won by a chief executive of an underwriter in General or Life, deemed by the judges to have made the greatest contribution in the growth and sustainability of their company’s business in 2018.
This award is given to and individual who has spent at least 20 years in the insurance industry and has made outstanding and lasting contribution to the growth, development and sustainability of the sector.
Institution are encouraged to nominate an active, retired or posthumous individual to be considered for the lifetime achievement award.
Submissions must be backed by evidence of the impact the individual’s contribution has had on the growth of the insurance industry in general.
Nominations may be submitted by insurance sector CEOs or key industry leaders. Self-nominations are also accepted.
PART D: BANCASSURANCE INTERMEDIARIES CATEGORY
This award is given in recognition of an outstanding bancassurance intermediary, leading in innovation, financially stable and growing, with excellent customer service as well as contributing positively to the overall growth of the industry.
Who qualifies to enter:
All bancassurance intermediaries licensed by the IRA
Technology is dramatically changing how insurance companies interact with their customers. From premium payments to claims settlement, to internet, mobile and digital transaction services. This award recognizes bancassurance intermediary that have greatly benefited from the technology that they have deployed.
Who qualifies to enter:
All bancassurance intermediaries licensed by the IRA
The category looks at the overall customer experience with their non-life and non-embedded products. A Customer satisfaction survey commissioned by Think Business and conducted by Infotrak, amongst other information derived from entry document will be used to determine the winners.
Who qualifies to enter:
All bancassurance intermediaries licensed by the IRA
The award is given in recognition of a bancassurance intermediary, leading in the non-life and non-embedded business with regard to product and service offering, innovation, growth in premiums collected and excellent customer service.
Who qualifies to enter:
All bancassurance intermediaries licensed by the IRA
Underwriters are encouraged to nominate
This award is given in recognition of a bancassurance intermediary, leading in the Life business with regard to product and service offering, innovation, and excellent customer service.
Who qualifies to enter:
All bancassurance intermediaries licensed by the IRA.
Underwriters are encouraged to nominate
PART E: RE-INSURANCE CATEGORIES
This award is given in recognition of leadership in the industry ‘s long term business; through innovation in product offerings, thought leadership, financial soundness, enhancing stability through adoption of strong risk management policies as well as good corporate governance.
Who qualifies to enter:
All life Re-insurance underwriters.
This award is given in recognition of leadership in the industry’s short-term business:
through innovation in product offerings, thought leadership, financial soundness, enhancing stability through adoption of strong risk management policies as well as good corporate governance.
Who qualifies to enter:
All general Re-insurance underwriters.
Technology is dramatically changing how Re-insurance companies interact with their customers. From premium payments to claims settlement, to internet, mobile and digital transaction services. This award recognizes companies that have greatly benefited from the technology that they have deployed.
Who qualifies to enter:
All Re-insurers
Entry is open to all products in the Re-insurance sector that entrants feel are the most innovative. The judges will be looking for breakthrough products developed through cutting edge design, research and development that has redefined the market by improving usability, access and value to the customer.
Who qualifies to enter:
All Re-insurance companies licensed and regulated by IRA.
Re-insurance is a cover against risk. Risk management is therefore a very critical undertaking for any Re-insurance company. This award recognizes the company demonstrates that it’s risk management measures have concretely monitored, minimized and controlled the impact of uncertainties in its business.
Who qualifies to enter:
All Re-insurers
The easy and timely settlement of a valid claim is the most important function of every Re-insurance company. This award recognizes the life underwriter that has put in place an efficient claims settlement process and has demonstrated its ability to settle claims promptly.
Who qualifies to enter:
All Re-insurers
Efficient and timely settlement of valid claims is the most important function of every Re-insurance company. This award recognizes the general underwriter that has put in place an efficient claims settlement process and has demonstrated its ability to settle claims promptly.
Who qualifies to enter?
All Re-insurers
Large claims do happen. The impact of such claims on the financial standing of an underwriter can be devastating if proper risk management measures are not in place. This award recognizes the underwriter that has promptly settled a significant loss.
Who qualifies to enter?
All Re-insurers
Fraud has become prevalent in the Re-insurance sector especially with the increased adoption of technology. Underwriters must therefore put in place robust fraud detection and prevention measures to avoid making losses. How has this been exemplified in your company
Who qualifies to enter:
All Re-insurers
Medical underwriting is steadily becoming an important class of Re-insurance in the Kenyan market. This award recognizes the company that offers the most robust and efficient group medical cover(s) profitably.
Who qualifies to enter:
All Re-insurers
This award recognizes the company that offers the most robust and efficient Public Service Vehicle (PSV) cover(s) profitably.
Who qualifies to enter:
All Re-insurers
This category looks at the overall customer experience with their life underwriter. A Customer satisfaction survey commissioned by Think Business and conducted by Infotrak, amongst other information derived from entry document will be used to determine the winners.
Who qualifies to enter:
Re-insurers involved in the Life business.
The category looks at the overall customer experience with their general underwriter. A Customer satisfaction survey commissioned by Think Business and conducted by Infotrak, amongst other information derived from entry document will be used to determine the winners.
Who qualifies to enter:
All Re-insurers
involved in general business.
This award seeks to recognize firms in the Re-insurance sector, who incorporate social responsibility (CSR) and sustainability holistically in their business. These companies are seen as trust-worthy businesses that genuinely care for employees, customers and the communities they operate in.
Who qualifies to enter:
All firms in the Re-insurance Industry.
Dinner Reservation
For further information call Carolyne Tel: +254 706 035 510 +254 704 096 289 / +254 0722 335 421 or e-mail her on carolynebhoke@thinkbusinessafrica.com
Event Location
The 18th annual edition of the Insurance Awards 2023 is slated for Friday, 19th May, 2023 at the Nairobi Serena Hotel, starting at 6.30 pm.
Contact Info
Think Business Limited,
4th Flr. Delta Corner Annex, Wayiaki Way,
Westlands, Nairobi
P.O. Box 12800 – 00100 GPO, Nairobi
Website: www.thinkbusinessafrica.com
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