EMERGING OPPORTUNITIES: SEIZING THE MOMENT
The Think Business Investment Awards returns after a 5-year hiatus.
Welcome to the 11th Edition of the celebration of Kenya’s Investment Sector’s achievements.
The Investment Awards 2024 Gala will be held on Tuesday, 10nd December, 2024 starting at 6.30 pm at the JW Marriott Hotel, Nairobi.
The Investment Awards was launched in 2008 and held consistently every year until 2018 when we took a break.
The awards confer merit on the companies who are leading the dynamic and fast-paced changes in the securities exchange and investments sectors in Kenya.
The awards judging process involves a research process that examines key areas of performance including: Corporate governance, Financial Soundness, Product and systems innovation and most importantly customer services.
For this 11th edition, we have put effort more effort in improving the awards category and judging criteria to make them more inclusive and relevant for the ever-changing business environment. Following discussions with key industry stakeholders, the awards’ main focus will not only be on the companies that remain financially sound while ensuring good returns to shareholders, but also those that contribute greatly to the growth of the sector by embracing best practice in corporate governance, innovation, education and engaging in sustainable growth.
A panel of expert judges will decide the winners in each category. The Judges’ decisions will be based on entries as presented by companies coupled with financial information – statutorily published by the companies. Entries may not be required in categories where only financial information is applicable for judging. Judges may contact companies directly for any information they might need to help them in the judging process.
PKF East Africa, our Judging process partner, will oversee and audit the entire judging process including the selection of judges, financial data and market information presented as well as the determination of winners based on set criteria.
All entries must be submitted on the new ThinkAwards platform accessible through the Think Business Investment Awards portal https://uat.craftsilicon.com/InvestmentAwards/
Eligibility
• Entries are open to all licensed companies in the Capital Markets, Collective Investment Vehicles, Fund managers and Pension Funds and all other professionals in the industry licensed and regulated by the Capital Markets Authority (CMA) and Retirement Benefits Authority (RBA).
• Entries must be for projects that have been implemented within the previous 12 to 18 months.
• Each award category has its eligibility criteria. Kindly refer to it to ensure you are entering in the most appropriate categories.
- Where entry is submitted jointly by one or more parties, the judges have the authority to assess and determine if the entry was really a joint effort.
- The judges reserve the right to amend the judging criteria, change the maximum allocated score for any criteria, accept or reject entries.
Submission Guidelines
- Log on to our ThinkAwards portal https://uat.craftsilicon.com/InvestmentAwards/ . You need accreditation to login.
- To get accreditation, share with use at least 2 emails addresses and telephone numbers of the people you want to put in your entries.
- Make sure it is clear what individual, department, company (or companies in the case of joint entries), you are entering. You can enter more than one project or program in a category.
- Fill in the entry slots with the required information. Note that each slot has a specified number of characters that should not be exceeded.
- Each category has its own judging criteria and parameters. Ensure that you provide information for each parameter as indicated in each award category.
- Pay attention to the maximum score awarded for each parameter.
- Attach relevant reference/supporting details including photos, videos as well as customer testimonials where applicable and available.
- If measurable targets were achieved, it is important to provide that evidence, i.e what the target was, if and how it was achieved.
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.
AWARD CATEGORIES AND JUDGING CRITERIA
PART A: INVESTMENT UNDERWRITERS CATEGORY
1. Life Insurer of the year
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 Investment underwriters.
The judges will look at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 30%) | 30% |
| Judging Criteria_C. Other criteria | Max. Score |
| Credit rating from a globally recognized rating agency | 15% |
| Innovation in product offering | 10% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 10% |
| Technology application | 8% |
| Sustainable Corporate Social Responsibility | 7% |
| Sub -total | 50% |
| Total | 100% |
PART A: CAPITAL MARKETS
1. The Best Quoted Company of the Year (In the Main Segment)
Who qualifies to enter:
All companies listed on the Nairobi Securities Exchange.
Judgeswillbelooking at:
| A. Corporate Governance Parameters | Max.Score |
| Independence: What is the ratio of executive directors to non-executive directors in your board? | 5% |
| What is the percentage of shareholding by directors to the total shareholding? | 5% |
| Is your company secretary also a member of the board of directors? | 4% |
| Age diversity: What is the average age of board of directors? | 4% |
| Academic qualifications: How many trustees are graduates or have professional qualifications. | 4% |
| Professional experience: What is the average working experience of the board of directors? | 3% |
| Professional diversity: How many different professionals are on the board? | 3% |
| Gender: What is the ratio of Female: Male directors | 2% |
| Appointments: Do you have transparent and documented procedures for appointment of new directors (e.g nomination committee)? | 5% |
| Do you have an induction framework for new directors? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 4% |
| Do you have a Risk Managementcommittee | 4% |
| Do you have a Finance and Investmentcommittee | 4% |
| Do you have a Governancecommittee | 4% |
| How many other board committees relevant or specific to your organization do you have? | 4% |
| Sub total (Pro-rated to 50% of the total) | 100% |
| B. Financial and Performance Parameters | Max.Score |
| Earnings Per share | 15% |
| Price to Earnings Ratio | 15% |
| Return on Equity | 15% |
| Return onAssets | 10% |
| Profitability as a percentage of revenues | 10% |
| DividendYield | 10% |
| Growth in volumes of shares trade | 10% |
| MajorAchievements in 2014/2015 | 15% |
| Sub total (Pro-rated to 50% of the total) | 100% |
| A+BTotal | 100% |
2. Best Performing Company in the AIM Segment
Whoqualifiestoenter:
Companies listed on theAlternative Investments Market Segment (AIMS).
| A. Corporate Governance Parameters | Max.Score |
| Independence: What is the ratio of executive directors to non-executive directors in your board? | 5% |
| What is the percentage of shareholding by directors to the total shareholding? | 5% |
| Is your company secretary also a member of the board of directors? | 4% |
| Age diversity: What is the average age of board of directors? | 4% |
| Academic qualifications: How many trustees are graduates or have professional qualifications. | 4% |
| Professional experience: What is the average working experience of the board of directors? | 3% |
| Professional diversity: How many different professionals are on the board? | 3% |
| Gender: What is the ratio of Female: Male directors | 2% |
| Appointments: Do you have transparent and documented procedures for appointment of new directors (e.g nomination committee)? | 5% |
| Do you have an induction framework for new directors? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 4% |
| Do you have a Risk Managementcommittee | 4% |
| Do you have a Finance and Investmentcommittee | 4% |
| Do you have a Governancecommittee | 4% |
| How many other board committees relevant or specific to your organization do you have? | 4% |
| Sub total (Pro-rated to 50% of the total) | 100% |
| B. Financial and Performance Parameters | Max.Score |
| Earnings Per share | 15% |
| Price to Earnings Ratio | 15% |
| Return on Equity | 15% |
| Return onAssets | 10% |
| Profitability as a percentage of revenues | 10% |
| DividendYield | 10% |
| Growth in volumes of shares trade | 10% |
| MajorAchievements in 2014/2015 | 15% |
| Sub total (Pro-rated to 50% of the total) | 100% |
| A+BTotal | 100% |
3. Investment Bank of theYear
Whoqualifiestoenter;
This category is open to banks and investment banks only.
Judgeswillbelooking at:
| A. Corporate Governance Parameters | Max.Score |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 5% |
| Professional experience – What is the average working experience of the board members? | 5% |
| Professional diversity– How many different professionals are on the board? | 5% |
| Gender – What is the ratio of Female: Male board members | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 5% |
| Do you have a Risk Managementcommittee | 5% |
| Do you have a Finance and Investmentcommittee | 5% |
| Do you have a Governancecommittee | 5% |
| How many other board committees relevant or specific to your organization do you have? | 5% |
| Sub total (Pro-rated to 30% of the total) | 100% |
| B. Other Parameters | Max.Score |
| Merger and Acquisition Deals, Private or public placement in Kenya and other capital market transactions including syndicated loans. | 25% |
| The nature, complexity, size and number of deals undertaken | 25% |
| Product innovativeness i.e. technological | 25% |
| Research products, their quality and level of dissemination | 25% |
| Sub Total (Pro-rated to 70% of the total) | 100% |
| A+B TOTAL | 100% |
5. Stock Broker of theYear
Whoqualifiestoenter;
This category is open to all Stock Brokers in Kenya
Judgeswillbelooking at:
| A. Corporate Governance Parameters | Max.Score |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 5% |
| Professional experience – What is the average working experience of the board members? | 5% |
| Professional diversity– How many different professionals are on the board? | 5% |
| Gender – What is the ratio of Female: Male board members | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 5% |
| Do you have a Risk Managementcommittee | 5% |
| Do you have a Finance and Investmentcommittee | 5% |
| Do you have a Governancecommittee | 5% |
| How many other board committees relevant or specific to your organization do you have? | 5% |
| Sub total (Pro-rated to 30% of the total) | 100% |
| B. Other Parameters | Max.Score |
| Volumes traded | 15% |
| Ability to trade across regional markets and in multiple currencies | 15% |
| Research products, their quality and level of dissemination | 15% |
| Product innovativeness i.e. technological | 15% |
| Volumes and values of shares traded | 10% |
| Lead in IPOs | 10% |
| Efficiency of execution and Back Office best practice | 10% |
| ONLINE accessibility , Orders execution speed , Client feedback mechanisms in place, | 10% |
| Sub –Total (Pro-rated to 70% of the total) | 100% |
| A+B TOTAL | 100% |
6. ResearchTeamoftheYear
Whoqualifiestoenter;
Specialistequitiesresearchhouses,stockbrokers,investmentbanks,fundmanagers,andresearch divisions within Banks.
Judgeswillbelooking at:
| Parameters | Max.Score |
| Number of listed companies covered | 25% |
| Number of sectors covered | 25% |
| The size of the research team | 5% |
| Research products, their quality, timeliness and level of dissemination | 25% |
| Research ethos | 20% |
| Total | 100% |
7. The IPO of the Year
Whocanenter:
This category is open to companies listed on any Nairobi Securities Exchange within the last 18months.
| Parameters | Max.Score |
| Total size of stock floated | 20% |
| Subscription Success | 10% |
| Demonstration of proper planning and execution with all partners and advisors involved | 20% |
| Purpose of the funds drive vis-a-vee needs | 10% |
| Price gain since IPO | 20% |
| Percentage of stock floated | 20% |
| Total | 100% |
8. Bond Deal of the Year
Whoqualifiestoenter:
Bond issuers.
Judges will be looking at:
| Parameters | Max.Score |
| Total size of issue | 20% |
| Subscription Success | 10% |
| Demonstration of proper planning and execution with all partners and advisors involved | 20% |
| Purpose of the funds drive vis-a-vee needs | 10% |
| Percentage of stock floated | 20% |
| Total | 100% |
9. ChairmanoftheYear
Whoqualifiestoenter:
This category is open to Chairmen of all listed companies.
Judgeswillbelooking at:
Based on peer assessment from a shortlist of chairmen of the top ten companies in Quoted
Company of the Year category.
10. Chief Executive of the Year
Whoqualifiestoenter:
This category is open to Chief Executive Officers of all listed companies.
Winners will be arrived at:
Based on Judges Assessment from a shortlist of CEOs of the top ten companies in Quoted
Company of the Year category.
11. Bes tLead Transaction Advisor
Whoqualifiestoenter:
All transaction advisors in the East African Market who have been engaged as lead transaction advisors for IPOs, Rights Issues, Bond Issues and Delisting.
Judgeswillbelooking at:
| Parameters | Max.Score |
| Value of transaction undertaken. | 40% |
| Level of subscription to the transaction. | 30% |
| Post transaction evaluation of performance and success | 30% |
| Total | 100% |
12. Best Legal Transaction Advisor
Whoqualifiestoenter:
All legal advisors to various transactions in the East African Market.These transactions include IPOs, rights issues and bond Issues in the last 18 months.
Judgeswillbelooking at:
| Parameters | Max.Score |
| Value of transaction undertaken. | 40% |
| Level of subscription to the transaction. | 30% |
| Post transaction evaluation of performance and success | 30% |
| Total | 100% |
13. BestTransactionAdvisor– PR &Marketing
Whoqualifiestoenter:
AllPRandmarketingadvisorstovarioustransactionsintheKenyanmarket.These transactions include IPOs, rights issues and bond Issues in the last 18 months
Judgeswillbelooking at:
| Parameters | Max.Score |
| Value of transaction undertaken. | 40% |
| Level of subscription to the transaction. | 30% |
| Post transaction evaluation of performance and success | 30% |
| Total | 100% |
14. CustodianoftheYear
Whoqualifiestoenter:
All Commercial Banks licensed byThe Capital MarketsAuthority to operate as Custodians.
| Parameters | Max.Score |
| Value and yearly growth of the funds under custodianship. | 20% |
| Number of CustodyAccounts. | 20% |
| Client Service | 30% |
| Settlement Policies in place and turn around time | 30% |
| Total | 100% |
15. EquitiesDealeroftheYear
Whoqualifiestoenter:
ThiscategoryisopentocertifiedATSDealerswithover2years’cumulativeexperienceinequities
dealing.
Judgeswillbelooking at:
| Parameters | Max.Score |
| Trading Volumes over the last 12 months | 20% |
| Demonstration of good team work in dealing and their role in the team | 20% |
| Demonstration of good working and healthy relationships with institutional Investors | 30% |
| Demonstration of satisfaction from institutional Investors | 20% |
| Trading ethics according to NSE trading guidelines apply. | 10% |
| Total | 100% |
16. BondsDealeroftheYear
Whoqualifiestoenter:
This category is open to certifiedATSDealers with over 2 years’cumulative experience in fixed income
securities dealing.
Judgeswillbelooking at:
| Parameters | Max.Score |
| Trading Volumes over the last 12 months | 20% |
| Demonstration of good team work in dealing and their role in the team | 20% |
| Demonstration of good working and healthy relationships with institutional Investors | 30% |
| Demonstration of satisfaction from institutional Investors | 20% |
| Trading ethics according to NSE trading guidelines apply. | 10% |
| Total | 100% |
17. TrusteeoftheYear
Whoqualifiestoenter:
ThiscategoryisopentoTrusteesoperatingwithintheCapitalMarkets.They include PensionFunds
Trustees, Unit Fund Trustees etc
Judgeswillbelooking at:
| Parameters | Max.Score |
| Number of Trust Accounts Held | 20% |
| Value of Trust Accounts Held | 20% |
| Innovation in Client Service | 20% |
| Turnaround in service Requirements | 30% |
| Adoption of Technology | 10% |
| Total | 100% |
18. Sustainable Corporate Social Responsibility
Whoqualifiestoenter:
All listed companies Stockbrokers, and Investments Banks
| Parameters | Max. Score |
| Demonstrated existence and execution of an external corporate social responsibility program. | 25% |
| The relevance of social responsibility program to the community. | 35% |
| Evidence that the program has had positive results and contributed to the growth and betterment of the community. | 20% |
| Sustainability of the program | 20% |
| Total | 100% |
19. Customer Service Award
Whoqualifiestoenter:
All listed companies Stockbrokers, and Investments Banks
| Parameters | Max. Score |
| A technical financial assessment of the performance of the business using various key financial ratios. | 15% |
| The innovative nature of the products on offer | 15% |
| Evidence of a clear customer orientated approach underpinned by research into new risks or problems, | 25% |
| Response to customer needs and enhanced quality of service. | 30% |
| Overall strategy for future growth and development | 15% |
| Total | 100% |
20. Most innovative Company 2015/2016
Who qualifies to enter:
All listed companies Stockbrokers, and Investments Banks
Entry is open to all products and services for all stock brokers and investment banks. The judges will be looking for breakthrough products and services developed through cutting edge design, research and development that have redefined the market by improving usability, access and value to the customer.
| Parameters | Max.Score |
| New ideas, technology, services and products to customers | 40% |
| Usability/access | 30% |
| Value to customers | 30% |
| Total | 100% |
Note: For any feedback regarding the awards categories and judging criteria,contact judges@thinkbusiness.co.ke or visit our website www.thinkbusinessafrica.com
PART A: COLLECTIVE INVESTMENT VEHICLES
1. Unit Trust of the Year
Who qualifies to enter:
This category is open to all Registered Unit Trusts.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 5% |
| Professional experience – What is the average working experience of the board members? | 5% |
| Professional diversity– How many different professionals are on the board? | 5% |
| Gender – What is the ratio of Female: Male board members | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 5% |
| Do you have a Risk Management committee | 5% |
| Do you have a Finance and Investment committee | 5% |
| Do you have a Governance committee | 5% |
| How many other board committees relevant or specific to your organization do you have? | 5% |
| Sub total (Pro-rated to 30% of the total) | 100% |
| B. Other Parameters | Max. Score |
| Performance of each Trust over the last 12 months. | 10% |
| Level of production and persistency in all production categories determined on the net flows (production less redemption) | 5% |
| Innovation in technology, client service and communication to clients | 10% |
| Value of assets under management. | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Ease of investing / withdrawing from Trust. | 10% |
| Average Return on Investment on each Trust held. | 10% |
| Overall growth of each Trust over the last 12 months (Clear demonstration of internal Vs external growth) 9. Overall growth of each Trust over the last 12 months (Clear demonstration of internal vs external growth) 9. Overall growth of each Trust over the last 12 months (Clear demonstration of internal vs external growth) | 10% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
2. Best Fund in Absolute Returns
Who qualifies to enter:
This category is open to all Registered Unit Trusts.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 5% |
| Professional experience – What is the average working experience of the board members? | 5% |
| Professional diversity– How many different professionals are on the board? | 5% |
| Gender – What is the ratio of Female: Male board members | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 5% |
| Do you have a Risk Management committee | 5% |
| Do you have a Finance and Investment committee | 5% |
| Do you have a Governance committee | 5% |
| How many other board committees relevant or specific to your organization do you have? | 5% |
| Sub total (Pro-rated to 30% of the total) | 100% |
| B. Other Parameters | Max. Score |
| Performance of each Trust over the last 12 months. | 10% |
| Value of assets under management. | 10% |
| Average Return on Investment | 50% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
3. Best Performing Equity Fund
Who qualifies to enter:
This category is open to all Registered Equity Funds.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 5% |
| Professional experience – What is the average working experience of the board members? | 5% |
| Professional diversity– How many different professionals are on the board? | 5% |
| Gender – What is the ratio of Female: Male board members | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 5% |
| Do you have a Risk Management committee | 5% |
| Do you have a Finance and Investment committee | 5% |
| Do you have a Governance committee | 5% |
| How many other board committees relevant or specific to your organization do you have? | 5% |
| Sub total (Pro-rated to 30% of the total) | 100% |
| B. Other Parameters | Max. Score |
| Performance of each Trust over the last 12 months. | 10% |
| Overall growth of each Trust over the last 12 months (Clear demonstration of internal Vs external growth) | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Value of assets under management. | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Ease of investing / withdrawing from Trust. | 10% |
| Average Return on Investment on each Trust held. | 10% |
| Level of production and persistency in all production categories determined on the net flows (production less redemption) | 5% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
4. Best Performing Money Market Fund
Who qualifies to enter;
This category is open to all Registered Money Market Funds.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 5% |
| Professional experience – What is the average working experience of the board members? | 5% |
| Professional diversity– How many different professionals are on the board? | 5% |
| Gender – What is the ratio of Female: Male board members | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 5% |
| Do you have a Risk Management committee | 5% |
| Do you have a Finance and Investment committee | 5% |
| Do you have a Governance committee | 5% |
| How many other board committees relevant or specific to your organization do you have? | 5% |
| Sub total (Pro-rated to 30% of the total) | 100% |
| B. Other Parameters | Max. Score |
| Performance of each Trust over the last 12 months. | 10% |
| Overall growth of each Trust over the last 12 months (Clear demonstration of internal Vs external growth) | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Value of assets under management. | 10% |
| Allocation Criteria and Spread of Assets | 15% |
| Ease of investing / withdrawing from Trust. | 10% |
| Average Return on Investment on each Trust held. | 10% |
| Level of production and persistency in all production categories determined on the net flows (production less redemption) | 15% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
5. Best Performing Balanced Fund
Who qualifies to enter;
This category is open to all Registered Balanced Funds.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 5% |
| Professional experience – What is the average working experience of the board members? | 5% |
| Professional diversity– How many different professionals are on the board? | 5% |
| Gender – What is the ratio of Female: Male board members | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 5% |
| Do you have a Risk Management committee | 5% |
| Do you have a Finance and Investment committee | 5% |
| Do you have a Governance committee | 5% |
| How many other board committees relevant or specific to your organization do you have? | 5% |
| Sub total (Pro-rated to 30% of the total) | 100% |
| B. Other Parameters | Max. Score |
| Performance of each Trust over the last 12 months. | 10% |
| Overall growth of each Trust over the last 12 months (Clear demonstration of internal Vs external growth) | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Value of assets under management. | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Ease of investing / withdrawing from Trust. | 10% |
| Average Return on Investment on each Trust held. | 10% |
| Level of production and persistency in all production categories determined on the net flows (production less redemption) | 5% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
6. Best Performing Bond Fund
Who qualifies to enter;
This category is open to all Registered Bond Funds.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 5% |
| Professional experience – What is the average working experience of the board members? | 5% |
| Professional diversity– How many different professionals are on the board? | 5% |
| Gender – What is the ratio of Female: Male board members | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 5% |
| Do you have a Risk Management committee | 5% |
| Do you have a Finance and Investment committee | 5% |
| Do you have a Governance committee | 5% |
| How many other board committees relevant or specific to your organization do you have? | 5% |
| Sub total (Pro-rated to 30% of the total) | 100% |
| B. Other Parameters | Max. Score |
| Performance of each Trust over the last 12 months. | 10% |
| Overall growth of each Trust over the last 12 months (Clear demonstration of internal Vs external growth) | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Value of assets under management. | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Ease of investing / withdrawing from Trust. | 10% |
| Average Return on Investment on each Trust held. | 10% |
| Level of production and persistency in all production categories determined on the net flows (production less redemption) | 5% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
7. Best Performing Other Fund
Who can enter:
This category is open to all registered unclassified Funds. E.g. Offshore Funds, Sharia Funds.
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 5% |
| Professional experience – What is the average working experience of the board members? | 5% |
| Professional diversity– How many different professionals are on the board? | 5% |
| Gender – What is the ratio of Female: Male board members | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 5% |
| Do you have a Risk Management committee | 5% |
| Do you have a Finance and Investment committee | 5% |
| Do you have a Governance committee | 5% |
| How many other board committees relevant or specific to your organization do you have? | 5% |
| Sub total (Pro-rated to 30% of the total) | 100% |
| B. Other Parameters | Max. Score |
| Performance of each Trust over the last 12 months. | 10% |
| Overall growth of each Trust over the last 12 months (Clear demonstration of internal Vs external growth) | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Value of assets under management. | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Ease of investing / withdrawing from Trust. | 10% |
| Average Return on Investment on each Trust held. | 10% |
| Level of production and persistency in all production categories determined on the net flows (production less redemption) | 5% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
8. Best Trust in Quality Client Service
Who qualifies to enter:
This category is open to all Registered Unit Trusts.
Judges will be looking at:
| Parameters | Max. Score |
| Growth of the Trust over the last 12 months. | 10% |
| A demonstrated excellent level of customer satisfaction | 10% |
| Proof of the success of the high level of customer satisfaction through a high retention level of customers | 10% |
| Evidence of a clear customer orientated approach | 10% |
| Response to customer needs and enhanced quality of service | 20% |
| Resources invested in Customer Service (Online Statements, Call centers, SMS Platforms etc) | 10% |
| Availability of Personal Financial Advisors and their roles | 10% |
| Redemption Period | 10% |
| Any other measures to enhance client service (Social Media Interaction, Newsletters etc) | 10% |
| Total | 100% |
9.Most Innovative Trust
Who qualifies to enter:
This category is open to all entry is open to all unit trust products that entrants feel are most innovative.
Judges will be looking at:
The judges will be looking for breakthrough products developed through cutting edge design, research
and development that have redefined the market by improving usability, access and value to the customer.
| Parameters | Max. Score |
| Demonstration of Investment in Research | 25% |
| Execution of the Product Idea | 25% |
| Impact of the Innovation to overall growth of the Trust | 50% |
| Total | 100% |
10. Outstanding Industry Contribution- Collective Investment Schemes
Who qualifies to enter:
This category is open to individuals working in the Collective investment Schemes.
This is a special award which will be awarded to an individual considered to have made the greatest contribution to the growth of the Collective investment Schemes Sub Sector.
PART C: FUND MANAGER
1. Fund Manager of the Year: Overall
Who qualifies to enter?
This category is open to all registered Fund Managers, asset managers, pension funds, insurance companies and any other bodies involved in managing assets and institutional investments. Entrants must be licensed by either the Capital Markets Authority or the Retirements Benefits Authority as a Fund Manager.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 4% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 4% |
| Professional experience – What is the average working experience of the board members? | 3% |
| Professional diversity– How many different professionals are on the board? | 3% |
| Gender – What is the ratio of Female: Male board members | 2% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 4% |
| Do you have a Risk Management committee | 4% |
| Do you have a Finance and Investment committee | 4% |
| Do you have a Governance committee | 4% |
| How many other board committees relevant or specific to your organization do you have? | 4% |
| Sub total (Pro-rated to 50% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Average Return on Investment on each Asset Class over the last 5 years y-o-y. | 10% |
| Performance of each Fund over the last 18 months. Composites are required to demonstrate the performance of every discretionary fund managed | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Value of assets under management. | 10% |
| Demonstration of Compliance and Risk Management policies in place | 5% |
| Sub total (Pro-rated to 50% of the total) | 50% |
| TOTAL (A+B) | 100% |
2. Fund Manager of the Year: Pensions
Who qualifies to enter:
This category is open to all registered Fund Managers, asset managers, pension funds, insurance companies and any other bodies involved in managing Pension Funds. Entrants must be licensed by the Retirements Benefits Authority as a Fund Manager.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 4% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 4% |
| Professional experience – What is the average working experience of the board members? | 3% |
| Professional diversity– How many different professionals are on the board? | 3% |
| Gender – What is the ratio of Female: Male board members | 2% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 4% |
| Do you have a Risk Management committee | 4% |
| Do you have a Finance and Investment committee | 4% |
| Do you have a Governance committee | 4% |
| How many other board committees relevant or specific to your organization do you have? | 4% |
| Sub total (Pro-rated to 50% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Average Return on Investment on each Asset Class over the last 5 years y-o-y. | 10% |
| Performance of each Fund over the last 18 months. Composites are required to demonstrate the performance of every discretionary fund managed | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Value of assets under management. | 10% |
| Demonstration of Compliance and Risk Management policies in place | 5% |
| Sub total (Pro-rated to 50% of the total) | 50% |
| A+BTOTAL | 100% |
3. Fund Manager of the Year: Money Market
Who qualifies to enter:
This category is open to Fund Managers, asset managers, pension funds, insurance companies and any other bodies involved in Money Markets.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 4% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 4% |
| Professional experience – What is the average working experience of the board members? | 3% |
| Professional diversity– How many different professionals are on the board? | 3% |
| Gender – What is the ratio of Female: Male board members | 2% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 4% |
| Do you have a Risk Management committee | 4% |
| Do you have a Finance and Investment committee | 4% |
| Do you have a Governance committee | 4% |
| How many other board committees relevant or specific to your organization do you have? | 4% |
| Sub total (Pro-rated to 50% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Average Return on Investment on each Asset Class over the last 5 years y-o-y. | 10% |
| Performance of each Fund over the last 18 months. Composites are required to demonstrate the performance of every discretionary fund managed | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Value of assets under management. | 10% |
| Demonstration of Compliance and Risk Management policies in place | 5% |
| Sub total (Pro-rated to 50% of the total) | 50% |
| TOTAL (A+B) | 100% |
4. Fund Manager of the Year: Equity
Who qualifies to enter;
This category is open to Fund Managers, asset managers, pension funds, insurance companies and any other bodies involved in Equity Markets.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 4% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 4% |
| Professional experience – What is the average working experience of the board members? | 3% |
| Professional diversity– How many different professionals are on the board? | 3% |
| Gender – What is the ratio of Female: Male board members | 2% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 4% |
| Do you have a Risk Management committee | 4% |
| Do you have a Finance and Investment committee | 4% |
| Do you have a Governance committee | 4% |
| How many other board committees relevant or specific to your organization do you have? | 4% |
| Sub total (Pro-rated to 50% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Average Return on Investment on each Asset Class over the last 5 years y-o-y. | 10% |
| Performance of each Fund over the last 18 months. Composites are required to demonstrate the performance of every discretionary fund managed | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Value of assets under management. | 10% |
| Demonstration of Compliance and Risk Management policies in place | 5% |
| Sub total (Pro-rated to 50% of the total) | 50% |
| A+BTOTAL | 100% |
5. Fund Manager of the Year: Fixed Income
Who qualifies to enter;
This category is open to Fund Managers, asset managers, pension funds, insurance companies and any other bodies involved in Bond Market.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 4% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 4% |
| Professional experience – What is the average working experience of the board members? | 3% |
| Professional diversity– How many different professionals are on the board? | 3% |
| Gender – What is the ratio of Female: Male board members | 2% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 4% |
| Do you have a Risk Management committee | 4% |
| Do you have a Finance and Investment committee | 4% |
| Do you have a Governance committee | 4% |
| How many other board committees relevant or specific to your organization do you have? | 4% |
| Sub total (Pro-rated to 50% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Average Return on Investment on each Asset Class over the last 5 years y-o-y. | 10% |
| Performance of each Fund over the last 18 months. Composites are required to demonstrate the performance of every discretionary fund managed | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Value of assets under management. | 10% |
| Demonstration of Compliance and Risk Management policies in place | 5% |
| Sub total (Pro-rated to 50% of the total) | 50% |
| A+BTOTAL | 100% |
6. Fund Manager of the Year: Alternative Investments & Private Equity
Who qualifies to enter;
This category is open to Fund Managers, asset managers, pension funds, insurance companies and any other bodies involved in Private Equity.
Private equity here is refers to medium to long term shareholder capital investment in private companies as opposed to publicly listed companies. Alternative Investments could refer to REITS, hedge funds, commodities and other unclassified asset classes in Kenya.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board members? | 4% |
| Academic qualifications – How many board members are graduates or have professional qualifications. | 4% |
| Professional experience – What is the average working experience of the board members? | 3% |
| Professional diversity– How many different professionals are on the board? | 3% |
| Gender – What is the ratio of Female: Male board members | 2% |
| Appointments Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 5% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development programme? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 5% |
| Is there a term limit for the board of directors? | 5% |
| Do you have an Internal Audit committee | 4% |
| Do you have a Risk Management committee | 4% |
| Do you have a Finance and Investment committee | 4% |
| Do you have a Governance committee | 4% |
| How many other board committees relevant or specific to your organization do you have? | 4% |
| Sub total (Pro-rated to 50% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Average Return on Investment on each Asset Class over the last 5 years y-o-y. | 10% |
| Performance of each Fund over the last 18 months. Composites are required to demonstrate the performance of every discretionary fund managed | 10% |
| Innovation in technology, client service and communication to clients | 10% |
| Allocation Criteria and Spread of Assets | 5% |
| Value of assets under management. | 10% |
| Demonstration of Compliance and Risk Management policies in place | 5% |
| Sub total (Pro-rated to 50% of the total) | 50% |
| A+BTOTAL | 100% |
7. Outstanding Industry Contribution –Fund Management
Who qualifies to enter?
This category is open to executive individuals working in the Fund Management.
This is a special award which will be awarded to an individual considered to have made the greatest contribution to the growth of the Fund Management Sub Sector.
PART A: PENSION FUNDS
1. Individual Pension Scheme of the Year
Who qualifies to enter?
This category is open to all Individual Pension Funds and Retirement Benefits Schemes regulated by the Retirements Benefits Authority.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board of Trustees? | 4% |
| Academic qualifications – How many trustees are graduates or have professional qualifications. | 3% |
| Professional experience – What is the average working experience of the board of Trustees? | 3% |
| Professional diversity– How many different professionals are on the board? | 2% |
| Gender – What is the ratio of Female: Male Trustees | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new trustees (e.g nomination committee)? | 5% |
| Do you have an induction framework for new trustees? | 5% |
| Do you have continuous skills development programme for trustees? | 5% |
| Performance Do you conduct annual perfomance evaluation of trustees, (including the managing trustee and secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of Trustees? | 5% |
| Is your Trust Deedperiodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board of Trustees meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing trustees? | 5% |
| Is there a term limit for the board of Trustees? | 5% |
| Internal Audit | 4% |
| Risk Management | 4% |
| Finance and Investment | 4% |
| Governance | 4% |
| How many other committees specific or relevant to your business do you have? | 4% |
| Sub total (Pro-rated to 30% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Performance of the fund over the last 18 months | 10% |
| Overall growth of the Fund over the last 18 months | 10% |
| Innovation in technology, client service, frequency of communication to clients and complaints handling mechanisms | 10% |
| Value of Funds under management and current membership of the Scheme | 10% |
| Ease of withdrawing from Trust and time taken to payout benefits | 10% |
| Average Return on Investment Y-O-Y on the fund since inception and among various asset Classes | 5% |
| Allocation Criteria and Spread of Assets | 5% |
| Level of production and persistency in all production categories determined on the net flows (production less redemptions) over the last 18 months | 5% |
| Demonstration of Compliance and Risk Management policies in place | 5% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
2. Occupational Scheme of the Year
Who qualifies to enter:
This category is open to all Corporate Pension Funds and Retirement Benefits Schemes regulated by the Retirements Benefits Authority.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board of Trustees? | 4% |
| Academic qualifications – How many trustees are graduates or have professional qualifications. | 3% |
| Professional experience – What is the average working experience of the board of Trustees? | 3% |
| Professional diversity– How many different professionals are on the board? | 2% |
| Gender – What is the ratio of Female: Male Trustees | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new trustees (e.g nomination committee)? | 5% |
| Do you have an induction framework for new trustees? | 5% |
| Do you have continuous skills development programme for trustees? | 5% |
| Performance Do you conduct annual perfomance evaluation of trustees, (including the managing trustee and secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of Trustees? | 5% |
| Is your Trust Deedperiodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board of Trustees meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing trustees? | 5% |
| Is there a term limit for the board of Trustees? | 5% |
| Internal Audit | 4% |
| Risk Management | 4% |
| Finance and Investment | 4% |
| Governance | 4% |
| How many other committees specific or relevant to your business do you have? | 4% |
| Sub total (Pro-rated to 30% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Performance of the fund over the last 18 months | 10% |
| Overall growth of the Fund over the last 18 months | 10% |
| Innovation in technology, client service, frequency of communication to clients and complaints handling mechanisms | 10% |
| Value of Funds under management and current membership of the Scheme | 10% |
| Ease of withdrawing from Trust and time taken to payout benefits | 10% |
| Average Return on Investment Y-O-Y on the fund since inception and among various asset Classes | 5% |
| Allocation Criteria and Spread of Assets | 5% |
| Level of production and persistency in all production categories determined on the net flows (production less redemptions) over the last 18 months | 5% |
| Demonstration of Compliance and Risk Management policies in place | 5% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
3. Public Entity Scheme of the Year
Who qualifies to enter:
This category is open to all Public EntitySchemes including Parastatals and Quasi government institutions.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board of Trustees? | 4% |
| Academic qualifications – How many trustees are graduates or have professional qualifications. | 3% |
| Professional experience – What is the average working experience of the board of Trustees? | 3% |
| Professional diversity– How many different professionals are on the board? | 2% |
| Gender – What is the ratio of Female: Male Trustees | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new trustees (e.g nomination committee)? | 5% |
| Do you have an induction framework for new trustees? | 5% |
| Do you have continuous skills development programme for trustees? | 5% |
| Performance Do you conduct annual perfomance evaluation of trustees, (including the managing trustee and secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of Trustees? | 5% |
| Is your Trust Deedperiodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board of Trustees meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing trustees? | 5% |
| Is there a term limit for the board of Trustees? | 5% |
| Internal Audit | 4% |
| Risk Management | 4% |
| Finance and Investment | 4% |
| Governance | 4% |
| How many other committees specific or relevant to your business do you have? | 4% |
| Sub total (Pro-rated to 30% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Performance of the fund over the last 18 months | 10% |
| Overall growth of the Fund over the last 18 months | 10% |
| Innovation in technology, client service, frequency of communication to clients and complaints handling mechanisms | 10% |
| Value of Funds under management and current membership of the Scheme | 10% |
| Ease of withdrawing from Trust and time taken to payout benefits | 10% |
| Average Return on Investment Y-O-Y on the fund since inception and among various asset Classes | 5% |
| Allocation Criteria and Spread of Assets | 5% |
| Level of production and persistency in all production categories determined on the net flows (production less redemptions) over the last 18 months | 5% |
| Demonstration of Compliance and Risk Management policies in place | 5% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
4. Pension Administrator of the Year
Who qualifies to enter;
This category is open to Pension Funds and Retirement Benefits Schemes regulated by the Retirements
Benefits Authority.
Judges will be looking at:
| A. Corporate Governance Parameters | Max. Score |
| Age diversity What is the average age of board of Trustees? | 4% |
| Academic qualifications – How many trustees are graduates or have professional qualifications. | 3% |
| Professional experience – What is the average working experience of the board of Trustees? | 3% |
| Professional diversity– How many different professionals are on the board? | 2% |
| Gender – What is the ratio of Female: Male Trustees | 5% |
| Appointments Do you have transparent and documented procedures for appointment of new trustees (e.g nomination committee)? | 5% |
| Do you have an induction framework for new trustees? | 5% |
| Do you have continuous skills development programme for trustees? | 5% |
| Performance Do you conduct annual perfomance evaluation of trustees, (including the managing trustee and secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of Trustees? | 5% |
| Is your Trust Deedperiodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with | 5% |
| How many board of Trustees meetings do you have in a year (in 2015)? | 5% |
| Do you have a clear guideline on the removal or exit of an existing trustees? | 5% |
| Is there a term limit for the board of Trustees? | 5% |
| Internal Audit | 4% |
| Risk Management | 4% |
| Finance and Investment | 4% |
| Governance | 4% |
| How many other committees specific or relevant to your business do you have? | 4% |
| Sub total (Pro-rated to 30% of the total) | 86% |
| B. Other Parameters | Max. Score |
| Number of Schemes administered | 20% |
| Number of Individual Members | 20% |
| Evaluation Criteria in place | 10% |
| Evidence of a Quality Customer Orientated approach | 10% |
| Client Turnover over the last 18 months | 10% |
| Sub total (Pro-rated to 70% of the total) | 70% |
| TOTAL (A+B) | 100% |
5. Outstanding Industry Contribution- Pensions
Who qualifies to enter;
This category is open to individuals in the Pension Funds Sub Sector.
This is a special award which will be awarded to an individual considered to have made the greatest contribution to the growth of the Pension Funds Sub Sector.
PART B: INVESTMENT BROKERS CATEGORY
19. Overall Best Investment Broker of the Year
This award is given in recognition of an outstanding Investment 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 Investment Brokers.
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 20%) | 20% |
| Judging Criteria_C. Other criteria | Max. Score |
| Innovation in services rendered to clients, including risk management and value-adds. | 20% |
| Demonstration of adherence to professionalism and transparency in dealing with clients. | 10% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 15% |
| Technology application/use in provision of services to customers | 15% |
| Sub -total | 60% |
| Total | 100% |
20. Medical Broker of the Year
This award is given in recognition of an Investment broker, leading in the corporate line business with regard to product and service offering, innovation, and excellent customer service.
Who qualifies to enter:
Investment brokers, agents and independent intermediaries.
Underwriters are encouraged to nominate
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 20%) | 20% |
| Judging Criteria_C. Other criteria | Max. Score |
| Level of innovation in response to the unique or specialized needs of the medical clients | 20% |
| Demonstration of adherence to professionalism and transparency in dealing with clients. | 10% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 10% |
| The additional range of added-value support services offered to the medical business customers. | 20% |
| Sub -total | 60% |
| Total | 100% |
21. Life Broker of the Year
This award is given in recognition of an Investment broker, leading in the Life business with regard to product and service offering, innovation, and excellent customer service.
Who qualifies to enter:
Investment brokers, agents and independent intermediaries.
Underwriters are encouraged to nominate
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 20%) | 20% |
| Judging Criteria_C. Other criteria | Max. Score |
| Level of innovation in response to the unique or specialized needs of the life clients | 20% |
| Demonstration of adherence to professionalism and transparency in dealing with clients. | 10% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 10% |
| The additional range of added-value support services offered to the life business customers. | 20% |
| Sub -total | 60% |
| Total | 100% |
22. General Broker of the Year
The award is given in recognition of an Investment broker, leading in the corporate line business with regard to product and service offering, innovation, and excellent customer service.
Who qualifies to enter:
Investment brokers, agents and independent intermediaries.
Underwriters are encouraged to nominate
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 20%) | 20% |
| Judging Criteria_C. Other criteria | Max. Score |
| Level of innovation in response to the unique or specialized needs of the general clients | 20% |
| Demonstration of adherence to professionalism and transparency in dealing with clients. | 10% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 10% |
| The additional range of added-value support services offered to the general business customers. | 20% |
| Sub -total | 60% |
| Total | 100% |
23. Best Broker in Technology Application
Technology is dramatically changing how Investment 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 Investment Brokers,
Judges will be looking at:
| Judging Criteria | Max. Score |
| Scalability and integration possibilities of the technology platform | 20% |
| Service offering on the technology platform e.g payments, internet, mobile, digital | 15% |
| Fraud Detection and Prevention measures enhanced in the platform | 15% |
| Turnaround time for premium payments to policy processing and claims settlement. | 20% |
| Demonstration of ease of registration and usage | 10% |
| Real time accessibility to account transactions. | 10% |
| Evidence of success in getting customers to use the platform. | 10% |
| Total | 100% |
24. The Most Customer-centric Broker
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 Investment Brokers
Judges will be looking at:
| Judging Criteria | Max. Score |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 30% |
| Product offering and innovation | 20% |
| Evidence of a clear customer orientated service approach | 20% |
| Proof of the success of the high level of customer satisfaction through a high retention level of customers | 10% |
| Branch distribution/ Agency network in Kenya | 10% |
| Seamless use of technology and digital applications | 10% |
| Total | 100% |
25. Personal Lines Broker of the year
The award is given in recognition of an Investment 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 Investment brokers, agents and independent intermediaries. Underwriters are encouraged to nominate
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 30%) | 20% |
| Judging Criteria_C. Other criteria | Max. Score |
| Level of innovation in response to the unique or specialized needs of the personal clients | 20% |
| Demonstration of adherence to professionalism and transparency in dealing with clients. | 10% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 10% |
| Evidence of personal lines/micro-commercial product and/or service innovation and value-add services to personal clients | 20% |
| Sub -total | 60% |
| Total | 100% |
PART C: INDIVIDUAL RECOGNITION CATEGORY
26. Young Investment Achiever of the year
This category aims at show casing tomorrow’s pacesetters in the Kenyan Investment industry. The entrant should be below 35 years and working in the Investment 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.
27. Corporate Risk Manager of the Year
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.
Judges will be looking at:
| Judging Criteria | Max. Score |
| Personal initiative in Setting or enhancing risk management standards in the organization or industry. | 20% |
| Use of risk management in resolving a key challenge for his organization, with proven results. | 20% |
| Promotion of risk management as a philosophy and business discipline. | 10% |
| Innovation in the area of risk management/ loss control or containment. | 30% |
| In-depth knowledge and understanding of his entity’s risks to the operational or technical level. | 10% |
| Advancing his/her risk management career, through professional activities such as certifications etc. | 10% |
| Total | 100% |
28. Chief Executive Officer of the year
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.
Judges will be looking at:
| Judging Criteria | Max. Score |
| The performance of the underwriter with him/her at the helm. | 50% |
| Underwriter’s systems innovation and diversification through his/her leadership | 20% |
| Demonstration of commitment to corporate governance. | 20% |
| Individual service and contribution to growth of the sector | 10% |
| Total | 100% |
29. Lifetime Achievement Award
This award is given to and individual who has spent at least 20 years in the Investment 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 Investment industry in general.
Nominations may be submitted by Investment sector CEOs or key industry leaders. Self-nominations are also accepted.
PART D: BANCASSURANCE INTERMEDIARIES CATEGORY
30. Overall Best Bancassurance Intermediary
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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 20%) | 20% |
| Judging Criteria_C. Other criteria | Max. Score |
| Innovation in services rendered to clients, including risk management and value-adds. | 15% |
| New Business brought on board except life and embedded covers | 20% |
| Customer experience/satisfaction, process, how often is it done , results of the last evaluation. Business) | 10% |
| Technology application/use in provision of services to customers | 15% |
| Sub -total | 60% |
| Total | 100% |
31. Best bancassurance intermediary in Technology Application
Technology is dramatically changing how Investment 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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Scalability and integration possibilities of the technology platform for bancassurance | 20% |
| Service offering on the technology platform e.g payments, internet, mobile, digital | 15% |
| Fraud Detection and Prevention measures enhanced in the platform | 15% |
| Turnaround time for premium payments to policy processing and claims settlement. | 20% |
| Demonstration of ease of registration and usage | 10% |
| Real time accessibility to account transactions. | 10% |
| Evidence of success in getting customers to use the platform. | 10% |
| Total | 100% |
32. The Most Customer-centric bancassurance intermediary
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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 30% |
| Product offering and innovation | 20% |
| Evidence of a clear customer orientated service approach | 20% |
| Proof of the success of the high level of customer satisfaction through a high retention level of customers | 10% |
| Branch distribution/ Agency network in Kenya | 10% |
| Seamless use of technology and digital applications | 10% |
| Total | 100% |
33. Best bancassurance intermediary in non-life and non-embedded products
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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 20%) | 20% |
| Judging Criteria_C. Other criteria | Max. Score |
| Level of innovation in response to the unique or specialized needs of the general Investment clients. | 10% |
| Amount and growth in premiums collected | 20% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 10% |
| Range of products offered and added-value support services offered to the general business customers. | 20% |
| Sub -total | 60% |
| Total | 100% |
34. Best bancassurance intermediary in life products
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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 20%) | 20% |
| Judging Criteria_C. Other criteria | Max. Score |
| Level of innovation in response to the unique or specialized needs of the life clients | 10% |
| Amount and growth in premiums collected | 20% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 10% |
| Range of products and added-value support services offered to the life business customers. | 20% |
| Sub -total | 60% |
| Total | 100% |
PART A: RE-INVESTMENT CATEGORIES
35. Life Re-Insurer of the year
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-Investment underwriters.
The judges will look at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 30%) | 30% |
| Judging Criteria_C. Other criteria | Max. Score |
| Credit rating from a globally recognized rating agency | 15% |
| Innovation in product offering | 10% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 10% |
| Technology application | 8% |
| Sustainable Corporate Social Responsibility | 7% |
| Sub -total | 50% |
| Total | 100% |
36. General Re-Insurer of the Year
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-Investment underwriters.
The judges will look at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 30%) | 30% |
| Judging Criteria_C. Other criteria | Max. Score |
| Credit rating from a globally recognized rating agency | 15% |
| Innovation in product offering | 10% |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 20% |
| Technology application | 8% |
| Sustainable Corporate Social Responsibility | 7% |
| Sub -total | 50% |
| Total | 100% |
37. Best Re-Investment Company in Technology Application
Technology is dramatically changing how Re-Investment 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
Judges will be looking at:
| Max. Score | |
| Scalability and integration possibilities of the technology platform | 20% |
| Service offering on the technology platform e.g payments, internet, mobile, digital | 15% |
| Fraud Detection and Prevention measures enhanced in the platform | 15% |
| Turnaround time for premium payments to policy processing and claims settlement. | 20% |
| Demonstration of ease of registration and usage | 10% |
| Real time accessibility to account transactions. | 10% |
| Evidence of success in getting customers to use the platform. | 10% |
| Total | 100% |
38. Best Re-Investment Company in Product Innovation
Entry is open to all products in the Re-Investment 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-Investment companies licensed and regulated by IRA.
Judges will be looking at:
| Judging Criteria | Max. Score |
| Evidence of innovations in product distribution channel; market segmentation; customer experience | 30% |
| Marketing and customer engagement with your brands | 20% |
| Evidence that the innovation is disruptive, revolutionary and market-changing | 20% |
| Evidence of how the innovation significantly improves the user experience and impacts industry growth | 20% |
| Demonstration of how the innovation has reduced complexity for the insurer, thereby lowering costs and increasing their ability to respond to change | 10% |
| Total | 100% |
39. The Risk Management Award – Re-Investment
Re-Investment is a cover against risk. Risk management is therefore a very critical undertaking for any Re-Investment 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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Judging Criteria_C. Other criteria | Max. Score |
| Evidence of contribution to the advancement of both internal and external risk management in an organization within the Re-Investment Sector | 20% |
| Proof of the application of new techniques, effective identification and reduction of both internal and external risk | 20% |
| Tangible risk management strategies outcomes with examples such as evidence of cost savings, reduced error rates or sustained revenue/profitability | 20% |
| The existence of creative risk financing strategies | 20% |
| Sub -total | 80% |
| Total | 100% |
40. Claims Settlement Award – Life Re-Investment
The easy and timely settlement of a valid claim is the most important function of every Re-Investment 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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 30%) | 30% |
| Judging Criteria_C. Other criteria | Max. Score |
| Credit rating from a globally recognized rating agency | 15% |
| Adoption of innovative and clear processes in claims settlement (evidence of reduced complexities) | 10% |
| Innovative use of supply chain/partnerships to deliver efficient claims settlement | 10% |
| Adoption of technology in claim settlement process | 5% |
| The loss assessment process adopted by the company | 5% |
| Claims settlement rating from the Customer Satisfaction Survey rating (Conducted by Think Business) | 5% |
| Sub -total | 50% |
| Total | 100% |
41. Claims Settlement Award – General Re-Investment
Efficient and timely settlement of valid claims is the most important function of every Re-Investment 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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 30%) | 30% |
| Judging Criteria_C. Other criteria | Max. Score |
| Credit rating from a globally recognized rating agency | 15% |
| Adoption of innovative and clear processes in claims settlement (evidence of reduced complexities) | 10% |
| Innovative use of supply chain/partnerships to deliver efficient claims settlement | 10% |
| Adoption of technology in claim settlement process | 5% |
| The loss assessment process adopted by the company | 5% |
| Claims settlement rating from the Customer Satisfaction Survey rating (Conducted by Think Business) | 5% |
| Sub -total | 50% |
| Total | 100% |
42. The Major Loss Award
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
Judges will be looking at:
| Judging Criteria_C. Other criteria | Max. Score |
| Credit rating from a globally recognized rating agency | 20% |
| The value of the loss, of well beyond the norm, as a percentage of the total assets of the underwriter. | 30% |
| The intricate nature of the loss and the claims settlement process. | 20% |
| The period of time it took to settle the claim | 10% |
| The loss assessment process adopted by the company | 10% |
| Demonstrated ability to respond to such incidents, using the company’s own resources and co- ordination of those provided by third party suppliers. | 10% |
| Total | 100% |
43. Fraud Detection and Prevention Initiative: Re-Investment Underwriters
Fraud has become prevalent in the Re-Investment 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
Judges will be looking at:
| Judging Criteria_C. Other criteria | Max. Score |
| Demonstrated evidence of a significant contribution to the detection and prevention of Re-Investment fraud. | 30% |
| Evidence of a fraud detection and prevention Strategy | 20% |
| The use of new innovative techniques to detect similar fraud. | 20% |
| Evidence of resultant savings to the potential victim(s) | 30% |
| Total | 100% |
44. Medical Re-Investment Underwriter of the Year – Group Medical
Medical underwriting is steadily becoming an important class of Re-Investment 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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 30%) | 30% |
| Judging Criteria_C. Other criteria | Max. Score |
| Credit rating from a globally recognized rating agency | 15% |
| Adoption of innovative and profitable underwriting strategies | 10% |
| The innovative nature of the products offering for different consumer segments | 10% |
| Evidence of a clear customer orientated approach underpinned by research into new risks or problems | 5% |
| Innovative claims assessment process adopted by the company | 5% |
| Claims settlement rating from the Customer Satisfaction Survey rating (Conducted by Think Business) | 5% |
| Sub -total | 50% |
| Total | 100% |
45. PSV Re-Re-Insurer of the year
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
Judges will be looking at:
| Judging Criteria | Max. Score |
| Corporate Governance (see Appendix 1 – Prorated 20%) | 20% |
| Financial Criteria (see Appendix 3- Prorated 30%) | 30% |
| Judging Criteria_C. Other criteria | Max. Score |
| Credit rating from a globally recognized rating agency | 15% |
| Adoption of innovative and profitable underwriting strategies | 10% |
| The innovative nature of the products offering for different consumer segments | 10% |
| Evidence of a clear customer orientated approach underpinned by research into new risks or problems | 5% |
| Innovative claims assessment process adopted by the company | 5% |
| Claims settlement rating from the Customer Satisfaction Survey rating (Conducted by Think Business) | 5% |
| Sub -total | 50% |
| Total | 100% |
46. The Most Customer-centric Re-insurers – Life
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.
Judges will be looking at:
| Judging Criteria | Max. Score |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 30% |
| Product offering and innovation | 20% |
| Evidence of a clear customer orientated service approach | 20% |
| Proof of the success of the high level of customer satisfaction through a high retention level of customers | 10% |
| Branch distribution/ Agency network in Kenya | 10% |
| Seamless use of technology and digital applications | 10% |
| Total | 100% |
47. The Most Customer-centric Re-insurer – General
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.
Judges will be looking at:
| Judging Criteria | Max. Score |
| Customer Satisfaction Survey rating (Conducted by Think Business) | 30% |
| Product offering and innovation | 20% |
| Evidence of a clear customer orientated service approach | 20% |
| Proof of the success of the high level of customer satisfaction through a high retention level of customers | 10% |
| Branch distribution/ Agency network in Kenya | 10% |
| Seamless use of technology and digital applications | 10% |
| Total | 100% |
48. Best Re-Investment Company in sustainable Corporate Social Responsibility
This award seeks to recognize firms in the Re-Investment 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-Investment Industry.
| Judging Criteria | Max. Score |
| Existence of a vehicle (i.e foundation) through which CSR is undertaken | 5% |
| The level of staff, board and management involvements in the CSR activities | 10% |
| The regional spread (across the country) of the company’s CSR program(s). | 15% |
| The diversity of the CSR programs (i.e. education, health e.t.c) | 10% |
| The levels of innovation of the CSR program (identifying the need) | 15% |
| The motivation and participation of partners, communities | 10% |
| Commitment to long-term investment of resources towards the CSR program | 15% |
| A clear measurement of impact and solution of the CSR program(s) to the community | 20% |
| Total | 100% |
| JUDGING CRITERIA_A. Corporate Governance Parameters | Max. score |
| STRUCTURE OF THE BOARD | |
| Age diversity What is the average age of board members? | 5% |
| Academic qualifications – How many board members are graduates or have professional qualifications. Professional experience – What is the average working experience of the board members? | 10% 10% |
| Professional diversity- How many different professionals are on the board? | 10% |
| Gender – What is the ratio of Female: Male board members | 5% |
| BOARD OPERATIONS AND CONTROLS | |
| Appointments – Do you have transparent and documented procedures for appointment of new Board members (e.g. nomination committee)? | 10% |
| Do you have an induction framework for new board members? | 5% |
| Do you have continuous skills development program? | 5% |
| Performance Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 5% |
| Do you have clear policies and procedures for remunerating the board of directors? | 5% |
| Board Charter – is it periodically reviewed and made public? | 5% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with? How many board meetings do you have in a year (in 2016)? | 5% 5% |
| Do you have a clear guideline on the removal or exit of an existing board director? | 10% |
| Is there a term limit for the board of directors? | 5% |
| Sub total | 100% |
| Sub Total Pro-rated to 20% | 20% |
| JUDGING CRITERIA_B. Financial Criteria (General Business) | Max. Score |
| Total Assets | 10% |
| Gross Earned Premiums | 5% |
| Net Profit Margin | 5% |
| Retention Ratio | 10% |
| ROA | 15% |
| ROE | 10% |
| Commissions Ratio | 5% |
| Investment Return | 10% |
| Expense Ratio | 5% |
| Loss Ratio | 10% |
| Solvency Ratio | 10% |
| Operating Ratio | 5% |
| Total | 100% |
APPENDIX 3
| JUDGING CRITERIA_B. Financial Criteria (Life Business) | Max. Score |
| Total Assets | 10% |
| Gross Earned Premiums | 10% |
| Net Profit Margin | 10% |
| Retention Ratio | 15% |
| ROA | 15% |
| ROE | 15% |
| Commissions Ratio | 5% |
| Investment Return | 20% |
| Total | 100% |
NOTE:
If you have any feedback regarding the award categories and judging criteria, please get in touch with us via email on info@thinkbusinessafrica.com . You can also visit our website www.Investmentawards.co.ke
All information contained in the entry documents and marked confidential will remain so, and will not be released to any third parties without prior consent from the entrant.
