Preamble

THEME:ECOSYSTEM PARTNERSHIPS AND CROSS-INDUSTRY COLLABORATIONS: SHAPING KENYA’S INSURANCE FUTURE

We are pleased to announce the commencement of our 15^th Annual Insurance Awards 2025, scheduled for Friday, May 30, 2025, starting at 6.30 pm at the prestigious JW Marriott in Nairobi.

The theme for this year’s awards is “Ecosystem Partnerships and Cross-Industry Collaborations: Shaping Kenya’s Insurance Future.”

As we navigate 2025, Kenya’s insurance sector continues to demonstrate remarkable resilience and adaptability. Our chosen theme reflects the critical role that strategic partnerships and collaborations will play in driving our industry forward.

We have selected this theme for several compelling reasons:

1. Market Expansion:

With Kenya’s insurance penetration rate at 2.34% as of 2023, ecosystem partnerships offer a pathway to reach untapped markets and underserved populations, particularly in rural areas.

• Technological Advancement:

Leveraging Kenya’s position as the “Silicon Savannah,” collaborations with fintech and insurtech firms can accelerate innovation in our sector.

• Economic Alignment:

Partnerships can help align our industry more closely with the government’s Vision 2030 goals for financial services and economic development.

• Addressing Emerging Risks:

Cross-industry collaborations can enhance our capacity to develop innovative solutions for new challenges, from climate change to cybersecurity.

• Customer-Centric Approach:

Partnerships enable us to meet the evolving expectations of Kenya’s increasingly digital-savvy consumers.

By focusing on ecosystem partnerships, we have the opportunity to:

1. Expand into underserved markets
2. Accelerate digital transformation
3. Develop more personalized and relevant products
4. Improve risk assessment through data sharing
5. Contribute more significantly to Kenya’s economic growth

The Insurance Awards 2025 will recognize companies that have successfully implemented ecosystem strategies, fostering innovation and growth. We encourage all insurers to explore collaborative opportunities and showcase their initiatives at this prestigious event.

We look forward to your participation as we celebrate the partnerships shaping the future of Kenya’s insurance landscape.

Key Changes and Updates

1. New Award Categories: We have introduced new categories and revised existing ones to ensure comprehensive industry participation. A notable addition of the category is the “Insurance company with the Best Ecosystem Partnerships and Cross-Industry Collaborations”
2. Judging Criteria: We have refined our judging criteria to include a stronger focus on Environmental, Social, and Governance (ESG) factors, as well as financial performance metrics.
3. Submission Process: Entries will be submitted through our secure platform, ThinkAwards. Please provide names and emails of at least two people who will have access to the platform for your institution.

Important Dates

Additional Information

• The Banking Survey 2025 will be launched at the event, providing valuable insights into the sector’s performance and trends.
  • We will be conducting one-on-one CEO interviews focusing on this year’s theme. These interviews will be video recorded for our TV program “Thought Leaders Talk with Ochieng Oloo.”
  • A themed conference will be organized a few weeks after the awards to discuss insights and case studies on financial literacy initiatives.

How to Participate

1. Visit our awards website https://thinkbusinessafrica.com/insurance-awards/ for detailed information and to access the ThinkAwards platform.
2. Review the attached documents for comprehensive details on award categories, judging criteria, and submission guidelines.
3. Prepare your entries according to the specified criteria for each category you wish to enter.

We believe that your participation will contribute significantly to the growth and innovation in Kenya’s insurance sector. By showcasing best practices and achievements, we aim to drive competition, innovation, and stability in the industry.

Should you have any questions or require further information, please don’t hesitate to contact us at info@thinkbusinessafrica.com.

Eligibility

•     Entries are open to all Insurance companies, brokers, bancassurance intermediaries and all other professionals in the industry licensed and regulated by the Insurance Regulatory Authority (IRA).

•     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 awards website  https://thinkbusinessafrica.com/insurance-awards/ Click on the submit entry link which will take you to our awards platform ThinkAwards
• 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.