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The Kenya Mortality Tables – KE 2007-2010

The Kenya Mortality Tables KE-2007-2010 have been completed and approved by the industry regulator, IRA. The Tables are awaiting incorporation in the Insurance Act before they can be adopted by underwriters. 
The KE 2007-2010 Tables are a follow up to the initial KE 2001-2003 Tables that were commissioned in 2005 and completed in 2007 and have been in use in the industry. 
Development of the KE 2001-2003 Tables for assured lives mortality rates put Kenya on the world map for being the second country in Africa to develop its own mortality tables. To date, Kenya and South Africa are the only countries on the Continent to have achieved this great feat.
Read more on the Mortality Table

Request for EOI for implementation of IMIDS

The Association of Kenya Insurers has sent out a request for expression of interest (EOI) for the implementation of an Integrated Motor Insurance Database System (IMIDS). 
The database, once completed, will enable AKI centralize motor insurance data to facilitate detection of fraudulent practices in the motor insurance sector. 
All interested firms can download on the link EOI Document. Bids should be submitted by 20 April 2016 for evaluation.

Patrick Tumbo elected AKI Chairman

Mr. Patrick Tumbo was elected AKI Chairman at the 29th Annual General Meeting held on 24th March 2016. Other nine board members were also elected at the meeting to serve for a two year period.
In his acceptance speech, Mr. Tumbo outlined his vision for the Association as that of creating strong partnerships with key stakeholders to ensure accelerated growth and development of the insurance industry. Formation of the East African Insurance Association is also part of his agenda going forwards. 
Mr. Tumbo is the CEO of Jubilee Insurance company and has served as a member of the AKI Board between 2014 and 2015. 
Read more about the Board Members

Life Insurance Guide Books

In a bid to enable consumers understand life insurance, AKI has developed guidebooks that provide information on life insurance.
In particular, AKI has developed four guide books on personal pension, annuities, group life and personal life insurance. The guide books provide details on the various platforms that exist to undertake life insurance and pensions and answers some of the most frequently asked questions.
The guidebooks are available here

Pensions awareness campaign

AKI in partnership with the insurance industry carried out a campaign on pensions with the aim of raising awareness and creating interest among employers and employees. 
The campaign highlighted the benefits of taking up retirement benefits schemes and the unique advantage of guaranteed pension schemes.
According to statistics from the Retirements Benefits Authority (RBA), there are 1,300 registered retirement benefits schemes in Kenya, covering approximately 15% of the total labor force and mainly those in the formal sector. The informal sector, which employs more than 80 per cent of the Kenya workers, has less than 1% of the participants saving for retirement.
The key message for the campaign is to encourage people to start saving early for retirement and this is captured through the tagline “Don’t lose out on your good years”. The campaign was run on TV, print media and on social media.
Read more on the Pensions Campaign 

AKI Insurance Industry Sports Day

The Secretariat organized the first Insurance Industry Sports day on 31st October 2008 and has continued doing so every year. The objective is to bring together insurance companies and industry stakeholders to participate in sporting activities and to offer staff an opportunity to interact/network.
The 2015 Insurance Industry Sports took place at Railway’s Training Institute from 28th July to 28th August 2015 and the finals took place on 12th September 2015. The participating teams took part in athletics, ball games, swimming, indoor games and other auxiliary games including kati, Kuku chase seniors, half –bucket balance relay and the CEOs karai karai.
24 organizations participated in the games as listed below.

  1. Occidental Insurance Company
  2. Trident Insurance
  3. AIG Kenya
  4. APA Insurance Group
  5. CIC Insurance Group
  6. Liberty/Heritage GroupCorporate Insurance
  7. Mornach Insurance
  8. Pan Africa Life Assurance
  9. Kenindia Assurance
  10. Cannon Assurance
  11.  Kenya Reinsurance Corporation
  12. Jubilee Insurance
  13. First Assurance Company
  14. ICEA LION Group
  15. Madison Insurance Company
  16. Britam Group
  17. Geminia Insurance Company
  18. Insurance Regulatory Authority
  19. Pioneer Assurance
  20. Kenyan Alliance
  21. Gateway Insurance
  22. Mayfair Insurance
  23. Pacific Insurance Brokers
  24. College of Insurance

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