In addition to offering a review of key macro-economic metrics in Kenya, the research also provides a background to the banking sector through the following information: identification of the ten largest banks by number of retail banking customers; data to illustrate the development of the banking market including number of fully-licensed banks, deposit accounts, branches and ATMs and how each of these have developed since ; and review of the value and growth of the consumer mortgage and non-mortgage lending market. The research then focuses specifically on bancassurance with commentary in several areas: the regulatory environment and general importance of banks as an insurance distribution channel; the insurance product range, operating models and bancassurance partnerships of the ten leading banks; and future outlook for the value of the life and non-life insurance market of Kenya through to This research can be used in one or more of the following ways: understand the degree to which leading banks are involved in bancassurance in Kenya, the policy types that they promote and how they organise these insurance products;. Sign up to receive offers, news and information via email.
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We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime. The Journey of Bancassurance in Kenya. Upcoming SlideShare. Like this presentation? Why not share! Embed Size px. Start on. Show related SlideShares at end. WordPress Shortcode. LloydsResearch Follow.
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Generally, an eBook can be downloaded in five minutes or less Austine Okeyo , Accounts Assistant at Leatherlife epz ltd long to be champion in bancassurance. Aston University at Aston University. No Downloads. Views Total views. Actions Shares. Embeds 0 No embeds.
No notes for slide. The Journey of Bancassurance in Kenya 1. Effectiveness of Models at Play in Kenya…. The stringent Service Level Agreements enhance claim processing and settlement.
Increasing Penetration by Enhancing Bancassurance Credit Life and Mortgage protection on loans e. Supported by self-service menus on after sales service. Technology offers an opportunity to effectively and sustainably service this category of insurance consumers. This will create confidence for further investments in this channel by Banks. Increasing Penetration by Enhancing Bancassurance. You just clipped your first slide! Clipping is a handy way to collect important slides you want to go back to later.
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Bancassurance in Kenya: Current State and Future Perspectives to 2020
Please contact customerservices lexology. In certain developing markets, insurance and bank products have been sold together for many years without there being specific legislation to govern the conduct of banks that sell insurance products. In this month's legal update we review the new Insurance Bancassurance Regulations the Regulations which were published on 15 March Within the East Africa region, we have recently seen Kenya adopt rules that would regulate Kenyan banks offering insurance products, which were previously regulated as insurance brokers instead of bancassurance agents or operators. In Tanzania specifically, banks have been able to sell insurance products through their insurance broking licences, and they may continue to do so for a period of not more than 2 years from the commencement date of the Regulations. Whilst there may be a number of insurers in the Tanzanian insurance market, there is still room for the insurance sector to grow, and it is anticipated that with the inclusion of banks and financial institutions in bancassurance business, the Tanzanian insurance sector will likely expand and become a key investment sector for the economy.
The Insurance (Bancassurance) Regulations