Insurance companies are essential to protect yourself and your loved ones from financial stress caused by some problems in life. Whether it is a health issue, an accident, travel, sudden loss, or something else, these firms can help with financial support and security when these kinds of events happen. According to the Insurance Regulatory Authority, almost 50 insurance companies (2021) in the Kenyan Market offer various products and services. As a result, deciding which one is best for you can be difficult. Furthermore, if you have already switched from one insurance provider to another, you should be aware that all insurance companies are not equal in terms of services delivery. Here are the top best insurance companies in Kenya to know based on your needs and profile.
1. Jubilee Insurance Kenya: Best insurance for corporates & employees
Jubilee Holding Ltd is a Mombasa-based insurance company that provides various services to both individuals and businesses. Its insurance solutions aim to provide affordable but high-quality policies to corporates and employees. Jubilee has established itself as one of Kenya’s leading insurance firms, with offices in Uganda, Tanzania, and Burundi with over 450,000 clients. Also, the company is listed on the Nairobi and Dar es Salaam stock exchanges. On top of that, the firm has garnered numerous awards and recognitions over the years for its outstanding leadership, customer service, and risk management. So when it comes to choosing the right insurance provider for organizations and employees in Kenya, Jubilee insurance Ltd is the best option.
Address location: Jubilee Insurance House, Wabera Street, CBD, Nairobi, Kenya | Contact: +254-709-949-000
2. Britam: Best life insurance company in Kenya
The British-American Insurance Company, also known as Britam is a top-tier financial organization established in Kenya that offers cutting-edge insurance services. For example, the Afya Tele is a health microinsurance plan aimed at SMEs and registered groups of ten or more people. In addition, in 2019, the company received the Tall Buildings and Urban Habitat (CTBUH) award. Moreover, Britam was recognized as the best life insurance company in 2019 by the Association of Kenya Insurance (AKI)Agents. Today, Britam is Kenya’s most flexible and best life insurance company, thanks to its unique strategy and years of experience in the market.
Address: Elgon Road, Upper Hill, Nairobi, Kenya | Contact: +254-705-100-100 | Email: email@example.com
3. CIC Insurance General: Best home insurance provider
Many homeowners do not realize the value of home insurance until something goes wrong. Such as a fire, robbery, terror attack, explosion, or anything else that could cause property harm. As a result, having a domestic package gives you peace of mind, knowing that you will get compensated in such situations. That’s where CIC insurance comes into play. Third-party liabilities and domestic employees also get covered from accidental injury. CIC General Insurance is one of Kenya’s most well-known insurance and financial services firms. The insurance company, which has been in business for almost three decades, has thousands of satisfied customers. Today CIC is among the best home insurance companies in Kenya.
Address location: CIC Plaza, Mara Road, Upper Hill, Nairobi, Kenya | Contact: +254-703-099-120
4. AAR Insurance: Best medical insurance company
AAR Insurance is one of Kenya’s oldest and most reputable insurance companies. It began its operations in the country in 1984. Its initial business concept was to evacuate accident victims by air and road. However, AAR has expanded its offerings to its consumers over time. With AAR health insurance policy, individuals and companies enjoy a comprehensive cover that includes chronic and congenital conditions, maternity and psychiatric treatment consultations, and treatments.
Address location: Real Tower, Upper Hill, Nairobi, Kenya | Contact: +254-703063-000 | Email: firstname.lastname@example.org
5. Madison: Best insurance firm for children education in Kenya
One of the most important aims for each parent is to have a successful child education. Madison, a local insurance firm founded in Kenya in 1988, will assist you in achieving this goal. The Bima ya Karo Educational Plan is a program it offers. It’s an amazing insurance choice for parents who want to set aside money for their children’s education. It is a way of ensuring children’s future education. By covering the expenditures, this strategy allows children to pursue their ambitions. The company currently has an asset base of up to Ksh 5 billion. It offers some of the top insurance products in the country at competitive prices.
Address location: Madison House, Upper Hill Close, Nairobi, Kenya | Contact: +254-202-864-000
6. First Assurance: Best marine cargo insurance in Kenya
Prudential Assurance Company PLC, a British multinational insurance organization that began operations in East Africa in 1930, was the forerunner of First Assurance Company. Prudential Assurance Company changed its name to First Assurance Company Limited in January 1991, when it became a wholly-owned Kenyan company. The firm offers one of the most comprehensive insurance policies for the marine industry. From the initial port to the final destination, marine insurance protects the loss or damage of ships, cargo, and any precious products. When transporting important cargo by sea, air, or land, you must ensure its safety from loss or damage. That is where the First Assurance comes into play. It protects merchandise in transportation from the first loading zone to their final destination from loss or damage.
Address location: Dagoretti South, First Assurance Hse, Gitanga Rd | Contact: +254-202-715-464
Read Also: Best Personal Finance Apps For Budgeting
7. Resolution Kenya: Best travel insurance company
Good travel insurance providers are those that make it simple to get coverage and cover you in the event of an incident. And resolution insurance Kenya understands that best. Founded in 2002, the firm provides today one of the best travel insurances with an exceptional approach. Anyone traveling overseas will appreciate the peace of mind of its travel insurance coverage. It not only covers the costs of unanticipated events but also offers practical help while you’re away — 24 hours a day, 365 days a year. Furthermore, Resolution Insurance is one of the few insurers in Kenya that allows policyholders to pay premiums in monthly installments that are convenient for them. It is among the top best insurance companies in Kenya.
Address: Parkfield Place, Muthangari Drive, Nairobi, Kenya | Contact: +254-709-990-000 | Email: email@example.com
8. Kenya Alliance Insurance: Best car insurance company in Kenya
Starting operations in 1979, Kenyan Alliance Insurance had the objective of taking over the Sun Alliance group’s operations. The organization has grown into one of Kenya’s leading insurance companies as a member of the Association of Kenya Insurers. With a Ksh. 6.8 billion asset base and a Ksh. 700 million paid-up capital.
Today, the organization provides one of the best motor vehicle insurance in Kenya.
Address location: Chester House, 1st Floor, Kenyatta Ave, Nairobi | Contact: +254-202-241-626
Finally, whether you are an individual or a corporation, remember that choosing the correct insurance service provider is crucial. In addition, the list above includes some of Kenya’s leading insurance companies. However, many other insurance firms provide great and flexible insurance packages suitable for everyone. Protecting yourself, your family, and your assets from potential losses and damages is no longer an option. It has become necessary.
Written by AFRIKTA Team