Kenya Orient Insurance Company (KOIL) is registered under the insurance Act of Kenya and is authorized to endorse or back all classes of General Insurance Business.

The History of Kenya Orient Insurance Company

Kenya Orient Insurance Company has been in the insurance business for the last 30 years. The company has been in steady and remarkable growth and has about six branches in the country.

It has four executive directors that assist and facilitate its running together with their CEO Virginia Magondu. The mission and vision statement of the company is to provide relevant yet unique insurance products and to be the ideal insurance provider in Africa.

It has been ranked among the top 4 insurers in Kenya by the Kenya Insurance Companies Brokers.

Products and Services Offered By Kenya Orient Insurance Company

The company offers services and products that will meet your insurance needs. Orient Insurance Company is rated among the top four insures because of its services and products. Here are some of the services;

Orient Business

Orient business has three policies that cover your property, such as vehicle and home against theft, fire and accident.

Orient Burglary

This policy covers your building and its contents against theft by means of force.

Orient Fleet (Motor Commercial)

This policy covers your motor in the incident that it is involved in an accident or burnt or stolen and also the third party liabilities.

Orient Money In Transit

It provides cover for loss of money that is in direct transit.

Public Liability

This policy provides cover for all your sum of money. This is the money which the insured has paid to cover for accidental bodily injury and or damage to property of 3rd party.

Orient industrial

Orient industrial policy offers covers to company’s building and goods against theft and machinery breakdown.

Orient Contractors All Risk

This policy provides financial cover in the event that your property is stolen or damaged and also covers for renovations of buildings.

Orient Goods In Transit

The policy provides financial cover against loss or theft of your goods while in transit from one location to another.

Orient Machinery Breakdown

This policy provides cover for sudden and unpredicted mechanical and electrical breakdown.

Orient Personal

Orient personal has four policies that provide cover on your home and motor vehicle against theft, accident and fire.

Orient Safari Bima

This is another policy of its kind first from Kenya Orient; Orient Safari Bima is personal accident benefit cover that is purchased using scratch cards.

Orient Golfers

This policy provides cover against the loss of or damage to golfing equipment and personal effects. The cover is provided country wide and excess free.

Orient Ultimate Motor Pack

This policy is an excess free package that combines motor insurance with personal accident that includes 24 hour rescue and emergency services.

Orient Home Insurance

This policy provides a cover on your residential property and assets, such as buildings, furniture and fixtures and all household equipment and personal items in the event of fire or theft.

Orient Bila Shaka

This is a personal accident benefit plan.

Why Insure With Kenya Orient Insurance Company

Accidents are happening everyday in life; it is worth to get an insurance cover with Kenya Orient Insurance Company. Kenya Orient is known for it fast costumer service, when it comes to payment of claims. The process is fast and accurate.

Kenya Orient Insurance Company respects and values it clients and ensures that their needs are well catered for.

After paying the fee your insurer will pay compensation for any losses you will incur as long as it lies within the terms and conditions you had agreed upon in the letter of contract you signed with that particular insurance company. The compensation is fully paid so it is making it beneficial to the insured.

Expenses occur when we least expect them, so it is all on the subject of risks and making sure that you reassign it to the insurer. There are several kinds of insurance products in the market today for example property insurance, fire insurance, liability insurance, famous travel insurance, medical insurance, auto insurance, mutual funds, home insurance, health, brokers, banking loans insurance and many others.

The top 10 insurance companies as ranked in Kenya

There are very many insurance companies in Kenya today since everyone is looking for a means of earning a living. This resulted to the insurance industry pointing out the top 10 insurance companies and making them known to everyone. They include:

Jubilee Insurance Company Limited

This is a leading insurance company in East Africa and it has its headquarters in Nairobi located at Jubilee Insurance House on Wabera Street P.O Box 30376–00100 GPO Nairobi, Kenya; which is the capital city or Kenya. It has a strong financial ground and more than 70 years or experience.

This company is the fist amalgamated insurer in east Africa and Kenya and number one in medical insurance. It has plans to extend into other 12 countries in Africa in the coming three years. At the moment it has 8 branches spanning in the state. It was listed on Nairobi Stock exchange in 1984 and cross listed in 2005. It delivers modern results, marketing circulation and service clarifications across its high-quality individual lines, globally and life industries.

Jubilee operates with Lloyd’s which is at the moment enjoying A ratings. They put their customers at the heart of their business model. The relationship between the company and their customers is based on the single truth their clients tell them and they assume that the information is very crucial to them.

Kenindia Assurance Company

In the year 1978, there was a big landmark for the insurance industry in the area. Insurance companies for India that were operating in Kenya decided to come together and form a vibrant joint scheme which had ethical and financial maintenance from local trade elite that were leading at that time. This whole idea became certainty on December 6th 1978 when Kenindia Assurance Company Limited began.

The insurance companies operating in Kenya which joined to make Kenindia companies are as follows: oriental insurance company ltd, life insurance Corporation of India, New India Insurance company ltd and United India insurance company ltd.

After 1979 the following became main shareholders: Life insurance Corporation of India with 10.21%, New India insurance company with 9.9%, General insurance corporation of India 9.19%,and National insurance company ltd9.19% shares.

Ever since, Kenindia has developed from strength to strength in becoming a guiding household name in Kenya. By 1996, a period of eighteen years, this insurance Company had traversed the KShs. 2 billion gross first-rate income mark to be converted into the largest Insurer in Kenya that deals with non life matters. This summary is in itself a report of the amazing phase the company has arrived at in its advancement ever since that union in 1978.

British American Insurance Company

British American insurance company ltd is an expanded financial services grouping in Kenya offering vast range of asset and insurance services to people, government entities, small entrepreneurs and corporations.

This group has been providing extended heritage financial services from 1920. Other small organizations in the group have also successfully provided investment produce and services making them market heads in their relevant jurisdiction.
The Kenyan business British-American Insurance Company (K) Ltd, was recognized in 1965 and up to now it has not less than 46 years of experience in the country’s market providing property or casualty, group life, pension, individual life and health care insurance to its customers.

The company has experienced a major growth over the past few years. The total gross payment as at 31st December, 2010 was Ksh 4.3 billion while the total resources were amounting to Ksh 25.4 billion. Income from investment was more than Ksh 4.7 billion by December 25th 2010.

Pan Africa Insurance Holdings

Pan Africa insurance Company was established in the coastal town of Mombasa, Kenya by relatives of Asian basis. The first chairman was known as Mr. Ambalal Patel, who was chosen in 1954 as the Minister of the Government of Kenya Colony. The Company began their life business inscriptions in 1947.

Pan Africa insurance company was recorded on the Nairobi Stock Exchange, and it was the first Insurance Company to be lined up. Up to this minute only two insurance companies are lined up. The name Pan Africa Insurance Company Limited was acquired in 1963 mainly to be a sign of the expanded ownership.

The Company created sub branches in Nairobi, Kampala and Dar-es-salaam.
Pan Africa Insurance Holdings Limited was reformed in 2004 after the union to come up with two entirely owned subordinates

Pan Africa Holdings has possessions in surplus of three billion Kenya shillings as at end of year 2003. Pan Africa Life closed the year 2003 with a payment income of ksh 812 million and it is still aiming higher.

Heritage Insurance Company

Heritage provides short term insurance services of claim payments. It was recently deemed as the award winner for the outstanding insurance underwriter in settlement of claims as proposed by associates of the association of insurance brokers of Kenya. The GRC (Global Rating Company) has also rated it AA due to their high ability of paying.

Heritage came about when Norwich Union Fire insurance together with Legal and General insurance societies started their workings in Kenya, merged their ideas and interests to form Heritage insurance company limited. Later, the shareholding was bought by local shareholders making its ownership fully Kenyan hence locally owned.

In the middle 1990s, heritage joined forces with African International Insurance Company and obtained its new name as Heritage African International insurance company (heritage A.I.I insurance company).

APA Insurance Services

APA which stands for American Photographic Artist insurance provides insurance products that are made specifically for those photographers who are professionals. It has a strong long term relationship with carriers who are internationally top. This has helped members of APA insurance to easily access specialty sessions for photographing.

The company provides professional liability (Errors and Omissions) business owners packages and general liability policies with availability of coverages that are not compulsory together with but not strictly limited to rental equipment and/or photo equipment.

Some of other offers of APA business insurance are: Umbrella, compensation of workers, auto commercial and employment practices liability services. APA insurance services also make it possible for APA insurance members only reduced Auto individual and Homeowners insurance that is written throughout travelers insurance.

Insurance company of East Africa (ICEA)

Insurance Company of East Africa (ICEA) is a member of the First Chartered Securities Group. This is a leading savings and trading group which has interests in varied sectors found locally in Kenya. These sectors include insurance, banking, manufacturing shipping, property and agriculture.

Insurance company of East Africa is strong based insurance company in Kenya and with its presence in the entire East African area. It has the chance to market and sell both general and life insurance services and products for a business partner who is considerably reliable and also stable. It is completely independent and a place where you get exactly what you worked for the entire period you will be working with them. It has branches spread all over Kenya; Nairobi, Kisumu, Nyeri, Mombasa, Nakuru and Eldoret.

For one to qualify for a position in this company, he/she must be in possession of the following proficiencies and attributes: have a university degree or a higher Diploma, COP in insurance or anything that is equivalent to the professional certification, entrepreneurial desire to run an own business, successful working experience in marketing, teaching, sales, be ambitious, hardworking, highly networked, good presentation and communication skills.

Blue shield Insurance Company

Blue shield insurance company ltd has been rated amongst the top 10 insurance companies due to its high degree of provision of insurance products. Some of its products include:

General insurance
General Insurance as a product of blue shield consists of insurance of property against theft, fire, robbery, burglary etc, individual insurance such as health and accident Insurance, and liability insurance which covers legal accountabilities.

Agriculture Insurance
Under agriculture insurance there is livestock policy which deals with a broad variety of animals under the every risk of death. This compensation can also be made bigger to cater for transit and theft risk of animals.

Insurance for poultry covers the mortality of insured poultry because of convenient illness, accidents, sickness and the strategy can be enlarged to include robbery of insured birds. Crop insurance covers produces like maize, beans, wheat, rice and barley against physical loss or failure of/ to a growing crop. Cover in respect to recurrent crop can also be resulted.

Life Insurance
Despite the fact that people invest they should find a way to manage their wealth and riches effectively to be able to achieve maximum output out of it. Accidents occur without any notice, anytime, anywhere and very few victims in case any are always ready to deal with the end results.

The surviving victims have to sell properties to deal to pay for the sudden escalating medical expenses, while the bereaved ones are left to adjust to the situation. Blue shield insurance provides such people with a lot of benefits.

UAP Provincial Insurance Company

UAP provincial insurance company operates like a life insurance company in Kenya being amongst the top most insurance companies. This company has its headquarters located in Nairobi, Kenya.

It offers several products such as life insurance, tailored insurance, commercial insurance and personal insurance. It also covers healthcare, marine and pension if insured. It has a vision of soon being Africa’s innovative financial services company and a mission of enhancing the quality of life by conveying peace of mind and financial freedom throughout an exceptionally motivated group that delivers what consumers want.

It is one of the leading companies in Kenya and has been in operation in Kenya for not less than 70 years. It has established more branches in Uganda and Southern Sudan and a big network of branches all over Kenya hence able to give prompt services to its customers countrywide.

Co-operative Insurance Company

Co-operative insurance company of Kenya (CIC insurance) was found in 1978 formerly known as co-operative insurance services ltd (CIS insurance). The changing of the name from CIS to CIC in 1999 was part of the market repositioning strategy of fully changing the then tiny insurance company to a respected and well known insurer in Kenya. It offers general and life insurance products.

The vision of CIC insurance company is be listed amongst the top 6 highly performing insurance companies in the country and to be leading in the provision of insurance services to the co-operative section.

CIC has a mission of providing competitive, high quality and relevant insurance services and products that will enhance the stability and security of financial status of their customers.

Good and bad side of the Top 10 Insurance Companies in Kenya

Signing a contract with an insurer which is also known as annuity is good. Why? Because you are guaranteed rates of return on your money, there is tax deferred growth and compounding in the annuity agreement.

Annuity has got its bad side which is you will have to give payments for the guarantees, they can be overused in a bank and it might take longer than you expect. To aver such problem always use the strongest insurance company around you.

Is it worth getting a cover with one of the top 10 insurance companies in Kenya?

Accidents are happening every other time in Kenya. No one knows how, where and when such tragedies can happen to him or her. These accidents come with a lot of expenses to be catered for and a lot of adjustments to undergo during the course of the accidents.

Let your health, wealth and properties be your first priority. Take a cover now and enjoy its benefits. The above discussion on the Top 10 insurance companies in Kenya will help you in choosing the most suitable insurer depending on your claims or losses.

Madison is willing and ready to partner with you and help you go through the process of planning for the activities and strains of your life without any fear.

If there is any area that has undergone a drastic change in people’s lives is their health and well being. Majority of them might be finding it hard to live a fearless life due to unwanted and mysterious accidents that may occur anytime. In most cases these accidents come with a lot of expenses that leave victims so desperate. Madison has come to rescue you from these disastrous situations.

Products for Madison Insurance Company of Kenya

Madison insurance offers various products that are suitable for any kind of claim or risk. Some of these products include:

Smart Investor Financial

This product is venture based and tailored to produce great proceeds to policy holders through careful investment of finances by finance managers. This product is unit linked whereby donations are used to buy units in an investment program which is expected to produce high proceeds.

Some of its benefits are: There is no age limit; the depositor can increase the donations at any time within the policy period, the more you contribute the higher returns you get. Finance value is determined per month and statement send annually on the policy anniversary. Medical verifications are not needed for this cover and the plan permits partial withdrawal of money value after three years.

Modified whole life policy

You and your family can be freed from financial constraints after retirement or when you are not in a position to provide for them. It combines investment with life cover. You are the one who decides on what amount and how you would like to pay for the premiums for a given time for your entire life.

It has some benefits which are: in case of death of the life assured before attaining 70 years, the whole insured sum is paid plus bonuses, the policy can be used as security for a loan and the policy has got high cash value.

Bima Chali

This product has a great opportunity to save money. It is a guaranteed and safe investment which offers everyone life assurance. With a minimum monthly payment of Ksh 1500 you can happily enjoy the journey of life. It is a suitable policy for many that give investment benefits made to produce high returns to the shareholder and 24 hour life in addition and disability cover.

The policy holder is able to get high returns from the investment units, a payment equivalent to 25% of the total amount assured against diagnosis of prostate cancer and a life donation of up to ksh.500, 000 maximum.

Lala Salama

Mortality strokes each and every corner of our community. It is indeed for this reason that Madison insurance company decided to offer lala salama as a product to provide insurance services that will facilitate the easy state of the bereaved family.

Madison insurance company of Kenya works with other professional bodies

Madison insurance company of Kenya has been working with architects, doctors, surveyors and accountants in order to make you stay more comfy. These are professionals who improve people’s lifestyles by using their professional skills. Take an initiative and get insured because this is the best way to eradicate worries. Madison of Kenya will help you recover your properties, health, and repay bank loans in case of any uncertainty.

In all, it’s a great insurance company in Kenya.

CIC is made in a manner that it is able to deliver insurance services to low income earners. This is as a result of the structure of the co-operative company and the philosophy which is a very efficient and flexible form of technicality for channeling the co-operative insurance products to the less fortunate.

What are the strong points of Co-operative Insurance Kenya?

Identifying the needs of the less fortunate in a manner that they are in a position to point out what is the basis of poverty on the area in question. They try to find out what is it that the poor people are doing or not doing to eradicate their poor status. They come up with ways and offer products that will ease the process of poverty eradication.

CIC fights to win the trust of its consumers. It is able to achieve this by providing the quality insurance services that no one has ever had in the near past. It is also able to reduce the moral hazard in the communities, deal with the adverse selection and fraud, and provide its customers with suitable and reliable education by empowering its consumers and employees.

They have a special concern for the common Kenyan such as workers, farmers and those people in the Juakali (informal) sector. This factor has given co-operative insurance a unique appeal to a lot of people and institutions and attracted incredible goodwill both in and outside Kenya.

The Historical view of Co-operative insurance Kenya

CIC has surely come a long way in the insurance industry in Kenya. Actually the today’s CIC is a full contrast of the tiny and confined company which had a humble growth in its first 2 decades of operation.

From 1989 to 1998 the company was experiencing some dramas. The situation got so bad that in 1995, it was on the edge of collapsing on explanation of bankruptcy and not being able to meet the required minimum share capital by the insurance regulator. It was heading to a point of being de-registered by the insurance commissioner.

The rescue of Co-operative Insurance Kenya

In December 1995, their friends; the international co-operative movement came to their rescue. They put in $ 1.1 million and ICMIF provided 2 consultants to help in bringing the company back to life. Despite the efforts the company did not pick and the consultants suggested that it be bought by a private company for ICMIF members to recover their money.

Transformation of co-operative insurance Kenya

CIC has currently transformed and is a shinning and good example of ICMIF’s help, and application of the principle of co-operation and value of togetherness which are the principles of co-op movement. Even though it first operated without a strategy, the transformation was in the first and second strategic plans.

Ownership of Co-operative insurance in Kenya

Currently, CIC insurance is being fully owned by Kenyan co-operative movement. It is the leading insurer in Africa with shares of USD 14.5 million being top most capitalized insurance company in Kenya. It is in partnership with co-operative bank, who are the biggest shareholder.

To outsource the big numbers of poor population with financial help, it calls for strong financial section which has a broad range of providers giving services able to meet wide range of needs of the population.

The structure and philosophy of co-operative are very efficient in satisfying the needs of the poor. It is for this reason that the model of co-operative insurance Kenya is deemed as perfect for controlling insurance products all over Kenya.