Jubilee Insurance launched the 2015 Life Agent’s Incentive program. This came shortly after the department was awarded the Group Life Best Practice Award at the annual AKI Agent of the Year Award (AAYA).
Speaking from Jubilee Centre, Jubilee Kenya CEO Patrick Tumbo said that the award was a remarkable achievement that goes a long way to demonstrate that Jubilee operates within the set industry standards and regulations by Insurance Regulatory Authority (IRA).
“Our mission is to deliver solutions that protect the future of our customers and at the same time engaging in healthy competition with fellow industry players. Our premium rates are as recommended within the IRA guidelines, to whom, we submit our monthly sales data within the required timelines and we also get a loss ratio from the reinsurer or insurer before taking on new business,” said Mr. Tumbo.
The qualifiers of the 2014 incentive program were recognized and appreciated for the gallant effort, as they prepare for a tour to Istanbul, Turkey. The incentives also included a cash reward for shopping while on the tour! While launching the 2015 incentive program, the General Manager Life Business, Aggrey Mulumbi said that the program will reward all committed and best performing agents, as well as drive best sales practices in the agency force. Jubilee insurance had 13 qualifiers in the just concluded Association of Kenya Insurers Agent of the Year Awards. These are agents who have achieved their sales targets of the Number of policies and also achieved an Annualized Premium Income (API) and had a minimum persistency of 85%. The awards that take place on the first Friday of March every year aim at motivating agents to sell more and hence increase the Life insurance penetration in the Kenya.
About Jubilee Insurance
The Jubilee Insurance Company Kenya Limited (JICKL) was incorporated in 1937 as a composite insurer based in Mombasa becoming the first locally incorporated insurance company in Kenya. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest multi-line insurer in East Africa, handling both long-term and short-term insurance, today Jubilee is the number one insurer in East Africa with over 470,000 clients and several regional branches under the holding company, Jubilee Holdings Limited. Jubilee Insurance has four business lines namely Medical, Life, Pensions and General. It is the leading medical insurer in East Africa with a network of offices spanning Kenya, Uganda, Tanzania, Burundi and Mauritius. It is the only ISO certified insurance group listed on the three East Africa stock exchanges.