Digital push seen as key to unlocking Kenya's insurance market

Insurance penetration in Kenya stands at barely three per cent, a stubborn lag that has persisted despite broader growth in financial services...

✨ Key Highlights

Kenya's insurance sector is embracing digitalization to address its stubbornly low penetration rate of under 3%. Stakeholders believe a digital push is crucial to overcome barriers of access, relevance, and trust, particularly among the younger, digitally-savvy population.

Insurance penetration in Kenya stands at a low 2.44% as of 2024.
Old Mutual's Managing Director, Dr Isaac Nzyoka, is a key proponent of digital transformation.
Digital platforms aim to simplify the insurance journey, from comparison and purchase to claims, while enhancing the role of agents rather than replacing them.

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