Corporate News
Accident-free motorists to enjoy cheaper car insurance rates
An accident scene. Kenya loses approximately Sh14 billion annually to road accidents. Photo/FILE
By STEVE MBOGO
(email the author)
Posted Friday, March 19 2010 at 00:00
Posted Friday, March 19 2010 at 00:00
Motor business in 2008 accounted for Sh15.4 billion of the general insurance valued at Sh36.8 billion, which is equal to 41.8 per cent.
The high loss ratio is partly blamed on fraud, which is estimated to account for 40 per cent of claims.
AKI recently started implementing an industry-wide automation system to help to ease fraud in the business by enabling real time online data sharing.
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