How sales agent rose to win coveted insurance award

Agnes Kariuki describes herself as self-made woman. After finishing her ‘O’ levels in 1993 at she joined CfC Life (then Alico Kenya) in December 1995 at a tender age of 20. This month she was crowned the Insurance Agent of the Year by Association of Kenyan Insurers (AKI). She spoke to the Business Daily on her journey to the top.

How long have you worked in the insurance industry and what motivated you to join the industry?

This is my 15th year in the industry. In 1995, I found an advert in the Daily Nation asking for sales representatives. Though the age requirement then was 25 years, I decided to try my luck. I was invited for the interviews and to my surprise; the agency manager was convinced that I had the potential despite of the age limit. I was hired on contract.

I came to the insurance industry very green. Nevertheless I have never looked back .

What contributed to your success?

The determination to succeed. I have been focused to the business in addition to hard work.

The in-house training coupled with self discipline have helped me acquire the expertise. Seeking for further knowledge. I improve my skills and knowledge through reading extensively which in my view has helped greatly to shape my destiny.

Do you have a defined /niche market?

It has been a journey. I started low approaching everybody who was willing to listen to me, and with time this helped me build confidence.

As of now I am able to target high net worth self employed entrepreneurs and professionals who are able to make quick decisions, with the understanding of the importance of having insurance policy. To an extent, they also have high disposable income.

How do you keep yourself motivated?

Reading motivational books, associating myself with successful people with the right attitudes and more importantly I remain focused to my clearly define personal goals.

What are the main challenges that agents face in selling life insurance?

Most agents start the business when their selling techniques are not yet sharpened.

They have low product knowledge and are also limited in terms of resources given that salary is on commission basis. The other big challenge is posed by the nature of insurance business which is never bought by the public, but sold and how the general public view the whole business.

What future do you foresee for the life insurance industry in Kenya?

The future is bright. With the vision 2030, the economy is certainly projected to expand implying more disposable income to the people.

More will afford to invest in life insurance as one of the avenues. Secondly, the penetration rate (currently at one per cent) is expected to increase with increase in level of knowledge.

Currently, all agents are expected to sit for the Certificate of Proficiency (COP). This will increase the number of professional agents, increasing confidence in the market.

The increase in literacy levels will help in creating a more informed population, who can appreciate the value of buying and investing in insurance products.

What are some of the common mistakes that agents tend to make?

Poor service delivery to clients, lack of integrity, especially where agents handle cash premiums and poor work ethics.

What advice do you have for agents who have just joined the industry?

They must be ready to acquire the necessary skills needed in the career.

The profession is rewarding to those agents who are patient and willing to progressively learn the ropes of the trade.