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Insurers lobby to offer microinsurance policies without creating new subsidiaries
A previous study from Association of Kenya Insurers (AKI) showed demand has been strongest in health and funeral covers, as households seek protection from medical emergencies and the high cost of burial arrangements.
Insurance companies are seeking relaxed microinsurance rules to allow them to offer affordable, low-value covers without opening separate subsidiaries.
Through their lobby, Association of Kenya Insurers (AKI), the insurers have written to the Insurance Regulatory Authority (IRA) requesting changes to the Insurance (Microinsurance) Regulations, 2020 that require those intending to offer microinsurance business to set up separate microinsurance companies.
