Automobile Insurance The Importance of Evaluating the Financial Strength of an Insurance Company infobima, February 23, 2024February 23, 2024 When it comes to choosing an insurance company for a long-term contract, there are several factors that deserve careful consideration. One of the most critical aspects that often goes unnoticed is the financial strength of the insurance company. While it may not be the most exciting topic to delve into,… Continue Reading
Insurance Understanding Novice Excess in Automobile Insurance infobima, February 23, 2024 When it comes to automobile insurance, there are various terms and concepts that can be confusing for policyholders. One such term is “Novice Excess.” In this article, we will delve into what Novice Excess is and how it impacts your automobile insurance policy. What is Novice Excess? Novice Excess is… Continue Reading
Insurance The Role of Insurance Regulatory Authorities in Consumer Protection infobima, February 23, 2024 Insurance plays a crucial role in our lives, providing us with financial security and peace of mind. However, with the complexity of insurance policies and the potential for disputes, it is essential to have a system in place to protect consumers. This is where Insurance Regulatory Authorities (IRAs) come into… Continue Reading
Microinsurance: The New Target for Insurance Companies infobima, February 23, 2024 In the world of insurance, there is a new player on the field – microinsurance. As the name suggests, microinsurance is a type of insurance that caters to the needs of low-income individuals and families. While traditional insurance policies have been primarily designed for the middle and upper classes, microinsurance… Continue Reading
Insurance The Evolution of Insurance in Kenya: A Journey of Protection and Growth infobima, February 23, 2024December 4, 2024 Insurance plays a vital role in safeguarding individuals, businesses, and the economy as a whole. Over the years, Kenya has witnessed significant developments in its insurance industry, transforming it into a robust and dynamic sector. This article takes a closer look at the evolution of insurance in Kenya, highlighting its… Continue Reading
Insurance Understanding the Concept of Excess and Excess Protector in Motor Insurance infobima, February 23, 2024 Motor insurance is a crucial aspect of owning a vehicle. It provides financial protection against unforeseen circumstances such as accidents, theft, or damage to your vehicle. When purchasing motor insurance, it is important to understand the concept of excess and excess protector, as they play a significant role in determining… Continue Reading
Insurance The Hidden Truth: How Lack of Information about Insurance Contracts is Giving Kenya’s Consumers a Raw Deal infobima, February 23, 2024 When it comes to insurance, knowledge is power. Unfortunately, many consumers in Kenya are being left in the dark about the intricacies of insurance contracts, resulting in a raw deal for them. The lack of information and understanding about insurance policies can have serious consequences, leaving individuals and businesses vulnerable… Continue Reading
Climate Change Adapting to Climate Changes: How East African Underwriters are Paving the Way infobima, February 23, 2024 Climate change is a global phenomenon that has far-reaching impacts on various industries and sectors. East Africa, known for its diverse ecosystems and vibrant economies, is no exception. As the region experiences shifts in weather patterns, rising temperatures, and increased frequency of extreme events, the insurance industry, particularly underwriters, are… Continue Reading
Insurance Will AI Replace Humans in Underwriting and Risk Assessment? infobima, February 23, 2024 Artificial Intelligence (AI) has become a buzzword in almost every industry, promising to revolutionize the way we work and live. In the realm of underwriting and risk assessment, AI has shown great potential to streamline processes, improve accuracy, and enhance decision-making. However, the question remains: will AI replace humans in… Continue Reading
Insurance How Telematics and AI are Shaping the Insurance Industry infobima, February 23, 2024 In recent years, the insurance industry has been undergoing a transformation, thanks to the advancements in technology. Two key technologies that are playing a significant role in this transformation are telematics and artificial intelligence (AI). Telematics, the combination of telecommunications and informatics, involves the use of sensors and GPS technology… Continue Reading