CIC Life hosted a significant meeting with the Kenya Re team to explore potential collaborative business ventures on Wednesday 4th April 2024. The meeting, spearheaded by CIC Life’s Managing Director Mr. Meshack Miyogo, and Kenya Re's Group Managing Director Dr. Hillary Wachinga, underscored the strong existing relationship between the two entities. Discussions were wide-ranging, covering new business opportunities, innovative product partnerships, and strategies to tackle market challenges.
Dr. Hillary Wachinga, commending CIC Life’s prudent underwriting, expressed gratitude for their efforts and reiterated Kenya Re's commitment to expanding support and exploring additional business opportunities, with a focus on profitability and bottom-line growth.
The discussions delved into emerging trends in digital life insurance, highlighting protection gaps and proposing potential solutions. They also explored ways to enhance futuristic distribution channels to drive increased insurance uptake. The necessity of re-engineering traditional products and revisiting industry-wide exclusions was also discussed, leveraging Kenya Re's market expertise.
Key attendees included CIC Life’s Group Actuary - Salome Ndegwa, Head of Retirement Benefits - Vincent Ayora, Head of Life Underwriting - James Wamae, and Reinsurance Officer- Maina Muriuki. Kenya Re was represented by Acting Manager Life - Yoves Angwenyi, Manager Marketing & Kenya Re Academy Coordinator - Lucy Kagwiria, and Kenya Re Life Underwriter - Richard Mongo.
Following the meeting, the Kenya Re team committed to promptly finalize a few pending items and expressed interest in acquiring additional shares, signaling a promising future for both organizations.
