Demystifying Insurance in Kenya
Insurance is a means of protection against financial loss or damage that can occur due to unforeseen events. It provides individuals with a sense of security by transferring the risk of loss from themselves to an insurance company in exchange for a premium payment.
For an individual, insurance can provide a safety net against unexpected events such as personal accident, theft, motor accidents, natural disasters, or other unforeseen events that can lead to financial losses. Insurance can also offer protection for valuable assets such as a home, car, or business, allowing individuals to protect their investments and
minimize potential financial losses.
In addition, insurance also offers peace of mind by providing individuals with financial security in the event of an emergency. This can help individuals to focus on their recovery without the added stress of financial worries.
Overall, insurance can be an important financial tool for individuals, offering protection, security, and peace of mind in the face of unforeseen events.
Service providers such as Xplico Insurance, an exponential growth in retail underwriting that has over the past two years seen it set up a vibrant Corporate Division to cater for both SMEs and well-established companies, has been working around the clock to give the best to their customers.
This insurance player has gone beyond simply providing insurance solutions that suit peoples’ businesses needs by providing decisive financial solutions, cutting a niche in the corporate insurance. With a team of experienced local and international staff, the Corporate Division provides tailor-made insurance policies created to protect peoples’
businesses and advise them on market trends and new products.
Insurance has serious potential to create jobs and wealth. Ranging from covering individual and groups on various fronts, insurance is something that shouldn’t be a luxury but a want for most Kenyans.
It is about time for Kenyans to understand the importance of insurance in every aspect of life.
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