“Embracing Strategic Transformation – Insights and Lessons.”

History of Insurance Insurance dates back to early human society Insurance became more sophisticated in the enlightenment era in Europe Insurance introduced to Kenya in the early 20th Century by settlers

What does Insurance provide? Stress Relief Mental relief from the constant uncertainty of potentially adverse circumstances. Insurers cater for most out-of-pocket costs during fires With life and health insurance policies in force, you can access treatment and provide for your family when you're gone.

What does Insurance provide? Business Risk – Allows businesses to take necessary risks without fear of huge financial loss Economic Stimulation - Economies are bolstered by insurance by use of pooled capital to fund projects until required Safety – Advisory to businesses about proper safety techniques to minimize workplace injuries and fire loss

Visuals of insurance

Kenya Industry Indicators

Low Penetration

Low Growth Rates

Actual Growth Rate

Low Profitability

Low Retention Retention in life is at 92% Retention in GB dropped from 75% in 2016 to 70% in Q2 of 2017 Where are these customers going to?

Key Challenges to industry Low knowledge and awareness of insurance Negative perception of industry Poor service Cultural and religious beliefs Cumbersome claims process Poverty and low income levels

Overcoming These Challenges Lies In Embracing Strategic Transformation

Definition of Strategy The determination of the long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals.  Chandler (1962)Strategy and Structure.

Definition of Transformation A marked change in form, nature, or appearance

Strategic Initiatives for Product innovation Creative distribution channels Improve customer service experience-more customer touch points Focus on value rather than price Embrace technology

Strategic Transformation – AMACO

In Brief Registered in year 2000 General Business Underwriter Branch network – 26 MIS organized for most efficient service Highly qualified, experienced & dynamic staff 2015 turnover - Ksh 3.3B 2016 turnover-Ksh.3.2B

Our Presence 26 157,088 Branches Customers served in 2016   36,829 14,476 10,036 7,821 Transnational Plaza EABS Afya Thika 7,425 7,061 6,886 6,725 Eldoret Nakuru Eastleigh Mombasa 4,986 4,731 4,691 4,080 Kitale Kapsabet Kericho Nyeri 3,981 3,828 3,611 3,507 Narok Embu Bungoma Naivasha 3,479 3,449 3,393 2,907 Kisumu Kisii Nyahururu Malindi 2,803 2,722 2,703 2,403 Migori Bomet Kakamega Meru   1,576 959 Voi Head Office

OUR MISSION OUR VISION To provide reliable insurance solutions   To provide reliable insurance solutions that guarantee sustainable personal and business financial security. OUR VISION To be the trusted   insurance and related financial services partner in Africa.

Service Beyond The Obvious CORE VALUES Flexibility Excellence Team Work Customer – Focused Honesty MOTTO Service Beyond The Obvious

ASSET BASE CAPITAL STRUCTURE The Asset Base - Ksh. 4.595billion. Funds investment government securities fixed term deposits real estate CAPITAL STRUCTURE The paid up share capital is Ksh 987 Million (way above the Provisions of the Insurance Act)

FIVE YEAR GWP PERFORMANCE

FIVE YEARS PROFITABILITY

THREE year BROKER CHANNEL PERFORMANCE

CLAIMS PAID

PSV ….. IS NOW

KEY PRODUCTS- The merchant commercial No blame no excess Tracking device Personal accident for driver and turn-boy COMESA region comprehensive Medical expenses Monthly loan repayment Excess protector WIBA Plus cover

OTHER KEY PRODUCTS Travel Insurance Bid / Tender Bonds Performance Bonds Contractors All Risks School combined Marine Asset Insurance Livestock Insurance

NEW PRODUCTS The Merchant Commercial Aviation Political Violence Bodasure Asset Merchant Marine

AMACO’s New Home

Partner with AMACO where we promise service beyond the obvious Our Promise Let us embrace strategic transformation in order to harness the future of Insurance. Partner with AMACO where we promise service beyond the obvious