1. “Embracing Strategic Transformation – Insights and Lessons.”

2. 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

3. 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.

4. 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

5. Visuals of insurance

6. Kenya Industry Indicators

7. Low Penetration

8. Low Growth Rates

9. Actual Growth Rate

10. Low Profitability

11. 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?

12. 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

13. Overcoming These Challenges Lies In Embracing Strategic Transformation

14. 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.

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

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

17. Strategic Transformation – AMACO

18. 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

19. 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

20. 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.

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

22. 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)

23. FIVE YEAR GWP PERFORMANCE

24. FIVE YEARS PROFITABILITY

25. THREE year BROKER CHANNEL PERFORMANCE

26. CLAIMS PAID

27. PSV …..
IS NOW

28. 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

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

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

32. AMACO’s New Home

33. 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