{"id":619,"date":"2016-02-15T12:18:00","date_gmt":"2016-02-15T12:18:00","guid":{"rendered":"https:\/\/hogi.edu.bi\/cibco%20insurance\/?p=619"},"modified":"2024-07-18T12:32:30","modified_gmt":"2024-07-18T12:32:30","slug":"kenya-insurance-brokers-protest-market-share-loss-to-banks","status":"publish","type":"post","link":"https:\/\/www.cibcoinsurances.com\/index.php\/2016\/02\/15\/kenya-insurance-brokers-protest-market-share-loss-to-banks\/","title":{"rendered":"Kenya: Insurance Brokers Protest Market Share Loss to Banks"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"316\" height=\"159\" src=\"https:\/\/www.cibcoinsurances.com\/wp-content\/uploads\/2024\/07\/kenya.jpg\" alt=\"\" class=\"wp-image-620\" srcset=\"https:\/\/www.cibcoinsurances.com\/wp-content\/uploads\/2024\/07\/kenya.jpg 316w, https:\/\/www.cibcoinsurances.com\/wp-content\/uploads\/2024\/07\/kenya-300x151.jpg 300w\" sizes=\"(max-width: 316px) 100vw, 316px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Insurance brokers Friday&nbsp; called on the government to save them from banks as bancassurance eats into their market share.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Association of Insurance Brokers of Kenya(AIBK) chairman Mr Muchemi Ndung&rsquo;u said they had officially protested to the Commissioner of Insurance and to the Insurance Regulatory Authority(IRA) urging them to intervene and stop the haemorrhage.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00ab\u00a0Bancassurance is cannibalizing us into oblivion and this must stop since they lack trained staff to handle clients as we have done over the years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Competition is healthy but it has to be regulated as what the banks are doing is not enhancing penetration but disrupting the insurance brokerage business,\u00a0\u00bb said Mr Ndung&rsquo;u.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Speaking in Nairobi during a breakfast meeting, the AIBK boss said Kenya must also urgently look into the rising number of medical cases referred to India as local doctors were pocketing upto Sh100,000 per referral.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is depleting families&rsquo;s resources as well adversely affecting the country&rsquo;s economy as more patients were being referred to Indian hospitals unnecessarily to undergo surgical procedures that could be handled locally at a much cheaper cost.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mr Ndung&rsquo;u said that AIBK&rsquo;s Sh3 million was still held at Imperial Bank and urged his board to pursue the matter to have the money released to fund the association&rsquo;s programme.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEhHvLONGYZO1nQeNF0qEqbLRG8CYHjQONCETL1bR2HX_tV4OzhTKu-dslXKXp4nHyHC4GaoLZ9VTsdK_KVFfMwy5kFkPyx_pxzL5T08JiDZeq6syD_cwUPPJXlIIpfODryacpEKuUMorjW-\/s1600\/kenya.jpg\"><br><\/a> By James Kariuki<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">29 January 2016 The Nation<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insurance brokers Friday&nbsp; called on the government to save them from banks as bancassurance eats into their market share. Association of Insurance Brokers of Kenya(AIBK) chairman Mr Muchemi Ndung&rsquo;u said they had officially protested to the Commissioner of Insurance and to the Insurance Regulatory Authority(IRA) urging them to intervene and stop the haemorrhage. \u00ab\u00a0Bancassurance is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infos"],"_links":{"self":[{"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/posts\/619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/comments?post=619"}],"version-history":[{"count":0,"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/posts\/619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/media\/621"}],"wp:attachment":[{"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/media?parent=619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/categories?post=619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cibcoinsurances.com\/index.php\/wp-json\/wp\/v2\/tags?post=619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}