|AAR UNVEILS INSURANCE COMPANY|
|Written by Rose Muthami|
|Friday, 09 November 2012 06:55|
AAR Health Services Kenya, a business arm under AAR holdings, has scaled up its operations by becoming a fully-fledged insurance company operating under the name AAR Insurance Kenya Limited.
The insurance company which will offer both medical and non-medical products will leverage on the country’s Small and Medium Enterprises (SMEs) and the growing consumer middle class to increase its market share by 20% in the next one year.
Speaking during the launch ceremony, AAR Group CEO, Mr. Jagi Gakunju confirmed that the country’s growing consumer class and the rising levels on insurance awareness are critical factors that will positively drive market penetration of insurance products in the country.
“Our business direction is guided by the region’s huge population base and a large untapped market which presents an opportunity for us to explore” said Mr. Gakunju.
“There are large untapped areas which have not benefitted from the upside of insurance. It is these areas that we will focus on in our distribution network as we strive to bring more individuals within the insurance space.” He concluded.
AAR Insurance Kenya Limited will provide tailor-made solutions for different market segments with a wide variety of products like Medical, Work Injury Benefit Act (WIBA), Domestic Packages, Personal Accident and Professional Indemnity for Doctors including others.
As part of its growth strategy in an effort to drive penetration, the company is diversifying its distribution channels to include brokers, banks and E-channels.
The company has also invested in a new IT business system that will assure integrity and a better analysis of data ultimately translating to faster processing of claims.
AAR’s insurance business is anchored on the company’s knowledge and understanding of people - based on its healthcare experience over the years.
The company has also upgraded its twelve branches across the country to fully fledged insurance branch status and plans are underway to open more in the coming months.