Jubilee Life Insurance has cemented its industry leadership, earning multiple accolades at the 2024 Association of Kenya Insurers (AKI) Awards in recognition of its commitment to expanding insurance coverage and enhancing service delivery.

The company was named First Runners-Up in both the Highest Growth in Policies Sold and Most Improved New Business categories, underscoring its efforts to make life insurance more accessible and strengthen financial protection for policyholders.

Further affirming its reputation for innovation, Jubilee Life also secured the Second Runners-Up spot in the Most Innovative Product category, a testament to its ongoing investment in cutting-edge solutions that cater to evolving customer needs.

Jayshree Haria, a Jubilee Life super-Agent, achieved a fifth consecutive win for 100 percent persistency, a recognition that underscores consistent policy retention and client commitment.

Alongside this achievement, Jubilee Life Insurance has seen steady growth in its qualifiers, increasing from 54 in 2022 to 110 in 2024, reflecting ongoing progress in distribution and advisor engagement.

The Association of Kenya Insurers (AKI) plays a critical role in fostering industry growth by recognizing excellence and encouraging innovation through platforms like the AKI Awards. As the sector moves forward, collaboration between insurers, regulators, and stakeholders will be essential in shaping a more inclusive and resilient insurance landscape.

Commenting on the achievements, Jubilee Life Insurance CEO Asman Mugambi stated that the recognitions reflected the team's and its partners' dedication to making life insurance accessible and reliable.

“As we look ahead, our focus remains on innovation, strengthening customer trust, and ensuring that every policyholder benefits from solutions that truly matter in their financial journey,” he said.

In hindsight, the life insurance sector in Kenya continues to evolve, driven by shifting consumer needs, regulatory developments, and advancements in digital solutions. As more individuals and businesses recognize the importance of financial security, the industry is seeing increased adoption of tailored products that address diverse life stages and economic realities.

On his part, AKI Chairperson Mr. Nixon Shigoli highlighted the ongoing transformation in the insurance industry, driven by technological advancements, AI integration, automation, and the rise of insurtechs, signaling a dynamic future for the sector.

He also recognised the growing impact of women in the industry, emphasizing their leadership in insurance sales. "It is clear that women in insurance sales are already leading the way. Out of 1,083 qualifiers, an impressive 66 percent were women," said Mr. Shigoli, underscoring the sector’s evolving landscape and the increasing role of women in driving growth and innovation.

However, challenges such as low insurance penetration and financial literacy gaps remain, requiring ongoing efforts from industry players to build trust, enhance accessibility, and improve customer education.