Equity Life Assurance Kenya has won two major accolades at the 24th edition of the Association of Kenya Insurers (AKI) Awards, recognising excellence and innovation in the country’s insurance sector.
During the ceremony held on March 6 at the Carnivore Grounds in Nairobi, the insurer scooped the Best Loss Ratio Award and the Group Life Insurance Innovation Award under the Group Life Best Practice category. The company was also named first runner-up for Group Life Insurance Company of the Year.
The Best Loss Ratio Award recognises life insurers that demonstrate strong financial performance through effective risk management and efficient claims underwriting.
Equity Life Assurance, a subsidiary of Equity Group Holdings, was recognised for maintaining a strong loss ratio, reflecting prudent underwriting and sustainable profitability.
The insurer also earned praise for innovation in group life insurance, with the award highlighting companies that develop creative products and use technology to improve insurance access, efficiency and customer experience.
Speaking after receiving the awards, the company’s Deputy Managing Director Calvince Onduru said the recognition reflects the trust customers place in the insurer.
“These recognitions ultimately belong to our customers, whose trust inspires everything we do and motivates us to continuously improve how we serve them,” Onduru said.
He added that the company would continue investing in digital innovation to make insurance services more accessible and responsive to customers’ needs.
The Group Life Insurance Company of the Year category recognises overall excellence in corporate insurance, including prudent pricing, product innovation, portfolio growth and high customer service standards.
Insurance Commissioner and chief executive of the Insurance Regulatory Authority, Godfrey Kiptum, congratulated the winners and urged insurers to prioritise customer protection.
“As insurers, our responsibility is to ensure the policies we offer truly protect customers and shield them against losses when they need support the most,” Kiptum said.
Tom Gitogo, chairman of the AKI board, said the industry must continue placing customers at the centre of service delivery while embracing digital transformation to strengthen the insurance ecosystem.
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