By John Kariuki
Sedgwick Kenya Insurance Brokers Managing Director, Timothy Karong’a, has lauded the newly enacted Insurance Professionals Act as a transformative milestone that will redefine the future of Kenya’s insurance sector.
Speaking at the launch, Karong’a expressed his delight at finally seeing the industry elevated to a profession recognised on the same level as law, medicine, and accountancy. The Act, which was assented to by the President on June 17 and took effect on July 4, now ensures that only qualified and accredited practitioners can operate in the insurance space.
“This is a proud moment for us as professionals. For years, insurance agents were branded negatively, often seen as untrustworthy. With this Act, that image will change. We can now be recognised as professionals whose licences are renewed annually and backed by certification,” said Karong’a.
He explained that the Act will weed out untrained individuals who previously infiltrated the industry, leading to costly errors and mistrust from clients. “Insurance must be practised by those who understand its guiding principles. This law ensures that only professionals who have gone to school and understand the craft will serve clients,” he added.
Karong’a emphasised that the ripple effect will be increased credibility, renewed trust from buyers, and greater insurance penetration. Currently, insurance uptake in Kenya stands at a mere 3 percent, but he believes the Act will reverse this trend.
“With enhanced professionalism, clients will no longer stick only to mandatory covers. They will listen to us more, engage us confidently, and even take up additional products because they know they are dealing with professionals,” he noted.
Karong’a hailed the legislation as a game-changer that will not only grow the industry but also boost investor confidence, create new opportunities, and position insurance as a vital pillar of Kenya’s economic growth.
“This is a turning point. The future of insurance is brighter than ever before,” he concluded.