Leading medical underwriter AAR Insurance, has announced the launch of a Sh150million reward program targeting agents with the best sales.
Dubbed ‘Simply the Best’ the year-long incentive program targets both its in-house and independent agents. The campaign, whose ultimate prize is a brand-new Mercedes Benz C200 will also feature multiple different awards including cash, laptops, tablets, ipads among other rewards.
Commenting on the incentive program at the, AAR Insurance Kenya General Manager, Nixon Shigoli said: “It is our hope that this program will help improve relations with our distribution channels and hence drive revenue especially in the SME Market which is one of our key target market segment for us in 2018,” He was speaking at an event held in Nairobi to celebrate and reward its top in-house, independent agents and brokers.
The event which bought together sales agents from across the country, saw a number of agents feted for outstanding performance in 2017. Virtual Consult Insurance agency of Nairobi bagged the overall agent of the year award. Other awards included: Business Development Manager of the Year, Relationship Manager of the Year Retail, Relationship Manager of the Year Corporate, Branch Manager of the Year, and Regional Sales Manager of the Year.
The new program is designed to support AAR Insurance’s business strategy and create daily intensity around improvements in customer service. The awards will be given on a monthly, half year and annual basis.
The company recently announced plans to set up two training centres in Mombasa and Kisumu for insurance agents. This is part of the underwriter’s ongoing plans to equip at least 1500 insurance agents nationwide with professional sales skills by 2019.
The training, which takes six months, is a welcome departure from current industry practice, where agents undergo short training courses for two weeks and are then deployed to the market. In Kenya, insurance is largely distributed through the agency model hence agents play a vital role in uptake of insurance products.
Mr. Shigoli noted that insurance agents not only sell policies, but also advise customers on insurance matters. He noted that deepening understanding of the benefits of insurance would help increase insurance penetration in the country, which is currently around three per cent. Insurance penetration is measured as total industry premiums as a percentage of GDP.