Analysis maps Kenyan insurance sector for pan-African firm
Genesis was retained by a pan-African insurance company operating in Kenya to conduct a competitor and market intelligence exercise. This engagement followed on from a strategy refresh exercise that Genesis facilitated for the same company a year earlier.
The project team looked at competitor strategies that have worked in the long- and short-term insurance markets across product, channel and customer segments. The team analysed market shares, gross written premiums and profitability across competitors to understand key business performance drivers in the industry.
Also undertaken was a detailed analysis of sales and premium collections by channels and the trends in the level of intermediation.
The team conducted a detailed desktop review and data analysis to reach insights into the Kenyan insurance sector. The exercise included identifying growth opportunities, main competitors along service and product lines, and the position of the client within the market.
The output of the project was an analysis of five years of Kenya’s market and competitor landscape, emerging trends in the insurance sector, and recommendations on implications for the sector. A final presentation was made to the Board of the company to inform its future strategies.