Innovation Is The Future Of Insurance

Join Cio East Africa at a webinar to digitize the insurance industry on 19th May 2020 at 3 PM EAT


Join CIO East Africa, on the 19th May 2020, at 3.00 PM EAT for a webinar to deliberate on ‘The Future of Insurance in the Face of Digital Transformation’.

As experts note, the insurance sector has had its fair share of wins and losses in the recent years due to low insurance penetration and fraud, and now facing its hardest blow yet – the novel coronavirus.

Speaking at the free high-level CIO Webinar will be Elias Omondi, an Actuarial Expert with the Insurance Regulatory Authority Kenya (IRA) and Julius Orayo the Group Head of Digital Innovation at Jubilee Insurance.

Elias, an innovator with a strong passion for Artificial Intelligence, blockchain, quantum computing, and data science, specializes in index insurance and microinsurance projects in sub-Saharan Africa where he deals with particular technical areas such as Weather Index Insurance in support of vulnerable communities. He believes in healthy financial markets for building the foundations of a thriving economy to support the SDGs.

His counterpart, Julius Orayo, has over 15 years of experience in Strategic Operations, Information Technology, and Project Management. He has served as the Regional Head of the Customer Services Group and the Operations Manager for Medical Business for Jubilee Holdings and previously as the Head of IT and Operations at Amini Management (EA) Ltd, Prosperity Health (Tanzania) and Lantech Limited.

After experiencing an underwriting loss of Ksh1.65 billion in 2018, making the biggest loss experienced in the past 10 years in what was termed as ‘the business of losses’, the industry is now ripe to make faster strides towards innovating the best practices to salvage the industry.

“Creative and practical strategies will help more insurance companies improve profitability and better manage expenses,” said Peter Nduati, CEO Resolution Insurance.innovating

Product innovation was singled out as a key factor to drive growth and customer-centric products and to help drive sales thus increasing insurance penetration in the nation.

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