7th African Insurance Awards

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7th African Insurance Awards
7th African Insurance Awards

7th African Insurance Awards

On Tuesday, 28th June 2022, the 7th African insurance awards will be held at the Kenyatta International Conference Centre (KICC), Nairobi, Kenya. The ceremony which has been organized by the African Reinsurance Corporation. It seeks to celebrate the performance, innovation, leadership, and best practices in the development of the insurance industry on the  African continent.

Companies and leaders who have raised exceptional standards of competence. Also, achievement and an unprecedented demonstration of leadership are honored.

HISTORY

The African insurance awards were started in 2015 and have been held annually to gather Giants of the insurance industry in Africa. This aim is to reward and celebrate their excellent performance and innovations. Winners are usually awarded cash prizes, plaques, and certificates.

CATEGORIES FOR THE INSURANCE AWARD

To begin with, Insurance Company of the Year:

This category is open to all insurance companies that have been registered in Africa. The criteria for this award are based on the performance of the company in the past two years. Also, insurance companies have excellent customer service and provide high-quality service across their activities.

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Again, there should be a proven record of success and that will be measured in terms of the profit expansion, whether it is an existing market or a new market.

Secondly, CEO OF the Year

This award is given to a CEO who has made remarkable contributions in the past year. It should have led to the progress of their organization or the insurance industry. The winner of this award should have closed a successful merger or have had stakeholder engagements that have led to a notable change in the insurance industry.

Also, INNOVATION OF THE YEAR

This award is given to insurance companies that have made good use of technology and have launched a breakthrough product or service. The company should have an innovative distributing channel and also there should be a way of generating profitable business in response to a digital shift.

Another is INSURTECH INITIATIVE OF THE YEAR

This award is targeted at aspiring entrepreneurs.  Entrepreneurs will be given the opportunity to receive guidance, expertise, aa well as professional networks essential to building global, market-leading companies.

ELIGIBILITY CRITERIA

  • Entries must come from insurance companies that are based in Africa.
  • Entries must be technology-driven and applied to insurance/reinsurance.
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PROCESS FOR SELECTION

  • Firstly, there will be an initial screen by an independent committee for entries made in each category
  • Secondly, shortlisting of nominees
  • Followed by a group of judges scoring the nominees based on the criteria.
  • Afterward, the evaluation and the declaration of results
  • Finally, screening and a declaration of a winner is announced

ELIGIBILITY CRITERIA

  • Entries must come from insurance companies that are based in Africa.
  • Entries must be technology-driven and applied to insurance/reinsurance.

PROCESS FOR SELECTION

  • There will be an initial screen by an independent committee for entries made in each category
  • The next stage is shortlisting of nominees
  • Followed by a group of judges scoring the nominees based on the criteria.
  • Then there will be evaluated and the results declared
  • There is a final screening and a declaration of a winner is announced

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