How Is Car Insurance Distributed In Kenya?

A survey conducted by InsureAfrika targeted the Kenyan market to take into consideration the channels preferred by the buyers to purchase Car Insurance in Kenya 2017. The info-graphic given below is compilation of the stats from the survey; showcasing different preferences and parameters influencing it for buying Car Insurance Kenya. It is sub-divided into four major sections that are described below:

Current Channel Used for Buying

A buyer prefers the following mediums to purchase car insurance in Kenya:

  • Agent/Broker
  • Directly through Insurance Companies
  • Online

With maximum percentage of 54% people relying on agents to purchase the policy.

 

Future Channel Preferences

It is likely that in the near future, car insurance buyers in Kenya would set the preference trends in the following manner:

  • Directly from the companies – 62%
  • Insurance Agents – 25%
  • Online – 23%

 

Traditional Purchasing Attitude

The below mentioned statistics reveal the buying behavior of the customer and the factors that tend to incline them towards purchasing car insurance in Kenya from insurance agents and companies:

  • 70% agree it is easy to purchase from Insurance Agents and companies.
  • 68% prefer agents and companies over other options because of quick service and/or good relationship terms.
  • 66% experienced great customer service.
  • 40% believe they have the ability to bargain using this approach.

 

E-Commerce Purchasing Attitudes

The following statistics suggest the attitude of buyers towards online purchase of car insurance in Kenya:

  • 63% are most likely to choose online services for buying their policy.
  • 46% of the people may sometimes rely on online car insurance quotes.
  • 60% were against comparing car insurance quotes online.
  • 62% voted for MPESA as the best online payment method.
  • 36% were neutral about their views regarding trusting online shopping in Kenya.
  • 56% were neutral about purchasing car insurance.

Car insurance distribution kenya

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