Residents of Kericho have been encouraged to participate in an ongoing Insurance Open Day held at Uhuru Gardens in Kericho Town, an event organized by the Insurance Regulatory Authority (IRA).
The regulatory body seeks to foster dialogue between government stakeholders, insurance industry players, and members of the public on the benefits of insurance and the critical role it plays in national development.
Speaking to Kenya News Agency at the launch of the event, Head of Corporate Communication at the IRA, Joan Ojenda, emphasized the importance of public engagement in understanding insurance services and making informed financial decisions. "Sometimes people end up signing policies that they do not understand and the purpose of us moving from county to county, down to the grassroots is because we need the people to understand that insurance is a good thing," Ojenda said Ojenda further acknowledged that misconceptions about insurance cover policies continue to hinder insurance uptake in the country and she highlighted the importance of outreach events in dispelling misinformation.
She pointed out that insurance uptake remains a global challenge, with penetration levels still relatively low, with only an insurance penetration rate of 3 percent in Kenya.
