Insurance - A common innovation fund in Kenya

Jubilee Insurance has suggested to the market regulator the creation of a common innovation fund. The proposal, which has been approved by the entire Kenyan insurers, aims to put together the annual research and development budgets of all companies. The fund will, thus, enable the creation and testing of new insurance products that are tailored to the needs of customers.

Julius Kipngetich, chief executive, believes the innovation fund will provide insurers with the tools allowing them to grow.