Resolution Insurance has today re-affirmed its commitment to expanding its branch network in a bid to avail its services to more customers by opening a regional branch in Thika, Kiambu County.
The Resolution Insurance 10th branch will be housed at Zuri Centre, 5th Floor, Kenyatta Highway in Thika town.
The expansion is part of the firm’s growth strategy that is hinged on growing its footprint across all the counties in the country. It also supports efforts to enhance penetration while providing affordable insurance products.
Speaking during the opening ceremony Resolution Insurance Managing Director, Alice Mwai noted that the insurer is currently developing new products to meet insurance customers’ tastes that have changed over the years.
“The opening of the Thika branch, will see more Kenyans access our insurance products and solutions at an affordable price tailor made to suit their needs,” she added.
The insurance sector in Kenya experiences low penetration of about 3 percent of the Gross Domestic Product (GDP) but has opportunities for growth given the uptake of policies by the expanding middle class and increased public education.
“We have a total of 49 insurance firms, which equates to about 1.1 insurance company for every one million Kenyans – a similar ratio to Kenya’s banking sector. However, penetration still remains lower than the average of 3.8 percent in Africa,” she added.
Resolution Insurance offers a number of products namely Medical Plans, Travel Plans, Liability Plans, Property Covers, Motor Covers and all other classes of General Insurance.
The insurer offers products that resonate with the market namely medical plans, liability plans, travel plans and asset covers. By end of this year the company targets to hit the 100,000 mark in the growth of customer base.