answer all 3


In a recent report you presented to your boss, it read in part: “Life business recorded a faster a growth of 27.4 per cent to Sh41 billion than general insurance’s 17 per cent to Sh78.7 billion in 2014. The growth is faster than that recorded 2013 when the life business grew by 16.6 per cent and the general by 20.2 per cent”. Explain the benefits of life insurance to your boss. ( 10 marks)


With relevant illustrations explain the various classifications of life insurance policies according to duration. ( 4 marks)

Kenya’s insurance industry is going through a time of excitement and frustration. New products are launched; partnerships forged and flexible technology tools are the norm. Describe the main challenges facing the industry a bid to remain key player financial sector in Kenya. ( 6 marks)


Data from Insurance Regulatory Authority (IRA) showed that a total of Sh444 million was reported under micro-insurance class of business in September 2014 compared to Sh202.54 million collected. September 2013. Discuss the factors that have led to increasing uptake of micro-insurance products in Kenya. Highlight the micro-insurance delivery models in Kenya. (10 marks)