East Africa Insurance Firms cling onto Old business. Shun data technologies – Report.

Insurance Companies across East Africa are yet to fully embrace the benefits of digitization that include use of big data to optimize their businesses even as they record low return on equity report says.

The report by Deloitte East Africa indicates that in Kenya, the returns on equity have been on the downward trend despite a rising growth in gross premiums. Experts advised that Insurers in East Africa need to look at ways of remaining relevant in the competitive scene while improving their operational efficiency using technology.

According to Charles Luo of Deloitte “Data is growing at a fast rate and Insurance companies need to be prepared to take advantage of it.

@almondfinance

Leave a Reply

Your email address will not be published. Required fields are marked *