xplico insurance company profile

1 Xplico Insurance Limited | Company Profile 2013

Company Profile

Xplico InsuranceUnderwri�ng Africa

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Xplico InsuranceCompany Profile

About Us

We are a specialist insurance company set up to both compe��vely underwrite exis�ng risks in the market as well as new risks currently not being underwri�en.

We provide insurance solu�ons to individuals and businesses including the SME sector and larger corporates in both Kenya and the wider East African region.

We challenge conven�on in our specialist areas to offer market leading products and services to our clients including areas of micro-health, sports, travel, avia�on, marine, trade & credit and structured finance.

Interna�onal | Specialist | Innova�ve | Ethical

Xplico Insurance Limited | Company Profile 2013

VISIONTo provide innovative and ethical insurance solutions which create a positive and sustainable impact on the lives of our clients through out Africa and Beyond.

MISSION STATEMENTTo use the uniqueness of our industry experience in order to challenge the traditional parameters of the insurance industry; be forward thinking and progressive; to become the market leader in our sector for the 21st Century.

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COMPANY PHILOSOPHY >>


Company Philosophy

Africa’s insurance industry continues to be characterized by untapped markets and low

insurance penetration despite being a magnet for international investment.

Remarkable economic growth and individual knowledge of financial products available

has accelerated the demand for financial products and services. At Xplico, we have

responded by developing solutions to provide the security required for financial loss,

unpredictable risks and maintenance of health.

Unlike many other Kenyan insurance companies, we have a team of experienced

underwriters who have actively worked with both the Lloyds market and European

financial institutions. As a result of this, our insurance solutions are innovative,

affordable and relevant to the needs of Kenyans and the Kenyan economy.

Since information technology is at the core of our philosophy, Xplico is clearly setting the

benchmark in implementing business systems and processes to ensure that our clients

claims are settled in a timely and accurate manner.

Consistent clients satisfaction remains our priority and this is why we continue to invest

in our people and our processes. The Xplico culture remains one of ensuring a quality

personal service to both our private and corporate clients.

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CORPORATE GOVERNANCE >>


Corporate Governance

Xplico’s board of directors is responsible for the overall management of the company

and is accountable to its shareholders for ensuring that the company complies with the

highest standards of corporate governance and business ethics.

The directors are committed to conduct the business and the operations of the company

in accordance with the best corporate practice and endorse the international principles

of good corporate governance.

• Transparency

• Accountability

• Integrity and ethical behavior

• Statutory and legal compliance

• Protection of shareholder interest

• Objectivity and openness

CORPORATE SOCIAL RESPONSIBILITY >>

Corporate Social Responsibility (CSR)

A great Prime Minister once quoted:“Responsibility is the Price of Greatness”.

The above statement characterises Xplico’s belief and values in respect of CSR in our

operations and policies. We can write down statements indicative of our objective,

however, we choose to walk this journey through the eyes of the communities we

support and the lives we change, where our strength gives hope, and our innovation

gives way to a progress.

A majority of our efforts remain behind the scenes,but if you look a little closer our hand

print remains.

We believe that our people, who through their own quest for greatness contribute to

making this company truly great, are a reflection of our passionand zeal towards the

communities, partners, clients and investors we serve.

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REINSURANCE SECURITIES >>


Reinsurance Securities

The robust relationship Xplico has with its re-insurers is one of the foundation stones of

its success. We have the support of our reinsurers to underwrite not only conventional

insurance products but innovative products in new classes of business to Africa.

Our re-insurers include:

• Africa Re

• Kenya Re

• PTA (ZEP) Re

• Continental Re

All of our re-insurers are highly rated in terms of their financial strength and expertise.

Furthermore, the Company has in place treaties with the leading reinsurers in the

Lloyd’s market ensuring its net retentions and underwriting capacity is well protected.

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>> Board of Directors

LEE WARUINGIChairmanMr. Waruingi is a graduate of agricultural economics. He has worked in the agricultural finance sector for many years at Agricultural Finance Corporation. He is currently serving as the Chairman, Board of Directors of the Coffee Development Fund.

ANIL MAHAN Managing Director

Mr Mahan is a qualified barrister in England & Wales (UK); a lawyer in Washington, District of Columbia, U.S. and a member of the International Bar Association. His area of expertise includes M&A and restructuring. Mr Mahan has been responsible as Group Managing Director for overall operations and legal affairs of the companies and groups he has worked with including companies in insurance, Lloyd’s of London, financial services, and listed companies.

KEITH BEEKMEYERExecutive Director

Mr. Beekmeyer is a former director of McCall Group and the Deputy Chairman of Campion McCall Limited, Lloyd’s broker. As Chairman of a NASDAQ publicly-quoted company, he has extensive experience in corporate restructuring, captive management on the risk side as well as debt restructuring of listed companies. He also has extensive experience in mergers and acquisitions.

JITIN MEDIRATTA Non-Executive Director

Mr. Mediratta is a graduate of the University of Kent (UK) with an LL.B Hons. and holds a Post Graduate diploma in Legal Practice from the College of Law London, UK. He is a qualified Advocate of the High Court of Kenya and a member of the Law Society of Kenya. He has worked in several jurisdictions and has experience in corporate commercial law and in particular real estate law.

ISAAC NG’ANG’A Non-Executive Director

Mr. Ng’ang’a is a graduate of The University of Nairobi with both Bachelor Of Commerce and Master of Business Administration. He is a qualified accountant CPA(K) and a member of the Institute of Certified Public Accountants of Kenya and Certified Public Secretaries of Kenya CPS (K). He has vast experience in the insurance industry in insurance accounting spanning over 20 years.


>> Managers Profiles

STEPHEN W. KAROKIGeneral Manager Mr. Stephen Karoki holds a Bachelor Of Commerce, major in Insurance Option, from the University Of Nairobi and an advanced Diploma in Chartered Insurance Institute (ACII) from London. He is an all-rounded chartered insurance practitioner, both as an underwriter and as a broker. Mr. Karoki’s over 25 years of experience and expertise in the insurance industry has seen him work in senior managerial positions in leading insurance companies including UAP Insurance, Madison Insurance, Family Insurance Brokers and Kenya Orient Insurance. Mr. Karoki is currently pursuing his Master of Business Administration at the University Of Nairobi.

JOHN WAWERUGeneral Manager Corporate Division John Waweru holds a Bachelor of Commerce (Insurance) from the University of Nairobi. He is a Finalist Certified Public Accountant and an Associate of the Chartered Insurance Institute (ACII) London. Over the years, John has excelled as an underwriter, reinsurance analyst and manager in leading insurance companies including the Kenyan Alliance Insurance, UAP Insurance, Jubilee Insurance and Madison Insurance Company. John is regarded as a highly skilled leader and administrator with unquestionable integrity. John brings to Xplico a wealth of experience in risk assessment, pricing determination, and a comprehensive understanding of policy terms and negotiation of reinsurance programs.

CECILIA RAGUE-KAISHA Head of Trade Credit and Structured Risks Division Cecilia Rague-Kaisha is the Head of Trade Credit and Structured Risks Division. Cecilia, is a lawyer by qualification commencing her career with Standard Chartered Bank and rose to Senior Credit Analyst. She has

worked at the African Trade Insurance Agency with key country responsibility for Rwanda, Burundi and Madagascar and as Product Manager for corporate and business banking at Commercial Bank of Africa, in charge of asset products. Cecilia rings to Xplico a wealth and breadth of experience in this emerging sector of the insurance market.

Dr. Kathryn GuchuHead of Specialist Channels Dr. Guchu holds a Masters in Public Health (Health Economics and Financing) from the University Of Liverpool and a post graduate diploma in Corporate Governance and Finance. With seven years of experience in the finance industry, clinical trials research and public health, Dr Guchu brings extensive knowledge in banking, micro finance and structured health financing to Xplico.

Simon-James SmithAviation Underwriter The Aviation portfolio is underwritten by Simon-James Smith who brings 25 years of Aviation experience to the Kenyan Insurance market. Simon has held prominent positions within the Lloyds of London Aviation Insurance market, both on the underwriting and broking side of the business including Assistant director with Marsh and as a Client Manager with AON

Benson ChegeUnderwriting & Schemes Manager Benson Chege holds a Bachelor of Commerce (insurance option) from the University Of Nairobi and has an advanced Diploma in Chartered Insurance Institute (ACII) from London. Benson has eight years of experience in the insurance industry. Prior to joining Xplico, he has worked as a specialist in technical underwriting and management in some of the leading insurance companies in the

region including UAP Insurance, Madison Insurance and UAP South Sudan Insurance. Benson has attended a number of international underwriting seminars and is currently pursuing his Masters in Business Administration at the University of Nairobi.

Kennedy AnyotaRisk Manager Mr. Anyota holds a Masters Degree in Commerce from Shivaji University, India. He has completed CPA Part II and currently pursuing Part III. With over 12 years of experience in insurance, Mr. Anyota is a lecturer at CGHU College/High School. He worked with Kenindia Assurance and also with Kenya Orient Insurance for 10 years prior to joining Xplico in 2012.

Satish KhiroyaTechnical Services Co-ordinator Mr Khiroya has over 23 years’ experience in the insurance industry with much of his career being with Ken-India including its Head Office, Eldoret and Nakuru branches. Mr Khiroya has held positions as both Branch Manager and Senior Manager-Operations . He has comprehensive knowledge in general underwriting , risk assessment, claims, broker relations, servicing and overall operational matters. He is regarded as an excellent administrator and brings a wealth of experience to Xplico.

Wicleys Ndonga Micro-Insurance Manager Mr. Ndonga is a former banker, having worked with the Standard Chartered Bank in various key managerial positions including Audit Manager, Retail Products Manager and Customer Services Manager . Mr. Ndonga brings a wealth of experience and knowledge to Xplico in micro-insurance products with a particular expertise in the medical sector having worked with some of the leading insurance companies in the region for 15 Years .

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XPLICO PRODUCTS >>>>


Xplico Products

Xplico takes pride in ensuring we have the right products to meet all our customers’

needs. We have a number of tailor made solutions for all circumstances and you can

choose to take up some or all of the components depending on your specific needs.

We challenge convention in our specialized areas to offer market leading products and

services tour customers.

Our General Products include:• Motor Private & Commercial

• Burglary Fire and Special Perils

• Business Interruption

• Professional Indemnity

• Workers Compensation / Employee Liability

• Fidelity Guarantee

• Marine

• Group Personal Accident

• Public Liability

Our Specialized Products & Services include:• Maisha Poa

• Aviation

• Trade and Credit

• Structured Finance

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Maisha Poa

MaishaPoa is a community-based health insurance policy designed with the health risks of Kenya’s low-income families in mind.

The middle and the lower class, who are more vulnerable to personal risks and illnesses because of their living conditions and working environments, have continued to lose lives as a result of lack of proper, timely and affordable medical care.

Passionate about pioneering affordable health insurance in Kenya and throughout Africa, Xplico Insurance Company provides a health cover affordable to all families with little disposable income.

MaishaPoa targets nearly 90 per cent of the uninsured Kenyans who find medical treatment expensive and are often forced to rely on congested public health centres and other alternatives including herbal medicine and witchdoctors.

We work with structured affinity groups, corporates, factories, SACCOs and non-government organisations (NGOs) to pool resources together to provide healthcare services to their employees in case of any health risks.

With minimal exclusions, the medical scheme covers the principal member and up to five members of their family, ideal for the country’s populated lower cadre.

Our health cover premiums range from as little as Shs. 30 per day depending with the plan. The insured can access a network of reputable private hospitals and clinics that we work with in different parts of the country for both inpatient and outpatient services.

Your employees don’t have to sell their assets or borrow money to afford treatment when life’s unpredictable moment strike anymore, a MaishaPoa plan will guarantee them medical care and catered funeral expenses in the unfortunate event of the death of those insured.

Most importantly, our MaishaPoa team of professionals with over 15 years’ experience in medical insurance is continuously innovating to find cost-effective approaches to providing affordable health insurance products that guarantee all policy holders timely and effective medical care.

Underwriting guidelines• Cost of service

• Risks

• Reinsurance treaties

• Age

Scope of Cover• General illnesses

• Personal Risks

• Pre-existing conditions/chronic conditions including HIV/AIDS

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Aviation

Kenya is the second biggest hub in respect to general aviation aircraft on the continent of Africa.

In 2013, Xplico will also be offering insurance to Kenyan aviation operations. Our research demonstrates that aviation insurance within the Kenyan Insurance market is not well developed since local insurance companies lack the capacity to cater for this specialist sector. The majority of aviation cover is placed by local retail brokers with international insurance companies outside Kenya by either dealing directly with London or via South African wholesale brokers.

While these limitations might act as logistical restrictions to growth, the aviation industry in Kenya has in fact been growing. The number of licensed aircraft has increased from 968 in 2009 to 1029 in 2011. The industry is likely to expand further due to increased trade between East African countries and the rest of the world; increased tourism and the expansion of Kenyan airport facilities. Furthermore, aircraft acquisition has also been made easier over recent years.

Xplico has recognised the importance for a local insurance company to offer insurance solutions by providing aviation hull and liability insurance to owners and operators of aircraft. It has therefore recruited a specialist general aviation underwriter who has 25 years of experience within the Lloyd’s aviation insurance market.

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XPLICO PRODUCTS >>


Trade Credit & Structured Risks

Unlike most insurances, trade credit and structured risk insurance provides protection mainly against financial loss. Financial loss arises due to a number of causes such as non-payment by buyers, delayed payment, unilateral cancellation of a contract or political related risk. This can have an impact on the cash flow of a business or indeed a business’s ability to meet day to day operations and loan repayments.

Beyond protection against losses, additional benefits include greater access to customers, trade, industry and country information enabling you to make more informed decisions with respect to your buyers.

Xplico’s robust credit insurance products should significantly reduce risk associated with your business and thereby reduce borrowing rates and collateral requirements from your bankers.

Xplico is the first commercial insurance company in Kenya to offer credit insurance to support local and international trade and investment.

Xplico believes that insurance is a key enabler of economic growth and credit is the fuel that oils the economy. Kenya is poised to achieve significant GDP growth in the years ahead and become a hub for regional economic growth.

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XPLICO PRODUCTS >>


Professional Indemnity (P.I.)

Xplico is committed to protecting businesses and professionals from legal liability for claims made by their clients for any acts of negligence, error, mistake, omission and malpractice when rendering services to Kenyans and the wider East African region.

Our policy is designed for anyone who provides professional advice and/or services to another person or business. We understand that the times when professional indemnity was a preserve of doctors, lawyers and architects are long gone.

Xplico is the leading insurance company in Kenya in underwriting health workers.

Professionals Covered• Health workers (doctors, nurses, pharmacists, clinical officers etc.)

• Lawyers

• Accountants

• Engineers

• Architects

• Estate and property agents/consultants

• Surveyors

• Computer consultants

• Business consultants

• Recruitment agents

Scope of Cover• Court fees

• Defence costs

• Court Judgment

Underwriting Guidelines• Completion of the Proposal Form

• Claims history

• Qualification(s)

• Professional Experience

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Corporate Products

Xplico’s exponential growth in retail underwriting over the past two years has seen the company set up a vibrant Corporate Division to cater for both SMEs and well established companies.

We go beyond simply providing insurance solutions that suit your business needs. We provide decisive financial solutions, cutting a niche in the corporate insurance. With a team of experienced local and international staff, the Corporate Division provides tailor made insurance policies created to protect your business and advise you of market trends and new products.

We work with a number of reputable insurance brokers, including AON and Alexander Forbes to ensure quality services for all our clients.

When working with corporates with their own risk management units, we collaborate in order to ascertain the most suitable cover available; with businesses that have issues based on significant debt burden and SMEs without established risk management departments, we advise you on your current insurance arrangements and recommend service providers that will assist in reviving your business.

Businesses covered• Financial Institutions-Banks, Insurance Companies & Stock Brokers

• Non-profit, non-governmental organisations

• Learning institutions

• Manufacturing firms

• Contractors

• Logistic Firms

• Real Estate Firms

Head OfficePark Place, 5th Floor, Limuru RoadP.O. Box 38106-00623, Nairobi, Kenya.Tel: 020-3642000 Mobile: 0700-111999Email: [email protected]: www.xplicoinsurance.co.ke Njengi BranchNjengi House, Tom Mboya Street, 7th FloorTel: 020- 2223874Fax: 020-2223875 Development HouseMoi Avenue / Tom Mboya Street4th FloorTel: 020-316001/2Fax: 020 316003 NakuruEreto Plaza 4th FloorTel: 051-2210652

ThikaPushpa Building 3rd Floor, Kwame Nkrumah RdMobile: 0755666637/8 EldoretImperial Court, Mezzanine Wing AP.O. Box 9024-30100, Eldoret Tel: 053-2033090 MeruEdfri House 2nd FloorP.O. Box 2845-60200, Meru Tel: 020-31777/ 555

MombasaMombasa Trade CentreTel: 041-2220632/4 KakamegaTusky’s Mega Mall, 2nd FloorMobile: 0755-666604

Xplico Insurance LimitedBranch Network and Contact Informa�on

CLIENT SERVICINGOur aim is to deliver a consistently high standard of client care to both our private and corporate clients.

OUR VALUE PROPOSALWe believe we have a compelling proposition for the market to include:

• A significant capital base and reinsurance support

• Capacity and expertise to underwrite risks previously not underwritten in Kenya including:

• Aviation

• Trade and Credit

• Structured Finance

• Energy Sector

• Streamlined underwriting and claims process

• Clear and consistent underwriting standards

• Enabling technology

• Attractive Broker/Agent partnership programmes


Head OfficePark Place, 5th Floor, Limuru RoadP.O. Box 38106-00623, Nairobi, Kenya.Tel: 020-3642000 Mobile: 0700-111999Email: [email protected]: www.xplicoinsurance.co.ke Njengi BranchNjengi House, Tom Mboya Street, 7th FloorTel: 020- 2223874Fax: 020-2223875 Development HouseMoi Avenue / Tom Mboya Street4th FloorTel: 020-316001/2Fax: 020 316003 NakuruEreto Plaza 4th FloorTel: 051-2210652

ThikaPushpa Building 3rd Floor, Kwame Nkrumah RdMobile: 0755666637/8 EldoretImperial Court, Mezzanine Wing AP.O. Box 9024-30100, Eldoret Tel: 053-2033090 MeruEdfri House 2nd FloorP.O. Box 2845-60200, Meru Tel: 020-31777/ 555

MombasaMombasa Trade CentreTel: 041-2220632/4 KakamegaTusky’s Mega Mall, 2nd FloorMobile: 0755-666604

Xplico Insurance LimitedBranch Network and Contact Informa�on

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Underwri�ng AfricaXplico Insurance Company LimitedP.O. Box 38106-00623 Nairobi, Kenya.Park Place, 2nd Avenue Parklands,Off Limuru Road, Nairobi, Kenya.

Tel: +254 020 364 2000Cell: +254 700 111 999Email: [email protected]: www.xplicoinsurance.co.ke

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