Amaco CEO Esther Mugure speaking during the breakfast engagement meeting with independent agents/Photo by Shadrack Nyakoe
By Shadrack Nyakoe
Amaco Insurance has intensified its push for grassroots expansion, placing independent agents at the centre of its growth strategy as the company eyes a Sh5 billion revenue target this year.
Speaking after a breakfast engagement meeting with independent agents, Amaco CEO Esther Mugure underscored the critical role intermediaries play in driving insurance penetration across the country.
“More than 90 per cent of our insurance business comes through intermediaries,” Mugure said. “And one of those intermediaries is the independent agents we had breakfast with this morning. Collaboration with them is not optional.”
She described the agents as the backbone of the insurer’s distribution network, noting that they command greater trust among customers than the underwriters behind the products.
“These are the people on the ground. Customers know them better than they know the underwriter behind the underwriter. So if you ask me how many agents I want — I want as many as possible. I cannot have enough,” she said.
Mugure added that the company is ready to invest heavily in expanding and strengthening its distribution channels. “Even if I can have all independent agents in Kenya supporting us, that would be my best thing ever. We are willing to invest as much as we can to increase our distribution channels — be it independent agents, brokers or bancassurance.”
The CEO also addressed rising cases of insurance fraud, terming it one of the sector’s biggest threats.
“We all know that fraud has really increased in the insurance sector. There are people working hard to harvest where they did not sow,” she said. “But we have investigators on the ground and we are working closely with the police and the DCI to ensure that claims that come to us are genuine.”
She stressed that tackling fraud is key to ensuring prompt settlement of legitimate claims.
“We are in the business of paying claims. If fraud overtakes, it strains our ability to pay genuine claims. Once we crack down on fraudulent ones, it becomes easier to honour genuine claims very fast.”
According to Mugure, Amaco paid Sh1.2 billion in claims in 2024 and Sh2 billion in 2025 — a move she said signals renewed commitment to rebuilding trust.
“Insurance is about trust. In 2025, we paid Sh2 billion in claims. That is not just a figure. It shows our commitment to keeping our promise — which is paying your claim. That’s why someone comes for insurance — so that when loss happens, we are there for them.”
Amaco currently operates 26 branches countrywide but says it is not keen on expanding its physical footprint.
“Twenty-six branches is a wide network. We are not looking at opening more branches. We are looking at revamping and strengthening them and going more digital,” Mugure said.
She noted that the company collaborates with agents in areas where it does not have branches, branding their offices and supporting them to boost visibility.
“If we have an agent in Machakos and we don’t have a branch there, we collaborate with that agent to ensure Amaco is visible in that region. So instead of opening new branches, we strengthen our partnerships.”
Head of Operations Richard Bett said the insurer has upgraded its ERP system to enhance efficiency and accessibility.
“We have improved our ERP system to the latest version with the objective of having an interactive platform that both customers and intermediaries can access,” Bett said.
He revealed that the company has created dedicated portals for agents, allowing them to transact directly with the core system without physically visiting offices.
“We are leveraging technology to ensure our services are available online. Intermediaries can now purchase products and transact through the system seamlessly.”
Head of Business Development Eric Mushoki emphasized that independent agents are key to driving insurance penetration, which remains below 3 per cent in Kenya.
“This partnership is really key in getting us known at the grassroots,” Mushoki said. “Independent agents understand the terrain, the clients and their needs at the point of contact.
He acknowledged that digital transformation has been one of the brand’s past challenges but said the company has made significant strides.
“The world is moving towards innovation. We have upgraded our portals and core systems to ensure we are visible and accessible across digital platforms.”
Mushoki said the presence of top leadership at the breakfast meeting was deliberate — aimed at restoring confidence among agents.
“Seeing the leadership interact with them and telling them we are back and ready to grow together builds confidence. That confidence flows from leadership to intermediaries and from intermediaries to the customer.”
Speaking after the engagement, Independent Agents Lead Ruth Wanjema said the meeting signalled a fresh chapter of collaboration.
“Today’s breakfast was more than a meeting — it was a reassurance,” Wanjema said. “As independent agents, we are the bridge between Amaco and the customer. When leadership openly commits to supporting us, investing in systems and paying claims promptly, it strengthens our confidence in the brand.”
She added that agents are ready to deepen their partnership with the insurer.
“We have agreed to work closely with Amaco to grow penetration across the counties. With the renewed focus on trust, technology and timely claims settlement, we are confident we can deliver value to our clients and grow the business together.”
With Sh3.8 billion recorded in 2025 and a Sh5 billion target set for the current year, Amaco’s leadership remains optimistic.
“Five billion is achievable,” Mugure said. “With collaboration as the backbone of excellence, and the support of our intermediaries, staff and clients, it is just a walk in the park.”
