Kenbright – Insurance that creates wealth

In 2021, the World Bank identified that cybersecurity risk has evolved into a global threat that necessitates a coordinated and collaborative approach to risk management, all due to the ever-evolving digital space.

In response Kenbright partnered with a global insurer, Chubb, and a regional insurer, BRITAM. Through this collaboration, it launched a cyber-insurance product that provides risk management solutions to Small & Medium Enterprises (SMEs).

The key features of this cyber insurance product include pre-rated premium rates as well as other special coverages. This cyber solution also covers the recovery of the lost income that clients may face due to any cyber-attacks, as well as the expenses in regard to the recovery from a cyber-attack.

Over the last thirty years, Kenbright has evolved significantly with establishment of Kenbright Insurance Brokers Limited (KIBL) in 1993.The launch of Kenbright Healthcare Administrators Limited (KHAL) followed in the year 2005 to offer medical third party administration. KHAL is a fully licensed medical insurance provider (MIP) with over 20 years of expertise in the field of medical insurance.

Ten years later, Kenbright Actuarial and Financial Services (KAFS), a risk management advisory arm, was founded, and it became the second actuarial company in Africa to be accredited for the Quality Assurance Scheme (QAS) by the Institute and Faculty of Actuaries (UK).

In 2017, Kenbright launched a Health Savings Wallet, called the Mint Health Fund. This product which is a revolutionary health cover enables employers to provide affordable, high-quality outpatient, dental, and optical services as well as maternity benefits to their employees.

Kenbright Reinsurance Brokers Limited was then established in the year 2018, as a risk transfer business that provides clients access to international markets. It offers clients in the insurance industry specialist advisory and placement services.

Today, Kenbright stands tall, proudly providing the East African market a wide range of services, all the way from employee benefits provisions and risk transfer & mitigation to risk monitoring and framework development.

Because of the impact of its noteworthy product, the Mint Health Fund, Kenbright was recognized at the Quality Healthcare Kenya Awards in 2020 and awarded as the 1st runner up in the Award of Excellence in Response to COVID-19, as well as 1st runner up in the Healthcare Financing Innovation Category and 2nd runners up in the category of Use of Information Technology to Improve Patient Care.

Further, Kenbright has developed an award-winning digital insurance platform, which allows consumers to buy or renew their motor insurance through an aggregator platform in Kenya and Uganda. Subsequently, this service led to Kenbright getting recognized as the Most Innovative Insuretech Company in the year 2021 at the 5th Annual Digital Tech Excellence Awards in Kenya.

Kenbright also noted that while organizations in the East African market  are generally willing to implement risk management frameworks, these frameworks tend to operate outside the business, as opposed to integrated with the business systems to drive growth and profitability. Many businesses view risk management as a compliance issue. As a solution, Kenbright has partnered with global IT provider FIS Global, in order to bring top-notch, sophisticated risk management solutions to the East African Market. These solutions enable clients to track all their past and potential risks, as well as impacts on their working capital.

Kenbright takes pride in employing skilled risk management professionals to deliver its products and solutions. As actuaries, it encourages its employees to pursue specialist risk management certifications such as the internationally recognized Chartered Enterprise Risk Actuaries (CERA).

“Our actuaries have the ability to create financial models that consider both the asset and liability sides of the balance sheet which enables us to give clients useful measurements on the magnitude of potential risk within the Risk Management Framework,” says Paul Gondi, Chairman and Founder of Kenbright.

Kenbright’s vision is to expand into the East African market; with offices in Uganda, Tanzania, and Rwanda, and has plans to establish itself in the Democratic Republic of Congo, Zambia, and Ghana over the next five years. In collaboration with FIS Global, Kenbright also looks forward to developing climate risk management services.

Kenbright’s mission is to ultimately give clients in East Africa a one-stop-shop, quintessential solution for the risk management cycle, which includes identifying ,analyzing and measuring risk through Kenbright’s actuarial services.