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Xplico Insurance Underwring Africa

Company Profile

Xplico Insurance Limited | Company Profile 2013


Xplico Insurance

Company Profile

About Us We are a specialist insurance company set up to both compevely underwrite exisng risks in the market as well as new risks currently not being underwrien.


We provide insurance soluons to individuals and businesses including the SME sector and larger corporates in both Kenya and the wider East African region. We challenge convenon in our specialist areas to offer market leading products and services to our clients including areas of micro-health, sports, travel, aviaon, marine, trade & credit and structured finance.


Internaonal | Specialist | Innovave | Ethical


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


To 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. Xplico Insurance Limited | Company Profile 2013



Company Philosophy

Africaâ&#x20AC;&#x2122;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.

Xplico Insurance Limited | Company Profile 2013




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

Xplico Insurance Limited | Company Profile 2013



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.



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.

Xplico Insurance Limited | Company Profile 2013


>> Board of Directors LEE WARUINGI

Chairman Mr. 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.


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 BEEKMEYER Executive 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. 12


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.


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. KAROKI

General 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 allrounded chartered insurance practitioner, both as an underwriter and as a broker. Mr. Karokiâ&#x20AC;&#x2122;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.


General 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.


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 Guchu

Head 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.

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 Anyota

Risk 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 Khiroya

Aviation 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

Technical Services Co-ordinator Mr Khiroya has over 23 yearsâ&#x20AC;&#x2122; 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 ManagerOperations . 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.

Benson Chege

Wicleys Ndonga

Simon-James Smith

Underwriting & 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

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 . Xplico Insurance Limited | Company Profile 2013 13



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

Xplico Insurance Limited | Company Profile 2013




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 nongovernment 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

Scope of Cover

• Cost of service

• General illnesses

• Risks

• Personal Risks

• Reinsurance treaties

• P  re-existing conditions/chronic conditions including HIV/AIDS

• Age

Xplico Insurance Limited | Company Profile 2013





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 Lloydâ&#x20AC;&#x2122;s aviation insurance market.

Xplico Insurance Limited | Company Profile 2013




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 businessâ&#x20AC;&#x2122;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. Xplicoâ&#x20AC;&#x2122;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.

Xplico Insurance Limited | Company Profile 2013




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 Xplico Insurance Limited | Company Profile 2013




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

Xplico Insurance Limited | Company Profile 2013


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

OUR VALUE PROPOSAL We 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

Xplico Insurance Limited

Branch Network and Contact Informaon Head Office

Park Place, 5th Floor, Limuru Road P.O. Box 38106-00623, Nairobi, Kenya. Tel: 020-3642000 Mobile: 0700-111999 Email: Website:

Njengi Branch

Njengi House, Tom Mboya Street, 7th Floor Tel: 020- 2223874 Fax: 020-2223875

Development House

Moi Avenue / Tom Mboya Street 4th Floor Tel: 020-316001/2 Fax: 020 316003


Ereto Plaza 4th Floor Tel: 051-2210652


Pushpa Building 3rd Floor, Kwame Nkrumah Rd Mobile: 0755666637/8


Imperial Court, Mezzanine Wing A P.O. Box 9024-30100, Eldoret Tel: 053-2033090


Edfri House 2nd Floor P.O. Box 2845-60200, Meru Tel: 020-31777/ 555


Mombasa Trade Centre Tel: 041-2220632/4


Tuskyâ&#x20AC;&#x2122;s Mega Mall, 2nd Floor Mobile: 0755-666604

Xplico Insurance Limited | Company Profile 2013


<< Underwring Africa Xplico Insurance Company Limited P.O. Box 38106-00623 Nairobi, Kenya. Park Place, 2nd Avenue Parklands, Off Limuru Road, Nairobi, Kenya. Tel: Cell: Email: Website:


+254 020 364 2000 +254 700 111 999

Xplico insurance Company Profile  
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