Speaking during its Annual General Meeting (AGM), Chairman of the Board of Directors, Mr. Nizar Juma, Jubilee Holdings Limited said the firm will invest in technology to be a leader in online insurance selling and to reach more customers in the region.
“In 2016, we will make further strategic investments in technology including integrating a financial system which will not only efficiently support online, real-time transactions, but will also help us to be a leader in online insurance selling. Leveraging Technology will also help us lessen the ever increasing incidence of fraud in all our businesses,” said Mr. Juma.
The firm which last year launched online services allowing users to search for policies, get qoutes and pay for them online says it aims to emphasize and invest more into its online services to reinforce its hold on the regions insurance market.
Through both online and offline channels, Jubilee Holdings achieved a turnover of Ksh 30.16 Billion and total insurance results grew by 25% to Ksh 1.72 Billion. The insurer also increased its pre-tax profits by Ksh 196 million to Kshs. 4.145 billion, which is the highest in the insurance industry. Jubilee’s share price appreciated by 8 percent in the 2015 financial year.
The Jubilee Group declared a final dividend of Ksh 7.50 for a combined interim and final dividend of Ksh 8.50 per share. Jubilee Insurance has over 1,100,000 clients with a network of offices spanning Kenya, Uganda, Tanzania, Burundi and Mauritius.