This archive report was first published on 30 September 2019.
Kenya's travel insurance sector is poised for sustained growth over the next two years, with a significant increase in the number of Kenyans purchasing travel insurance before embarking on international trips.
According to Kenindia General Manager, Mr. Valiveti Kumar, the rising threats in countries Kenyans travel to, extreme weather conditions, and medical tourism have contributed to the surge in travel insurance sign-ups.
"Our customers have come to appreciate that the financial risks involved in a travel mishap outweigh the small cost of getting a travel insurance cover," Mr. Kumar explained, citing the example of a traveler who becomes ill while abroad and finds that their health insurance does not cover the country or area they are visiting.
Mr. Kumar noted that travel insurance can cover or reimburse customers for unforeseen events occurring before or during their trip, with prices ranging from 1% to 12% of the total trip cost.
"We look at the overall trip, the type of coverage needed, the age of the traveler, the travel destination, the length of stay, and any pre-existing conditions," Mr. Kumar said, adding that travelers can select the type of cover they desire based on their personal circumstances and situations.
Kenindia offers five types of travel insurance, including premium, business, Schengen, Worldwide excluding USA and Canada, and Worldwide including USA and Canada, with an upper limit of up to Kshs 20 million.
The cover provides protection for travelers, their personal belongings, and non-refundable trip costs, including loss of checked baggage, delay of checked baggage, loss of passport, personal liability, travel delay, and hijack.
Additionally, the cover offers medical expenses for sudden and unexpected illnesses or accidents while traveling outside Kenya, including personal accident coverage for death or permanent disability and repatriation coverage for the insured.
Mr. Kumar emphasized that, like any insurance policy, travel insurance in Kenya may have exclusions, including loss or theft of baggage or cash left unattended, self-inflicted injuries, acts of civil unrest, and pre-existing medical conditions.
