A REPORT ON INDUSTRIAL ATTACHMENT AT CORPORATIVE INSURANCE COMPANY

UNIVERSITY OF ELDORET
SCHOOL OF BUSINESS AND MANGEMENT SCIENCE

PRESENTED BY
KENNEDY OCHIENG` OBIERO
REG. NO: BBU/008/2011

September, 2014

CIC Insurance Group
Acknowledgement
This attachment was possible thanks to the cooperation and support of a number of people, who have enabled me gain much more than what the scholastic or industrial aspects of the program could have given. I am grateful to them all, and would like to express my appreciation to the following people:

Mr. Joel Ochieng`, my Industrial Attachment supervisor in CIC, for sharing enthusiastically with me his experiences in insurance. I am sincerely indebted to him for supporting and assisting me thus contributing to the success of this industrial attachment.

................., the school supervisor from the University of Eldoret, who has helped in coordinating with the administration stuffs and provide valuable assistance in my logbook and report writing.
I wish to thank the Almighty God for seeing me through all circumstances during the course of my study. Let his holy name be glorified. More thanks go to my group mates for their constructive criticism that enriched my way of thinking.

Table of content

Summary of the report

Life insurance is an important aspect of the social-economic development of the society. It helps to safeguard the future while also ensure some savings that can be used in a later date.
Despite its importance, the penetration of life insurance is currently only at 1.3% in Kenya. This is very low compared to the developed countries where life insurance penetration is quite high.

Life insurance in Kenya is regulated by Insurance Regulatory Authority. This is a statutory government agency established under the Insurance Act (Amendment) 2006, CAP 487 of the
Laws of Kenya to