Madison Insurance Company Kenya Limited
Madison Insurance Company Kenya Limited (Madison) is a locally owned insurance company in Kenya. It was incorporated under Kenyan Laws in 1988 after a successful merger between Crusader Plc (1974) and Kenya Commercial Insurance Corporation. Madison Insurance Company Kenya Limited is one of the leading names in the insurance industry offering both Life and General Insurance products. Madison has its Head-office in Nairobi with twenty three branches in all the principal towns in Kenya. The branches fall under four Regional Offices namely, Nairobi Region, Western Region, Coast Region and Central Region.
Despite the severe economic environment and intense competition in the industry over the years, Madison Insurance Company Kenya Limited has continued to grow to achieve a combined premium income of over 2 billion by 31st December 2012. The main objectives for Madison Insurance Company Kenya Limited are to provide the best insurance products at the most reasonable prices and to offer unparalleled customer service to our customers. Madison Insurance Company Kenya Limited investment strategy focuses on attaining superior long term yields on investment through a well diversified spread of assets. Our asset base is currently 5.1 billion, and we are growing further by developing a larger investment portfolio.
Madison Insurance Company Kenya Limited Focus
Corporate Governance
The Madison Insurance Company limited board of directors is responsible for the overall direction of the company’s corporate governance policies and are accountable to the shareholders in ensuring compliance with the law and the highest standards business ethics.
The directors are committed to conducting business in accordance with the generally accepted corporate practice and endorse the internationally developed principles of good corporate governance.
Human Resource
Our strength is our people. In view of this, we are very keen on ensuring that we get the right people for the right roles in the organization. We achieve this by putting in place policies that attract, develop, retain and motivate quality staff.
We also provide a safe and conducive work environment that enables all employees meet the business objectives set forth. Professionalism, Urgent action and Integrity are key values amongst our staff creating a performance ethic that ensures every task and service is friendly, proficient and quick for the benefit of our customers.
Customer Service
At Madison Insurance Company Kenya Limited, the customer comes first. Its aim is to deliver a consistently high standard of customer care to all our customers and provide an excellent human experience in all areas of service. Madison Insurance Company Kenya Limited is committed to providing customer satisfaction which is unmatched in the industry. Madison Insurance Company Kenya Limited process for providing excellent customer service includes establishing operational procedures and internal infrastructure that support customer service, continuously measuring customer and employee satisfaction, embracing change, and striving persistently to improve.
Information & Communication Technology (ICT)
Improving service delivery to our customers and efficiency has been the key driver of Madison’s business strategy. At Madison Insurance Company Kenya Limited, leverage on emerging and existing technologies to support this strategy through continuous improvement of Information Communication Systems.
Madison Insurance Company Kenya Limited have invested heavily in modernized ICT Systems with a branch network of 21 branches interlinked through a secure Wide Area Network (WAN) integrated with Voice Over Internet Protocol (VOIP) facility. Additionally, it has integrated our systems with online service portals, which facilitate convenient and interactive communication with our clients. Through the website, the customers can access their policy statements, submit claims, chat with us, pay premiums, submit enquiries, and obtain online quotations and access prime information regarding their policies.
Madison Insurance Logo
Corporate Social Responsibility
Madison Insurance Company Kenya Limited endeavors to be a good corporate citizen. We are always looking for ways to positively engage with the community in which we do business.
Madison Insurance Company Kenya Limited Contacts
Madison Insurance House
Upper Hill Close,
Address:P.O. Box 47382 – 00100, Nairobi
Tel: 020-2864 000, Cell: 0709 922 000,
SMS 20286
Email: madison@madison.co.ke
Emergency help lines:
0723 – 972 489
0702 – 094 003
0702 – 094 029
Email pre-authorisation address: Caremanagement@madison.co.ke
Website: www.madison.co.ke/
Madison Insurance Photo
Madison Insurance Company News
Madison Insurance now launches university education financing plan
Updated On: 14th February 2017
Source: www.businessdailyafrica.com
Madison insurance has launched a new long -term financing plan that will cover the cost of accommodation and learning materials for students in tertiary institutions.
The premiums on the life assurance product dubbed Madison UniPlan will be pegged on the projected cost of the preferred degree programme.
The cost of tuition in university ranges between Sh500,000 for arts degrees to Sh2.3 million for a medical degree, meaning that most parents are either forced to rely on the Higher Education Loans Board (Helb) to pay for their children’s education or occasionally organise fund raising drives to see their children through school.
This cost excludes conservative monthly living expenses of between Sh20,000 and Sh25,000, which can translate to a total cost over Sh1 million for a four-year course.
“The plan has been structured such that the tuition fee is a compulsory benefit while the other costs are optional add-ons. This will allow the parent or guardian to choose the benefits that best reflect their personal circumstances,” said Madison Group chief executive Joshua Njiru.
“As an additional benefit, the child covered will receive free personal accident and local travel insurance cover within the duration of study.”
He said that the plan is expected to pay a return of between five and seven per cent per annum, with parents required to save a minimum of Sh7,500 per month.
Enrolment
“The minimum duration for saving through the plan will be five years, and the maximum period is 15 years,” said Mr Njiru.
The cover will also be available for those studying in technical and vocational education training Institutions (Tvet) institutions.
In last year’s KCSE examinations, about 88,000 students qualified to join university, majority of them headed to public institutions.
The total enrolment of university students in Kenya is about 500,000, out of whom 200,000 have access to Helb financing per year.