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What factors help to determine the growth of insurance industry in Kenya?
Wiki User
∙ 11y ago
The factors are:
- Lack of the people's trust in the industry.
- It is a young industry and the people are not accustomed to paying premiums to alleviate risks.
- Mismanagement and incompetent management of the insurance companies.
- Laws set by Parliament failed to meet the unique needs of the third world market.
- Dishonesty by the public and lack of a big pool of customers.
- Lack of proper research for decision making.
Wiki User
∙ 11y ago
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