.jpg)
When Eric Muchoki worked as a sales executive at AAR Insurance a decade ago, he got requests from satisfied clients to handle all their insurance needs. Eric Muchoki was a sales executive before starting his company. Why Eric Muchoki started Customized Solutions Insurance Agency Bridging the insurance gap What are the challenges in the insurance sector? Equity Group launches insurance wing + View more Why Eric Muchoki started Customized Solutions Insurance Agency Since he got multiple requests, he was inspired to start his own company after developing a rapport with clients. Muchoki founded Customized Solutions Insurance Agency, which offers solutions to individuals and corporates. He is the chief executive officer (CEO). His initial capital was KSh 50,000. “My first job was a sales executive in AAR Insurance in 2007. Back then AAR Insurance was doing medical insurance only. In 2012, while still in AAR Insurance, I started getting requests from satisfied clients to handle all their medical, motor and insurance needs. I informed the clients I would give it a thought. Later, I got a similar request. One day in the same year, a client just called and requested me to get him motor vehicle insurance since, his had expired. I couldn’t turn down the business. I sourced for cover and opened Customized Solutions Insurance Agency immediately so that I can be a one-stop shop for all my clients,” Muchoki told TUKO.co.ke in an exclusive interview. Bridging the insurance gap Muchoki noted a gap where customers were getting different insurance products from various insurance companies. He, therefore, decided to bridge that gap by providing a one-stop shop for all insurance needs. “Over the years, our portfolio has grown. We have achieved this by offering exceptional customer experience. We have clients whose businesses have grown over time, therefore needing more insurance coverage in tandem with growth consequently giving us more business. We also get referrals consistently from happy existing clients who appreciate and are satisfied with our services,” he expounded. What are the challenges in the insurance sector? According to the Insurance Regulatory Authority, the insurance rate in Kenya stands at 3%, despite being identified in Vision 2030 as critical in the country’s transformation under the economic pillar. Muchoki observed that some Kenyans were frustrated by the lengthy claims process, which lowered trust and confidence. “Client satisfaction is key in our services. When we meet a client, we make sure they understand all the terms and conditions before signing an insurance contract. This way, a client gets to know the benefits accessible and exclusions as well,” the CEO stated. He hopes to continue offering insights to the public on various insurance products which can add value to their lives. Muchoki also intends to digitise the company’s services.
by Japhet Ruto Wycliffe Musalia