The AKI Agents of the Year Awards is an annual event launced in 2002 by the Association of Kenya Insurers (AKI) to recognise and reward outstanding performance by Life Insurance Agents in the country.

To mark the even, a gala dinner was held on 3rd April 2009 at the Safari Park Hotel, Nairobi. The Deputy Prime Minister and Minister for Finance Hon. Uhuru Kenya was the invited guest of honour but was represented by Justus Nyamunga, Director of Economic Affairs. The gala dinner was well attended.

Coupled with the gala dinner, AKI hosted a forum for all 197 agents who qualifed in the AKI Agents of the Year Awards (AYAA) at Panafric Hotel on the same day. The Executive Director of AKI in his opening remarks commending the agents for their exemply performance noting that one of them made nearly 400 policy sales during the year despite the prevailing difficult economic conditions in the country. He noted that the concept of sales in life insurance is about volumes and persistency. He further noted that a major area that is often neglected is the after sales services. To avoid such a trend, insurance companies should support sales people while sales people should do away with the notion that existing customers are not important.

The Chief Executive Officer of IRA Mr. Sammy Makove officially opened the forum and congratulated all Agents who qualified in the Awards. He encouraged agents to remain persistent noting that insurance is not bought but sold. He noted that penetration rate of life assurances still remains very low as only about 400,000 individuals hold life insurance policies in a potential market of 15 million people. He encouraged life insurance executives to come up with innovative products and integrate the use of technology to remain relevant. He noted that lack of knowledge on insurance is still a major hindrance to growth. He encouraged insurance companies to adopt a more aggressive marketing strategy and develop a good relationship with existing and potential customers. He discouraged dishonesty on the part of the agents, encouraging professionalism and integrity. Mr. Makove informed participants that the industry faces a number of challenges some of which have led to the negative perception of the industry. He revealed that IRA is embarking on a series of public education campaigns.

Mr. Lennard Asher of Empowerment Resource Technologies made a presentation entitled “Maintaining Performance Focus and Sharpening Strategies for Getting Ahead”

The main areas discussed include:

a) Mental Principles of selling

The main principles include:
1. Cause and effect 5.Concentration
2. Compensation 6.Attraction
3. Control 7.Correspondence
4. Belief

b) Personality Tune-up

Agents were encouraged to tune up their personality through the following actions:
1. Be committed/persistent
2. Have a Healthy Ego
3. Have Listening skills
4. Have a sense of humor
5. Be enthusiastic

c) Selling Evaluation

The key factors in improving sells include:
1. Positive mental Attitude 5.Prospecting skills
2. Good health& Appearance 6.Managing objections
3. Product knowledge 7.Gaining commitment
4. Presentation skills 8.Personal Management skills

d) Other Critical success factors which include:

1. Clarity
2. Concentration
3. Consultative
4. Courtesy
5. Competence
6. Confidence

He also advised the Agents on ways of staying on top of their careers:

1. Having your boss as an ally
2. Have an expert
3. Add value to your advice
4. Be result driven
5. Anticipate the future
6. Delight your customer
7. Keep records
8. Be grateful
9. Do market & company analysis

Mr. Philip Moore of LIMRA international took the agents through a topic on PROFESSIONALISM.
High Lights from Philips Presentation:

What do consumers expect from a professional agent?
1. Trustworthiness
2. Understanding information
3. To have a good reputation
4. Act in clients best interest
5. Provide good financial advice
6. Use low pressure sales techniques
7. Provide good service

Improving Agents professionalism involves training and regulation.
Training encompasses:
i. Product knowledge
ii. Sales skills
iii. Interpersonal skills
iv. Conduct/ethics
Regulation involves:
i. Fact finding
ii. Document ting the sales process
iii. Code of conduct.