Jubilee Health Insurance net earnings for the financial year 2023 increased 29 per cent to KSh 438 million up from KSh 339 million during a similar period last year.
Speaking while announcing the results, Njeri Njomo, Jubilee Health Insurance CEO and principal officer said, “Jubilee Health’s innovative approach to insurance has been driving exceptional customer service and company growth while our tailored products have expanded their market reach and resonated with customers, cementing our number one position within the region.”
Despite a challenging macroeconomic environment marred by increased costs of claims, Jubilee Health Insurance has been able to improve claims processing efficiency with the help of integrated artificial intelligence (AI) systems, machine learning and data analytics, underscoring the company’s commitment to evolve towards becoming a modern, digitally-powered business and to continue providing exceptional customer service.
Further, the business recorded significant growth in interest-bearing investments, contributing to the overall expansion of its asset base. With a three-fold increase in cash flows generated from operations, the company remains focused on prudent investment strategies to maximize shareholder value and drive sustainable growth.
“Looking ahead to 2024 and beyond, Jubilee Health Insurance reaffirms its commitment to customer excellence and innovation. The company is dedicated to enhancing its product offerings, improving customer service, and investing in advanced technologies to streamline operations.”