"We need to save in Insurance because it gives one benefit of Tax avoidance" Mr.Peter Ashira.

[music] Good morning once again and welcome to Y in the morning here on Y254 channel. I am your host of the year Eliza Kimani and yes we are diving straight into a very interesting discussion and I am going to start with a question to you who's watching. Okay. Yes. And uh my question is very simple. What if something happens to you today um you are involved in an accident which we are not saying that you will be or you get critically ill and you need u attention, you need a lot of money to cater for your treatment. Do you think that you are in a position to handle that? How is your family going to handle that? or are we going to start seeing WhatsApp groups being created to change pesa and at times it's never even enough and um do you think that you are in a position where you can say you are okay for life or you're catered for in case of anything that happens let me give you a few seconds to think about that because yes that is the discussion that we are having in the house today I'm here with Peter Ashira and he is the um founder and CEO of Kijito Insurance Group. Yes. So I think just from the title of the uh organization he has it rings a mind it rings a bell in your mind what we going to be discussing about today. Yes. Do you have insurance? Does it have insurance? Do you have insurance for your health? And actually those are not the only things that you can get insurance for. We here to educate you. We're here to get you empowered. And that is a discussion that we are having right now. Karibu Sana and let's dive in straight to this. Good morning Peter. >> Good morning. >> How are you doing? >> Very well. Good to be >> say hello to my people. >> Hello viewers. Good morning. It's nice to have this conversation this morning. I'm looking forward to an interesting discussion. >> All right. Maybe you can start by telling us about um KTO insurance group. Well, um I am the group MD for Kito insurance group. At Kijito, we do all insurance. Uh we are an insurance intermediary. Um insurance broker. We do life general and medical uh insurance. Um our work is to make sure that your access to insurance is much easier and with great understanding and that you get the sufficient scope of cover. That's what we do at Gigito. >> Okay. Uh for you, what do you think Kenyans hear? Cuz there's what you say and what people hear. So what do you think Kenyans hear when they hear the name or rather the word insurance? What comes to their mind? um because I know you've interacted with people they've come to you and now you you are in a position where you can actually say what they know but there's what they actually come and get to understand what insurance is. So when you talk to people about insurance, at first um insurance has been assumed to be a gatekeeper um for the rich, a protection for assets that you already have. >> And so when we talk to people about insurance, it's easy for someone to tell you when I buy my car, I will I will give you a call. >> Uh I will look for you when I have assets to protect. But our responsibility has been to ensure educate uh people and help them understand that insurance is supposed to be part of your plan. >> Mhm. >> From the onset. Uh young people are big ideas. They're pitching even for in your pitch insurance should be part of it. Investors want to know >> that your risks are transferable. And so u we are educating people to understand that insurance is life. And so as long as we are alive we must be able to um make insurance part of it cuz change is unpredictable. We don't know when or what time. So it's always good to hedge your risk. >> Yeah. Now there are people who feel like um cuz I heard someone saying that why should I save and I don't know if I'm going to live tomorrow. So for such a person with such kind of a mindset definitely they're going to bring that also to the fact about insurance. Yeah. So how would how do you think or how would you tell someone that insurance is very important especially when it comes to health cuz people feel like e me I'm not anticipating to get sick anytime soon. uh cancer is for the rich people because people think that insurance is for cancer and those big um sicknesses. But how would you tell someone maybe I've come to your office and uh because I have to come and or maybe because my my workplace expects me to have insurance and I've come to your office and you're there and you need to tell me the importance like you want to make me understand why I need insurance as a common man as a common Kenyan who looking at everything I am actually okay and I'm doing well without it. So when we look at insurance we have the general insurance which uh covers non-living >> things um assets um >> that's where now the cars that's where the car comes in >> and then we have the life insurance um which uh is very useful for purpose of planning and um uh and and wealth creation as well. So everyone at any stage can have a conversation or should have this conversation on insurance. If you have just gotten a job and here you are uh you need to plan and save we need to ask you have responsibilities uh in society you probably plan to have children they'll need to go to school at some point. >> Yeah. So can we sit down and develop a proper financial plan where you can use insurance products for purpose of savings and planning and um that is for life and then we have [snorts] medical uh which um is for I mean gives you peace of mind because you don't know when you will need to >> when you'll fall sick. Nobody knows. Most people who are running uh especially as semi uh very successful looking businesses they just need to fall sick and the business close. >> Y >> um because you have a bill and you can't pay and probably >> all the money is drained. >> All the money is drained. The business depends on you. M >> so if that happens the the business is forgotten and so how can we hedge that by ensuring that you have a medical cover a good medical cover that in case of that I mean um the hospital bills are taken care of by insurance but then you have assets that you build over time um there's one law of life that is often um >> taken lightly and that's the law of momentum Mhm. >> We build wealth over a period of time and the worst thing that can happen to you when you're on that journey of wealth creation is setbacks and so uh these risks are predictable uh and they might not be avoided like loss of income anything can happen fire you know in case of fire or in case of um things that are are you know were not seen And you know like COVID came and suddenly >> nobody anticipated and the whole world stopped >> on COVID and businesses closed I mean schools uh hotels were not operational anymore and that uh with that then you don't have profits so and your life must move on. How can we ensure um business interruption to ensure that even when you don't have your normal activity of income generating that you're still safe and secure your life can go on because insurance can come in and take care of that. >> Yeah. >> So it is a big it's a we we are trying to have this conversation wholesome. Yeah. >> All right. Um when you say that um then it brings in the question of what's what am I required to do so uh for me to get insured. I know money is involved but most people that's where they have the fear of hey they're going to take my money and everything. So maybe you can help explain how that also works uh for different kinds of insuranceances if it's for life or it's for the general. Maybe you can help us understand how that uh aspect comes in. So one of the challenges we've had uh in this country on the subject of insurance is educational. Uh people are not uh don't get enough information >> actually they very many people do not understand. >> Yeah. What is this insurance? I mean why? So you find someone comes and insurers their vehicle >> at a certain premium. uh they don't make a claim >> and then next year you ask them for the same premium and they're thinking >> but I I'm I'm just giving you guys money and I am not making a claim. >> Mhm. >> I mean so how am I benefiting because they don't understand the principle of insurance. So the insurance works on on the principle of uh on on a on a on a principle that the many who are fortunate >> Mhm. >> uh cover help support the few that are unfortunate. >> So we pull resources together to help those who will be unfortunate. So not having claimed h makes me fortunate like I should be happy that I did not go to hospital and I did not have to make claim >> uh to the insurance company. >> So with education then everybody has an understanding it is important you must be I mean people um insurance is part of our life. We are a religious person. Mhm. >> And I want to know that there's life. I believe that there's life after this life and that's insurance. >> So then I ask myself, so what do I need to do so that I enjoy? Yeah. So then I take insurance >> and I invest in it. I need to be good. I need to be kind. I need to give >> because if I mean uh the the life after this will favor me if I was generous here on earth. I need to forgive. So with that understanding >> and and people have understood that aspect of insurance I mean we Kenya is largely a religious >> nation which means we we have capacity to understand insurance. >> So here on where we are today uh so much is uncertain. I mean you have no guarantee of tomorrow. >> I have children. I'm a parent. I want them to have the best life. Um, I want them to continue with school when I'm not there. >> Yeah. >> I would like to prescribe to a product that assures me that that will happen whether I am there >> or not >> or not. And so if I buy an educational policy >> uh for my children h well planned for the years they'll be in high school and the years they'll be in university because >> education is very expensive. >> It is >> and even just uh managing it even if I'm alive with my income can be a struggle at times. So if I start early then I leverage on time that means I am paying school fees even before I get a wife >> or I am paying school fees just you know from day one of our marriage >> then I have time of saving little over a period of time and then when that time comes >> you're not under pressure >> I'm not under pressure but in case I'm not there >> uh my plan will still be executed the insurance company would still pay >> school fees for my children and that for me is a legacy and that's so I can use insurance for planning. I can use insurance for um sparring growth of my business. Um >> an employee who is well covered >> has peace of mind will deliver their output at work >> will be better. >> Yeah. uh knowing that in case I fell [snorts] sick, in case I get a call from home that my child is unwell, I can just said take them to the hospital, I am on my way knowing that the bills are taken care of. >> So I can use that um in my place of work to ensure that my employees I don't have high turnover of employees. uh when we are hiring and we are probably uh looking for experience or you poaching people will come and tell you the first thing they will say is where I work these are my insurance benefits >> what do you have what are you offering so I need to give a good package so I can use that for uh my business growth yeah and a lot more just just just just packaging it not necessarily for defense purposes cuz sometimes when we talk about insurance people say I'm not dying. >> Yeah. >> Because I think it has been sold previously with death. What if you die? >> What if you die? >> What if you die? But I'm not dying. >> Yeah. So can we then talk more about insurance when we are alive? >> Can we talk about how it is going to help us, you know, spark growth as a springboard >> to growth? >> Yeah. interesting. Um, I know you're learning and I love telling them to get a paper and a pen. Make sure that you're taking notes and make sure that you're using this information for your own good. Yes, that's why we're here to help educate and make sure that you get to understand what and you want to go get insurance, you know what you're going there to do. And um most of the times insurance I'm not employed cuz they always think you have to be employed and then get the insurance. But how does it now come in or how should the unemployed or self-employed people also get in to get insured? >> Yeah. So one planning is for everybody whether you are employed or unemployed employment can help you >> uh know predict your income that at least you know by end of the month by this time I'll have my pay come. >> Yeah >> but our economy is largely uh structured around informal sector and so everyone has to plan >> u even if you are in an informal sector. Yeah. >> Uh insurance has become we are trying to innovate around accommodating everyone. >> Mhm. >> Uh we have a generation that uh want uh short-term products pay as you go. >> Yeah. So insurance has been working towards that uh more so by introducing uh micro insurance >> which has which is very uh key and and and and and to very key to um economic uh growth. >> Mhm. >> So anybody can plan around their finances. Um, I have um I I sell clothes and I or you I mean you sell clothes and you can plan around it and say when do I have my money because planning is for everyone. >> Yeah. >> Can I be setting aside something small over a period of time uh for purpose of planning um or even your stock um needs protection. We've had the Gomba fires >> and most people go from I mean here to zero and there's nothing absolutely even starting off >> people are fundraising. It's a problem and and you probably you already at a level where you are bringing bills of clothes >> and now you don't even have two pieces >> to wake up to tomorrow because fire when fire comes it destroys everything >> everything. So you need that protected. I am at three bells every day. >> Yeah. >> Can I protect that to ensure that in case of fire I can still go back to my three bells every day? Because what insurance does on the principle of indemnity is that we bring you back to where you were. >> So whoever you are, wherever you are, it it could be very minimal stock, but that's all you have. That means the world to you. >> Yeah. >> So your stock could just be worth a h 100,000 but that 100,000 you have not just gotten it at once. You have built it over time. Can we make sure that that momentum you have built is sustained. So even if you are in informal sector planning is for everyone. >> Yeah. >> And uh we have to plan and so we at Kito can help you um plan. >> Okay. And now when we divert and speak about health and most of the times there there are some instances that we hear people saying that insurance doesn't cover that or this it covers this part but it doesn't cover this part and people get angry other people don't understand what is going on. So maybe you can help us understand at what point does it get and um you're told that insurance cannot cover this uh side or maybe some tests insurance cannot cover that but it covers others. But Pia there are those people that you find the whole bill has been covered by insurance. So how do they differ from one person or maybe from one illness to another? So we call them exclusions uh in insurance um >> when you're coming in when you're procuring a a medical cover. >> Mhm. >> Uh and that's why the that's that's the importance of having a broker. >> Mhm. >> Because a broker is an expert in the industry and would give you cover that is sufficient. Mhm. >> What a broker does is that he assesses your needs and then he prescribes cover that uh you can afford and that is sufficient to your needs. So then the broker becomes your consultant, the person you go to whenever you I mean >> you need you have a question or >> you go yeah you literally walk with them. Mhm. >> If you get to a point and you're told now this is not covered, you go back to the broker and ask so I'm being told this is not covered. Why? And then he can take you through that process. >> So when you're procuring a cover, for example, challenges people have had is I have a cover for 10 million in patient. >> Mhm. >> But that cover uh you probably had an an existing condition when you were taking the cover. >> Mh. M and so in the document which is the policy document uh it is stated that on this particular condition you are covered up to 3 million. >> So then the patient goes to I mean is admitted >> and they are in hospital knowing >> I am covered I have a cover of up to >> 3 million >> 10 million. >> Mhm. And then at the point of discharge probably they are told that on this cover you covered up to 3 million on this particular condition and not 10 million and that becomes frustrating. And so it is important to have um a broker who helps you understand even at your point of admission that on this particular uh condition because it was pre-existing >> it was covered up to 3 million. >> But then there are other exclusions things that are probably were never covered and and so the important thing is to know them uh before hand. So that then it doesn't lead to frustrations. >> Yeah. >> But today most insurance as a result of most insurance companies as a result of feedback from our clients most uh conditions uh have been included um in in in in >> in the cover >> in the covers. So you find as long as um the information given before or prior or at the acquisition of cover >> there was a good faith we gave all the information. >> Yeah. >> Uh then at the point of claim we should not have a problem at all. >> Yeah. So we have because of the feedback we get constantly from our clients and competition as well uh we have tried to uh cover as many for example we didn't have cover for seniors >> and so people knew after 60 >> uh when you retire you take care of your own medication. >> Yeah. But today um most insurance companies have come up with product for seniors that even at 85 >> you can get a cover a medical cover today. >> Yeah. >> Interesting. Um someone might ask how do I get to make my claim? You've said you make a claim when this happens you make a claim and someone is like okay so at what point do I get to now come and make my claim? >> So it differs uh based on product. If it is a a life policy you purchased, >> uh the insurance company will notify you when it matures and they tell you in in this period of time >> at this point your cover is going to mature. >> Uh please confirm that these are your bank details because we will be wiring the money. >> Mhm. and so or visit our offices and uh sign this and this and you know but um there's the the medical claim of course we walk the journey with you so if you're going to you are on your way to hospital you let us know so that we call the hospital prepare you you get to hospital I mean you find them expecting you and the process is smooth when you're discharged uh that is already handled by the insurance company so you don't have a challenge on making claim. The challenge people have had is um things like motor. >> Uh most people don't even know. I mean you have insurance >> but you have never bothered to know if I had an accident what happens. >> Yeah. Would it cover? >> Yeah. So that causes a delay or frustration on the road. So you've been hit and >> that's the time you pick your phone and call your agent or broker and ask uh what do I do now? And so at that point maybe you have even moved from site you have talked this person came out smiling you agreed to candle so that we don't cause traffic. >> So by the time the police are coming uh we don't even know who was >> yeah what what happened who was wrong. And that's why we advise our clients. Don't admit liability cuz sometimes you're guilty. You you think I was breaking too much. Maybe that's why the person behind me didn't uh see or you know and so just wait in case of an accident. You stay put >> and wait for the police. It is the police who will determine who was on the wrong. >> Yeah. So >> when the police come, they'll ask where are you going and how comes you're here and then you're wrong. So then you go get your police abstract. >> Almost all claims um that involves uh road accidents, you need police abstract. >> So the police will record the events on on site and then they give you a police abstract. Now the police abstract is what you would use to register your claim >> uh with your broker or your agent or at the insurance company. Yeah. And then the the broker will pick it up for you and and register the same with the insurance company and ensure that your claim is processed all the way to the end. >> So this broker is actually acting like a lawyer or something. >> Yes, he acts like a lawyer. A broker is uh represents the client. So he will walk with you throughout >> whenever there's an accident, whenever there's an inquiry at any given time, >> your your broker should be on your speed dial uh in life because you've probably done with him your uh life product. So you have uh life savings with them. You have your assets, you know, with them and and all that. >> Yeah. >> Interesting. Another question that someone would ask is what if I never get sick? What if I never find myself in an accident? So where does my money go after after all that? >> Yeah. So number one, you're fortunate and uh I believe you prayed so that you don't get sick. >> You stay in good and perfect health. M >> like I said at the beginning the insurance works on this principle that the few the many fortunate uh get to help the few >> unfortunate. >> Unfortunate. So I have contributed my premium of let's say 100,000 every month. >> Mhm. >> Yeah. And I didn't get sick. I mean I am happy to not have gotten sick. So uh that's how insurance works. So there's no refund um for premium. >> Um there's no refund for premium >> but I am happy that I did not I I'll give you an example. I I was talking to I had this friend who bought a a Range Rover. >> Mhm. >> And he did not have good understanding of insurance. So he thought these things don't even happen. I've been driving all along. he had a smaller car and had never had an opportunity to claim. So he thinks uh these things don't even happen. So he's on his way uh from Nakuru to Nairobi and then there's alli that decides to turn and did not indicate and suddenly >> he was on a third party cover. >> Mhm. So third party cover doesn't cover self. It covers the other people, the other parties that you could be involved uh in an accident with. >> So the Range Rover was written off and he couldn't I mean you walk away like you never had a car. You can only recover uh with the only person you can talk to after that is the scrape dealers. And that is >> they can just buy and >> yes and that is if you are in good health yourself if you didn't get damage you didn't get hurt. >> So insurance is vital. >> It's so vital that >> every time you making a plan on acquisition of an asset you have to ask yourself if you have an office and you have computers and you have gadgets you have to ask yourself you have a nice phone. What if you walked out here and you're doing a message and the uh >> someone grabs it? >> Somebody grabs it. >> I mean, it's at that point we at that at the point of loss is when we wish we had insurance. >> Yeah. >> Because you >> you have a phone for 100,000 200,000. >> You don't have a 100,000 sitting somewhere >> that in case you lose your phone, you're going to replace your phone. So if that happens at that point then you're thinking I wish I had insured it and now we have micro insurance >> which is providing insurance for you know helping us insure move away from the traditional long-term contracts >> uh big premiums that now we are trying to see how can we accommodate everybody >> um even those that are earning very little. >> Yeah. Even those that are paid daytoday, can we uh protect our business for short term? >> What we are calling pay as you go. >> Yeah. >> Interesting. Uh as you talk about that, what are people supposed to look out for when looking for a good insurance company? Because this is my wealth. You're actually dealing with everything that has to do with me. uh if it's my health uh if it's my assets my car my mansions that means that I need to be very careful before I get to trust people with my assets so as a common Kenyan mani what are we supposed to look out for as we are getting to look for for an insurance company >> so we have uh around 57 insurance companies licensed in Kenya uh insurance uh space is a is a regulated space. So we have a regulator called insurance regulatory authority who do a very close monitoring and uh evaluation with over four insurance companies. >> Mhm. >> Um so it's a regulated space. Um insurance the value of an insurance is payment of claim >> and so uh insurance companies are often evaluated and ranked and you get to know uh who is who pays claims who pays first because it's also important I mean who pays first >> claims so if you have a good intermediary uh they will help you uh look for a good uh underwriter or a good insurance company >> that pays claim. >> But this space is very regulated and most insurance companies uh must pay claims. Today if you had a claim that is not uh being paid, you are allowed to talk directly to the regulator. >> Mhm. >> You can report um that my claim has not been paid. uh I paid premium this was the scope of my cover and probably uh it's been investigation period has been exhausted >> which is 90 days but within 90 days you should know whether your claim is being paid >> or not >> or not being paid and the reasons why there are reasons why claim might not be paid. It is possible to have a claim >> Mhm. not paid especially if uh there's a fraud >> or because insurance is not to make uh economic gains. Insurance is meant to restore you >> to where you are. >> You get it? So sometimes uh people have an old car and they have tried selling it and it is not getting a buyer and they decide to light a fire. Light it up. set it ablaze. And so if you do that then >> the investigators will come in and they will discover that this was not >> but a genuine accident uh within 90 days uh should have been uh uh admitted in the books and paid. And if you have a fall back in case you chose an insurance company and they have delayed, you can actually report them to um the reg the regulator and they will be forced to take up their responsibility because they committed. However, the insurance space is very healthy >> in our in in Kenya. It's very healthy. Uh most insurance companies are well capitalized uh are well uh check they are frequently checked on liquidity and their ability to uh claim settlements and they're doing well even when they are not making much profits. They still have uh sufficient capital >> to pay claims. So in our country we have very a very healthy industry. >> They're reliable. They're reliable. They're reliable. >> Okay. Uh just a thought. >> Yeah. >> What if I just got my uh I just bought my insurance and weeks later I get in an accident or something happens to me. Like my question is is there a period of time that you wait for now the insurance to start getting for you or as long as I am insured even if I was insured today and got an accident today they are going to still cover for me. Now in case of accidents because accidents nobody knows when they will come on most policies actually almost all of them on accidents >> you get paid >> you get on cover now you get have an accident today in the evening >> you get paid um it is on cases that are predictable that's when we have waiting period >> for example we uh put you on cover like for last expense and then we say uh we realized that there are people who would uh put there are people uh you cover your parents when they are in ICU. >> Mhm. I mean you're looking at the situation now you're thinking where are we going to get money how are we going to you know facilitate the burial then at that point is when you bring uh your parents or or people your I mean your uh someone you love your loved one that's when you purchase a cover for them knowing that the doctor has said h if we finish two weeks it's a miracle or or they have asked you if they can relieve if they can remove the the oxygen >> and you say just hold on a bit I go take insurance. >> Yeah. So in that case is where we will say at least leave for there's a waiting period for 3 months >> or some insurance companies up to 6 months. >> Yeah. Or Yeah. Just to ensure that uh people are not uh using insurance uh to benefit. >> Okay. Yeah. And know for a young person that is starting out, maybe they just got employed or they've started their own business, so they've not really grown to become this influential or a very stable person. What would you advise uh what kind of insurance would you advise them to start out with? >> Number one, I will tell them insurance is your friend. >> Mhm. >> Uh first and foremost, you have just gotten a job. You need to plan. You need to save at least 15% of your income. >> Plan around it. >> And this income, you can only save it in the insurance in an insurance product. So we save in insurance products for three reasons. Number one, you need to accumulate capital. >> In life, capital is everything. Wherever you do, wherever you go, we call it different names at different times. We call it experience, we call it track record, all those kind of things. But that is capital and so you need to accumulate capital. So you need purchase to purchase an insurance product to help you save every month a percentage of your income for capital accumulation. But then you also need uh tax benefits. Insurance. When you save in an insurance product, you get uh to avoid there's what we call tax tax avoidance a benefit every government encourages its people to save to devel >> so they give you back a percentage of what you have saved direct from your salary >> so if you're saving uh 10,000 they give you back 1,500 >> every month as a tax benefit >> you you need that you need to maximize on the opportunity of income that you have. So that is a benefit. But then you also need to develop a discipline of saving. People don't save. >> Yeah. >> People spend everything they earn every month. And if you just lost one income, >> I mean you be broke. You'll be out on the streets. So you need to save. And so saving is not inborn. There's nobody who was born a saver. We are all you. We are all consumers. We eat until we are full. That's when we know it's time to stop at this point. >> Yeah. >> And so if I save in insurance, they have the 3 years period of time when I cannot access my savings. >> Mhm. >> This three years I will have developed a discipline, a culture of saving cuz I need to save where I can't access. If I put my money in my bank account, I'll go for it. >> So, you have just started, you've just gotten a job. First thing, even before you get the first income, can you sit down >> with a financial advisor and just see what can I do? This is my income, how much can I save? Then you come up with a plan and then you stick to that plan. >> Insurance will be your friend. You will build with time. You'll be looking at it and wondering how did I manage to accumulate all this capital and with capital you'll be able to now do bigger projects in future. >> Okay. Now I know that's their advice. So if you had questions and you wanted to know how important is this now you see that it is very important and doesn't matter uh when you've gotten the job. Yes it is even for you who's starting your business today. You can start your business today and still get insurance for your business which is very important. The example he gave about Komba. Yes. Any business no matter how small you think it is, it needs to be insured. As we wind up, maybe you can tell us what is one importance of financial um education because that is something that many people lack information about. >> So it's very important especially if you meet people who have had problems with insurance. Mhm. >> It was just because they were not educated. So someone says uh probably they started saving uh like the example I've just shared of uh saving for 3 years and for that period of time you're not you cannot access >> the money >> the money. So if you do one year and you exit it's you are likely to you know lose that money and the insurance company will give you up to 24 months. >> If you have income you can restart that savings and then it continues. >> But then you find people did not have education. Uh whoever sold the product just came to sell the product >> and they did not bother to help the client get understanding. So then it leads into frustration but also I must applaud the um the regulator of the industry because now uh we insurance space is being professionalized. We have a new insurance prof professional act 2025 which is now ensuring that everybody who operates in this industry there's a standard there's an ethical a standard of ethics that they must adhere to. M >> there's a professional standard an academical level that you must be have attained to be an insurance uh professional and this this is helping the industry because then you have more uh educated people you have more people who are well equipped trying uh now to educate the market. So we believe that this will build uh more trust in the industry and this will increase our insurance penetration from what it has stuck at 2.8 to uh much more uh or or much higher. So we believe that there will be more of these conversations like yourself uh giving people an opportunity like this to hear and >> and and learn about insurance. Um but in in my closing remarks will be insurance is your friend. Yeah. It and it must be on your speed dial. Yeah. >> Um as we speak about young people because most of the people that are watching right now are young people. >> Uh what would you teach them in regards to um money, career, entrepreneurship and insurance as a whole? Because >> I feel like most young people do not really understand what they even getting themselves into. someone is getting into the business world and they they are not even sure what they want to do or what is waiting for them on the other side. >> Yeah. So we live in a world where employment opportunities have shrunk >> significantly shrunk and it's as though everyone has to create their own opportunity in their own space. >> Yeah. And young people have opportunity because I mean they live in in in a space where it is much easier uh because of technology, because of AI, because of the opportunity and understanding people's needs and demands. >> So if you have an idea and you believe in it, >> uh go for it. Um find mentorship uh someone who can help you understand. Um wealth creation is a process. The other word for a process is time. It takes time. >> Yeah. >> So get at it. Believe in your idea. Um set it up and get going. My responsibility is to help you understand that you hedge as you go. >> Mhm. >> And the best hedger is insurance. So you make sure you have three laptops. H make sure they are safe. They can never be taken away from you. That you go back to zero to a place where you had nothing. If you have a camera >> and that's all you have, it is worth being insured. It must be protected. >> Yeah. >> If you have an office, I mean, protect it. Whatever you have, that which you have acquired over a period of time, you have a strategy and all you have is a strategy, a documented plan, make sure insurance is part of it. uh anybody coming in to finance you or fund you would want to know that uh your risks are transferable and that you're thinking uh uh you are also thinking um uh mitigating how to mitigate your risk you you want to know that you're traveling with somebody who has thought of what if >> yeah I mean you that would be your best friend uh we are we are going with you somewhere. But at least you have the what if we find traffic? What if we um what if it rains? Uh how is the state of the road >> where we are going? So what insurance uh does is that it helps you think through and then you h >> All right. >> Um I see we have like three minutes. Maybe you can now tell us about [clears throat] as we wind up about Kito insurance group. Someone has heard about that and they they feel like if I need insurance then I don't need to go look anywhere else when you are here. So yes you can tell us about that. >> So at Kito this is our ninth year uh in the service. We started as an insurance brokerage >> uh with one license uh just as a broker. Mhm. >> Now we are uh [groaning] both a broker and we are an MIP uh a medical insurance provider licensed. >> So we do all insurance. Uh we will do life, we will do general and we will do medical. We our our strength is uh client education. Uh because when we came in the space uh there was a big gap. uh people wanted insurance but then their frustration was that uh they had met someone who did not educate them appropriately. >> And so our goal has been to engage our clients. We walk with you on a journey. So from the point when we meet, >> we are in your life. We want to be on your speed dial. We want you confirming with us. We want to be your point of reference >> on any information you hear about the industry. So we have built a team uh a very strong team uh that will help um our clients customer experience. We ensure that uh we our clients are happy and they are served uh if anything um but our clients uh we are customer centric. >> So that's what we do. We are based on Mombasa road. Um that's where our offices are. But in this day uh you can find us online and we can uh serve you. We have tried to automate uh most of our services to just ensure that the millennials and Gen Z's are accommodated. They are all catered for. >> Maybe you can tell us where your username where we can find you online. So we are um we have a website that is uh ww.kijtogroup.com gigtogroup.com uh at grouproup on uh on on onx at kito groupoup on LinkedIn um uh kijito group on Facebook um yeah and uh which other one we are on all socials >> okay so if they want to find you they'll just come >> and it's a Q not a K >> it's a yes it's a Q we >> it's the pronunciation is a Yeah, but the >> Yeah, but the spelling is Q. >> Okay. >> At Kito Group. >> All right. Thank you so much, Peter. We are u we've learned personally I've learned a lot and I know that my people have also gotten to learn a lot and also like their minds get opened up because there are so many myths that we believe in, so many things that we think about. But right now, as you're going to get your insurance, as you're going to get insured, you know what you're getting yourself into. You know what you're walking into because um that's the most important thing that we don't want you to get in to things with a blindfold. You don't understand what you're getting yourself into. And like you've said, most young people wouldn't go for something that they're not even sure what it is. And I think that's why you'll find that most of the time they they're so inquisitive. They want to understand. They want to know. But right now, I know that your eyes are opened. Yes. And now insurance for your business or for your health, for life. You know what you're going for and you know your benefits. You know what you're getting out of it. Yes. Um it's been an insightful uh discussion and we are glad that you came and graced our studios today. >> Yes. Thank you so much for coming. So my people um taking a very short break or rather let me say I'm done for the day but yes uh Tunu has a a great discussion that she's coming to have mim until tomorrow. My good name is Eliza Kimmani. You can find me on all my social media platforms at Eliza Kimmani. Stay tuned. Do not go anywhere. This has been Y in the morning here on Y254 channel.