Association of Insurance Brokers of Kenya vice chairman Nelson Omolo (right) interacting with Rehan Khan during their monthly meeting held at Serena Hotel on January 29, 2016.[ PHOTO /Daily nation.]The Association of Insurance Brokers of Kenya (AIBK) is warning of a likelihood of the extinction of their business as the underwriters are opting to directly deal with their customers. AIBK chairman Nelson Omolo has pointed out on direct procurement by the public entities as one of a threatening factor to their survival. He has also accused the underwriters of publicly advertising their services and sidelining them. Brokers act as intermediaries between a customer and an underwriter as they depend on the commission they get from conducting business between the two. “We discourage direct procurement because underwriters can neither rival brokers in technical know-how nor give personalized services,” said AIBK chairman Nelson Omolo.The brokers have for several months been fighting with the insurers who they claim are trying to render them as irrelevant in the business industry. Bima Intermediaries Association of Kenya , a representer of insurance agents, criticized the underwriters for creating an online portal that allow importers to log in and directly acquire the Marine cargo insurance.Mr Amolo also accused the underwriters of handling clients by using in-house agents. “We are saying this is wrong because if you want to appoint an agent or a broker, you must go through due process,” said Mr Omolo..

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