In 1998, Henry Nyakwaka borrowed Sh20, 000 from a village Sacco in Seme-Kisumu County and started up the Honsafe Insurance Agency.
Back then, Mr. Nyakwaka was a chicken farmer in the village.
“I was a member of the Sacco and my savings enabled me to acquire the Sh20, 000 loan,” he said.
He used the money to register the agency, set up an office and print documents such as receipt books and business cards.
He was now ready to try out his hand in the insurance industry, with an aim of proving unique and specialized services to clients.
“My first clients were secured through ordinary prospective where I used to get a profit of Sh.10, 000 per month,” he said.
As time went by, his client base grew through referrals, renewals and media adverts. Currently, he earns Sh. 50, 000 per month due to his swollen client base.
“It is a very free market. I am in Kisumu but my clients’ base goes beyond Kisumu County,” he said.
Today, with an office at the Re-Insurance Plaza in Kisumu town, Mr. Nyakakwa is collaborating with major players in the insurance sector such as Madison, Direct Line, Monarch, Resolution Health, Corporate and First Assurance among others.
Mr Nyakwaka studied sales and marketing, before pursuing a proficiency course in accounting. Currently, he is pursuing an online diploma course in insurance.
With over 15 years experience in the insurance industry, he says he is happy and comfortable doing what he loves.
“Insurance is not like gambling. You will surely get equal share of your efforts. This is a competitive market that requires minimal qualifications whatever,” he noted.
He advised those willing to join the industry to do so without any fear.
“It is a career industry. You can start from a very humble beginning and rise to a CEO of a major insurance Company,” said Mr. Nyakwaka.
He plans to open a new branch in Busia County very soon.