Nairobi, Dec. 7 -- Trust is the bedrock of economic growth, the efficient functioning of institutions, and social cohesion. In financial services, it is the invisible currency that underpins every transaction.

Yet, in many markets, trust remains fragile, particularly in insurance, where perceptions of opacity, cultural skepticism and past disappointments continue to erode confidence.

Kenya's insurance sector illustrates this reality vividly. For decades, penetration has lagged peer economies. As of the financial year 2024, the country's insurance penetration stood at 2.4 percent, according to the Insurance Regulatory Authority (IRA), a figure well below the global average of seven percent reported by the Swiss Re Institute.

Negative co...