tito doc.doc RESEARCH STUDIES TO STUDENTS

Research Work

1. A REPORT OF THE INDUSTRIAL ATTACHMENT UNDERTAKEN AT AFRICA
MERCHANT ASSURANCE COMPANY LIMITED (AMACO), FROM 27
TH
MAY TO 9
TH
AUGUST 2024, AND SUBMITTED TO THE DEPARTMENT OF PURE AND APPLIED
MATHEMATICS ON

BY
TITUS OCHOLA ONGONG’A
REG NO: SCM212-0455/2021
IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE
DEGREE OF BACHELOR OF SCIENCE IN INDUSTRIAL MATHEMATICS.

2. DECLARATION
DECLARATION BY THE STUDENT
I declare that I have truthfully produced this report, by these rules of conduct, and that I have
listed all of the tasks and activities I completed while on attachment. I thus affirm that this
content is original.
NAME: TITUS OCHOLA ONGONG’A
REG NO: SCM212-0455/2021
Signature ……………………………………… Date ……………………………………..
DECLARATION BY THE SUPERVISOR
This attachment report has been submitted with my approval as the university supervisor.MR.
ELISHA OYANDO
Signature……………………………. Date …………………………. Stamp ……………….

3. ACKNOWLEDGMENT
I would like to express my gratitude to Almighty God for enabling me to complete this report on
industrial attachment. Success in completion of any type of attachment requires help from
several people. I have also taken help from different people in the preparation of this report. I
convey my sincere gratitude to my Academic supervisor. Dr. Edward Richard, Amaco Unit
managers, Japheth Aoro, Jonathan Lesaloi, Winney Rono and Kelvin Tipapa. I also recognize
the direct Sales Force team lead by Lencer Otieno, Nancy Otieno and Ezekiel Kipila. I cannot
forget to acknowledge my colleagues at Amaco insurance Narok Brunch lead by Collins Otieno,
Dalton Parkei, Filis Onyinkwa, Caleb Munguti, Ruth Munywa and Hellen Malunu for being
there, for through them, I learnt about field work during marketing.

4. EXECUTIVE SUMMARY
The purpose of the Industry Internship requires that all students have a clear understanding of
what is done in the report. An Attachment is a training program that prepares employees for the
jobs they want to do after graduation. This report contains information gathered during my two
months of training at AMACO Insurance Limited. As a student, I make connections to gain
knowledge and skills, develop my confidence in problem-solving, and spend quality time with
the many groups of people I will meet in my life. This report provides my insights into the
organization and the skills I have gained in everything I do. The report provides a brief
introduction to AMACO insurance and the roles of different organizations. The information in
the report reflects all of my achievements concerning the goals outlined in this article. It also
highlights the lesson learned, the challenges and how I overcame them, recommendations, and
conclusions.

5. Table of Contents
DECLARATION..............................................................................................................................................ii
ACKNOWLEDGMENT...................................................................................................................................iii
EXECUTIVE SUMMARY ........................................................................................................................iv
TABLE OF CONTENTS.............................................................................................................................v
CHAPTER ONE..............................................................................................................................................1
1.0 INTRODUCTION...........................................................................................................................1
1.1HISTORY OF AFRICA MERCHANT ASSURANCE COMPANY LIMITED ...................1
1.2 CORE ACTIVITIES OF AMACO ................................................................................................2
1.3 VISION, MISSION STATEMENT AND CORE VALUES OF AMACO ...................................2
1.3.1 VISION:.............................................................................................................................................2
1.3.2 MISSION:.................................................................................................................................2
1.3.3 CORE VALUES:......................................................................................................................2
1.5DUTIES OF BRUNCH MANAGER, UNDERWRITER AND DSF ......................................4
1.5.1 DUTIES OF BRUNCH MANAGER .......................................................................................4
1.5.2 DUTIES OF UNDERWRITER ...............................................................................................4
1.5.3 DUTIES OF DIRECT SALES FORCE..................................................................................5
CHAPTER TWO.........................................................................................................................................6
2.1 HOST DEPARTMENT ...................................................................................................................6
2.2 STAFF ESTABLISHMENT OF UNDERWRITING DEPARTMENT .......................................6
CHAPTER 3................................................................................................................................................7
3.1 Objective of the attachment............................................................................................................7
3.2 ROUTINE DUTIES CARRIED OUT ............................................................................................7
3.3 LESSON LEARNED.......................................................................................................................7
CHAPTER FOUR............................................................................................................................................9
4.1 CONCLUSION................................................................................................................................9
4.2 RECOMMENDATIONS TO AMACO ..........................................................................................9
4.3 RECOMMENDATIONS TO JKUAT ..........................................................................................10
REFERENCE............................................................................................................................................10

6. CHAPTER ONE
1.0 INTRODUCTION
Industrial relations training is an integral part of the curriculum at Jomo Kenyatta University of
Agriculture and Technology. The commitment period is usually up to 8 weeks, and during this
period student need to gain additional practical experience in addition to their university studies.
It also introduces you to the real world of work and its challenges to prepare you for your future
career. This report is the result of his 8-week practical training at the Narok branch of African
Merchant Assurance Company Limited (AMACO).
Africa Merchant Assurance Company recognizes its corporate social responsibility to serve its
communities adequately and to engage in social development and capacity building. The Africa
Merchant Assurance Company recognizes its corporate social responsibility to serve its
communities adequately and to engage in social development and capacity building. The Board
supports sustainable partnerships with communities, employees, local governments, and all
stakeholders. The Board believes that the long-term commercial viability of a company is best
served if it is in good harmony with society's ethical and moral values, complies with legal and
regulatory requirements, and promotes social activities that are respectful of people and their
communities. I am fully aware of the increased possibilities and environment. We carry out the
mission entrusted to us by society and carry out our business with social responsibility. The
Board establishes rules and regulations that help the company to operate in a manner that
balances the short-term profit and the long-term needs of society. The Board of Directors
annually approves the allocation of funds for social activities aimed at alleviating suffering in
society.
1.1HISTORY OF AFRICA MERCHANT ASSURANCE COMPANY L IMITED
Africa Merchant Assurance Company Limited was incorporated in Kenya and licensed to handle
property and casualty insurance business. In 2000, we acquired a license and started a full-scale
business. A team of highly qualified, experienced, and dynamic staff provides personalized,
efficient, and professional insurance services. Their operations are based on specially tuned
computer systems organized to provide efficient service to their customers. The company prides
itself on its strong asset base and unique nationwide branch network to provide its customers

7. with quality city services in reinsurance. Africa RE, Kenya RE, PTA RE, and French COR. All
reinsurers are internationally rated. Africa re internationally ranked. Africa Merchant Assurance
Company Limited not only offers a wide range of insurance products tailored to individual needs
but also offers bespoke insurance/core insurance for virtually all corporate institutions.
1.2 CORE ACTIVITIES OF AMACO
Motor Insurance: Offering coverage for private, commercial, and special types of vehicles
against risks like accidents, theft, and third-party liabilities.
Property Insurance: Protecting residential and commercial properties against risks such as fire,
theft, and natural disasters.
Liability Insurance: Offering coverage against legal liabilities arising from bodily injury or
property damage to third parties.
Marine Insurance: Covering risks associated with the transportation of goods by sea, air, or
land.
Agricultural Insurance: Providing coverage for farmers against losses due to natural calamities,
pests, and diseases affecting crops and livestock.
Personal Accident Insurance: Offering financial protection in case of accidental injuries,
disabilities, or death.
Travel Insurance: Providing coverage for travelers against risks like trip cancellations, medical
emergencies, and lost luggage.
1.3 VISION, MISSION STATEMENT AND CORE VALUES OF AMACO
1.3.1 VISION:
Be the trusted insurance and related financial services partner in Africa.
1.3.2 MISSION:
Committed to providing reliable insurance solutions that guarantee sustainable personal and
business financial security.
1.3.3 CORE VALUES:
Flexibility: AMACO emphasizes the ability to adapt to changing circumstances and customer
needs. This value signifies the company's commitment to providing customized insurance
solutions that cater to the diverse and evolving requirements of their clients.
Excellence: AMACO is dedicated to maintaining high standards in all aspects of its operations.
This includes offering top-quality insurance products and services, ensuring customer
satisfaction, and continually improving their processes and systems.

8. Teamwork: Importance of collaboration among AMACO's staff, partners, and stakeholders. By
working together effectively, the company aims to create a supportive and productive
environment that enhances overall performance and service delivery.
Customer-Focused: Prioritizing the needs and expectations of clients. AMACO is dedicated to
understanding and addressing customer concerns, providing personalized services, and building
long-term relationships based on trust and reliability.
Honesty: Honesty reflects AMACO's commitment to integrity and transparency in all its
dealings. The company values ethical conduct, ensuring that they operate with sincerity and
uphold their promises to customers and partners.
THE GOVERNANCE STRUCTURE OF AFRICA MERCHANT ASSURANCE
COMPANY LTD.

ELECT

APPOINT
SHAREHOLDERS
MANAGEMENT
BOARD OF
DIRECTORS
BOARD
OF
AUDIT
AND
INTERNAL
AUDIT
RISK
MANAGEMENT
FUCTION
BOARD STRATEGY
AND OPERATIONS
COMMITTEE
BOARD
NOMINATIONS
AND
REMUNERATION

9. 1.5DUTIES OF BRUNCH MANAGER, UNDERWRITER AND DSF .
1.5.1 DUTIES OF BRUNCH MANAGER .
Operational Management: Overseeing daily operations of the branch, ensuring all processes
are running smoothly and efficiently.
Sales and Marketing: Developing and implementing strategies to achieve sales targets and grow
the customer base. This includes promoting various insurance products and services.
Customer Service: Ensuring high levels of customer satisfaction by addressing client inquiries,
resolving complaints, and providing guidance on insurance policies.
Staff Management: Recruiting, training, supervising, and evaluating branch staff. Ensuring
employees are motivated and perform their duties effectively.
Financial Management: Monitoring branch budgets, managing expenses, and ensuring financial
goals are met. Preparing financial reports and ensuring compliance with company policies and
regulations.
Risk Management: Identifying and mitigating risks associated with branch operations. Ensuring
compliance with all regulatory and legal requirements.
Claims Processing: Overseeing the processing of insurance claims, ensuring timely and accurate
handling.
Reporting: Preparing regular reports on branch performance, sales, customer service, and other
key metrics for senior management.
Relationship Management: Building and maintaining strong relationships with clients,
stakeholders, and partners to enhance the branch’s reputation and business opportunities.
Compliance and Audit: Ensuring the branch adheres to all internal policies and external
regulations. Facilitating audits and implementing any required changes or improvements.
Strategic Planning: Contributing to the development of strategic plans and initiatives to drive
branch growth and improve service delivery.
1.5.2 DUTIES OF UNDERWRITER
Operational Management: Overseeing daily operations of the branch, ensuring all processes
are running smoothly and efficiently.
Customer Service: Ensuring high levels of customer satisfaction by addressing client inquiries,
resolving complaints, and providing guidance on insurance policies.
Financial Management: Monitoring branch budgets, managing expenses, and ensuring financial
goals are met. Preparing financial reports and ensuring compliance with company policies and
regulations.
Risk Management: Identifying and mitigating risks associated with branch operations. Ensuring
compliance with all regulatory and legal requirements.
Claims Processing: Overseeing the processing of insurance claims, ensuring timely and accurate
handling.
Reporting: Preparing regular reports on branch performance, sales, customer service, and other
key metrics for senior management.
Relationship Management: Building and maintaining strong relationships with clients,
stakeholders, and partners to enhance the branch’s reputation and business opportunities.
Compliance and Audit: Ensuring the branch adheres to all internal policies and external
regulations. Facilitating audits and implementing any required changes or improvements.

10. Strategic Planning: Contributing to the development of strategic plans and initiatives to drive
branch growth and improve service delivery.
1.5.3 DUTIES OF DIRECT SALES FORCE
Sales and Marketing: Actively promoting and selling AMACO’s insurance products to
potential clients. This involves identifying sales opportunities, making presentations, and
explaining policy details to customers.
Client Acquisition: Generating leads and acquiring new clients through various methods, such
as cold calling, networking, referrals, and attending events.
Customer Service: Providing excellent customer service by addressing client inquiries,
explaining policy terms, and assisting clients with the application process.
Needs Assessment: Conducting thorough assessments of potential clients’ insurance needs and
recommending suitable products to meet those needs.
Policy Processing: Assisting clients in completing insurance applications and ensuring all
required documentation is submitted accurately and timely.

11. CHAPTER TWO
2.1 HOST DEPARTMENT
Underwriting department
key functions/Activities of the department
Operational Management: Overseeing daily operations of the branch, ensuring all processes
are running smoothly and efficiently.
Customer Service: Ensuring high levels of customer satisfaction by addressing client inquiries,
resolving complaints, and providing guidance on insurance policies.
Financial Management: Monitoring branch budgets, managing expenses, and ensuring financial
goals are met. Preparing financial reports and ensuring compliance with company policies and
regulations.
Risk Management: Identifying and mitigating risks associated with branch operations. Ensuring
compliance with all regulatory and legal requirements.
Claims Processing: Overseeing the processing of insurance claims, ensuring timely and accurate
handling.
Reporting: Preparing regular reports on branch performance, sales, customer service, and other
key metrics for senior management.
Relationship Management: Building and maintaining strong relationships with clients,
stakeholders, and partners to enhance the branch’s reputation and business opportunities.
Compliance and Audit: Ensuring the branch adheres to all internal policies and external
regulations. Facilitating audits and implementing any required changes or improvements.
Strategic Planning: Contributing to the development of strategic plans and initiatives to drive
branch growth and improve service delivery.
2.2 STAFF ESTABLISHMENT OF UNDERWRITING DEPARTMENT
Amaco Narok brunch, underwriting department was licensed in the year 2000. This department
handles issues related to claims. the department comprise of an individual who is the assistant
underwriter who is charged with the following duties and responsibilities Brunchwise;
a.Policy cancellation
b.Aims operations
c.Policy renewals
d.Petty claims, ie windscreen

12. CHAPTER 3
3.1 Objective of the attachment
The industrial attachment is organized by the university for the following reasons:
• To expose the student to the behavior of the organization, in both the internal and external
environment.
• To provide the student with an opportunity to relate theory with practice.
• To give the student an opportunity to work in their area of intended specialization.
• To enhance the student's awareness of obligation in public service.
• To provide the student with the opportunity to develop hand no experience in the world of work
and its future, hence making the student prepared, employable, and productive.
• To enhance the students’ understanding and organization in the group processes.
3.2 ROUTINE DUTIES CARRIED OUT
Data Analysis: Collecting and interpreting data to support decision-making processes.
Actuarial Tasks: Assisting in calculating insurance risks and premiums.
Underwriting Support: Evaluating risks and determining coverage terms.
Claims Processing: Analyzing claims for validity and determining payout amounts.
Financial Modelling: Creating models to predict financial outcomes and assess various
economic scenarios related to insurance.
3.3 LESSON LEARNED
Thorough Risk Assessment is Crucial: Accurately assessing risk is fundamental to
underwriting. Inadequate risk assessment can lead to significant financial losses for the company.
Data-Driven Decisions: Utilizing data analytics and statistical models improves the accuracy of
risk assessments and premium calculations. Historical data and predictive modeling are essential
tools.
Continuous Learning and Adaptation: The insurance industry and risk landscape are
constantly evolving. Continuous learning about new risks, regulations, and industry trends is
necessary to stay relevant and effective.
Importance of Clear Communication: Effective communication with clients, agents, and other
departments is crucial. Clear explanations of policy terms, conditions, and underwriting
decisions help prevent misunderstandings and build trust.
Attention to Detail: Precision in reviewing applications and documentation is essential. Small
errors can lead to significant problems, so attention to detail is paramount.
Risk Mitigation Strategies: Implementing effective risk mitigation strategies, such as policy
exclusions, deductibles, and coverage limits, helps manage potential losses.
Flexibility and Adaptability: Being flexible and adaptable in underwriting practices allows for
better handling of unique or emerging risks, such as those posed by new technologies or
changing environmental conditions.
Feedback Utilization: Listening to feedback from clients, agents, and other stakeholders helps
improve underwriting practices and product offerings.
Building Expertise: Specializing in specific areas of underwriting (e.g., marine, health, motor
insurance) helps build deeper expertise and improves risk assessment in those areas.

13. Ethical Considerations: Maintaining high ethical standards in underwriting practices ensures
the company’s integrity and trustworthiness in the market.
3.4 CHALLENGES AND MITIGATION STRATEGIES
CHALLENGES
Complex Data: Analyzing large and intricate datasets can be overwhelming.
Technical Skills: Applying advanced statistical and mathematical methods may require
significant technical proficiency.
Language barrier: Local natives spoke in fluent maasai
Objections: Clients were not cooperating
Understanding Industry Jargon: Familiarizing yourself with insurance-specific terminology
and concepts.
Adapting to Work Environment: Adjusting to the company's workflow, culture, and software
tools.
MITIGATION STRATEGIES
Enhanced Data Analytics: Utilizing advanced data analytics and machine learning models to
improve risk assessment and decision-making.
Training and Development: Providing continuous training and professional development for
underwriters to keep updated on industry trends, regulatory changes, and new risk assessment
techniques.
Collaboration with Other Departments: Fostering close collaboration between underwriting,
claims, sales, and customer service departments to ensure a holistic approach to policy
management and issue resolution.
Clear Underwriting Guidelines: Establishing clear and comprehensive underwriting guidelines
to ensure consistency and accuracy in risk assessments.
Customer Education: Educating clients about their insurance options, policy terms, and the
importance of accurate information disclosure. This helps reduce miscommunications and
ensures clients understand their coverage.
Feedback Mechanisms: Implementing feedback mechanisms from clients, agents, and other
stakeholders to continuously improve underwriting processes and address any emerging issues.
Enhanced Communication: Maintaining clear and open lines of communication within the
underwriting team and with other departments to ensure a coordinated approach to risk
management and policy issuance.

14. CHAPTER FOUR
4.1 CONCLUSION
In conclusion, my experience at AMACO has been both challenging and rewarding. Through
diligent effort and effective ataff engagement, I have successfully penetrated obstacles such as
securing cooperation, ensuring data accuracy, and addressing staff concerns about confidentiality
and data use.
Achieving high response rates and improving data quality have been significant
accomplishments, enabling me to provide reliable insights into market trends, educational
outcomes, and clients behaviors. These efforts have not only informed policy development and
resource allocation but also increased community awareness and enhanced collaboration among
staffs.
By identifying emerging trends and patterns in the market through thorough data analysis, I have
contributed to evidence-based decision-making in areas such as resource allocation, premium
calculations, and Claims analysis.
Strengthening partnerships and continuing to enhance my skills in data collection and analysis
will be crucial in enhancing positive growth rate in insurance industry . Ultimately, I remain
dedicated to delivering comprehensive and impactful survices that support positive change and
sustainable development across insurance sectors.
4.2 RECOMMENDATIONS TO AMACO
Based on my experience conducting various duties in your company, here are some
recommendations to ease performance and increase clients cycle.
1. Enhance Staff Engagement
Clear Communication: Ensure clear communication on field objectives, benefits, and strategies
to staffs to foster understanding and cooperation.
2. Address Ethical and Privacy Considerations
Data Privacy: Ensure compliance with data protection regulations and implement robust
measures to safeguard clients privacy and confidentiality.
3. Enhance Marketing Strategies.
Innovative Approaches: Explore innovative marketing methodologies, such as online platforms
or mobile data collection tools, to enhance reach and accessibility.
4. Continuous Improvement
Feedback Mechanisms: Establish feedback mechanisms to gather input from staffs and clients
for continuous improvement of marketing strategies and processes.
Adaptability: Remain adaptable to changing circumstances and emerging trends to ensure the
relevance and effectiveness of marketing efforts over time.

15. 4.3 RECOMMENDATIONS TO JKUAT
Introduce statistical software: Gain hands-on experience with statistical software packages like
SPSS, SAS, or Excel. These tools offer a wide range of statistical techniques and can help you
analyze real-world data sets efficiently.
Practice with real-world examples: Apply statistical concepts to real-world cases, such as
analyzing market trends, financial data, or scientific experiments. Work on projects or that
require data analysis to enhance practical skills.
REFERENCE
http:// www.amaco.co.ke
Gumbe,S.M,Svotwa, T.D., & Mupambireyi, F.P(2012). Students’ perspectives of industrial
attachment program: A study of University of Zimbabwe faculty of commerce students(2010-
2011). International Journal of Physical and Social Sciences, 2(9),12-36.