Invesco Assurance Appoints New CEO, Board Chair
Daniel Muriungi Mugao has been announced as the Principal Officer and Chief Executive Officer of Invesco Assurance as of 7th March 2022.
The new appointment to the Insurance Underwriter follows approval from the Insurance Regulatory Authority.
Mr. Mugao holds a Bachelor of Commerce degree (Insurance Option) from the University of Nairobi and an MBA in Marketing from Egerton University.
Mr. Mugao is a seasoned Insurance Professional with over 29 years of experience, and over 10 years spent in a management position. He has proficiency in business management, sales, underwriting, claims and service processes.
Joining at a critical time that company is gearing around for a major turnaround, he’s expected to bring a robust business strategy meant to change the fortunes and image of the insurer, this as the sector is seeing an increase in claims fraud in the motor vehicle insurance space.
Previously, he worked as General Manager of Britam General Insurance (K) Company, as well as Head of Business Development at Jubilee Insurance Company.
Mr. Mugao joins Invesco from Pacis Insurance Company where he was a consultant offering strategic direction and supporting management to grow business.
Invesco has also appointed Mr. Stephen Kirubi Njoka as its chair of the board of directors in a move aimed at turning around the fortunes of the company which has in the past undergone business turbulence largely due to insurance fraud emanating from the Public Service Vehicle sector
Mr. Kirubi, the new board chair, is a seasoned banker, management and leadership executive, whose expertise is in change and performance management, and strategic and public sector reforms.
He holds a BA degree in economics and public administration from Punjabi University in India and a BA in psychology from Collin County Community College in USA.
“Our immediate focus will be developing and implementing a turnaround business strategy aimed at drastically reducing the level of fraud in the business while instituting measures that place the customer at the center of our business,” Mr. Mugao said.