Madison Health Insurance Products: Complete Agent Guide
Madison Insurance is a Kenyan-owned insurer that's been in the market since 1988.
They offer competitive health products with a focus on the mid-market segment. For agents, Madison represents a solid alternative to the larger players.
Here's your guide to selling Madison health insurance.
Table of Contents
- Madison Insurance Overview
- Madison Health Products
- Madison Commission Structure
- When to Sell Madison
- The Bottom Line
- Next Steps
Madison Insurance Overview
Madison Insurance Company Kenya is a composite insurer offering general and medical insurance. They're known for solid service and competitive pricing in the mid-market.
Key strengths:
- Competitive mid-market pricing
- Good claims turnaround
- Flexible group schemes
- Strong SACCO relationships
Where they're less competitive:
- Premium hospital network
- Brand recognition vs major insurers
- Individual product range
Madison Health Products
| Product | Target | Key Feature |
|---|---|---|
| Madison Medical | Individuals/Families | Standard medical cover |
| Corporate Health | Groups 10+ | Flexible employer schemes |
| SACCO Schemes | Cooperatives | Group rates for members |
Madison Medical Plans
| Plan | Inpatient | Outpatient | Maternity | Premium (Individual) |
|---|---|---|---|---|
| Bronze | KES 500,000 | KES 30,000 | KES 50,000 | ~KES 28,000 |
| Silver | KES 1,000,000 | KES 50,000 | KES 80,000 | ~KES 42,000 |
| Gold | KES 2,000,000 | KES 80,000 | KES 120,000 | ~KES 68,000 |
| Platinum | KES 5,000,000 | KES 150,000 | KES 200,000 | ~KES 125,000 |
Madison Commission Structure
| Product | First Year | Renewal |
|---|---|---|
| Individual medical | 20–24% | 14–18% |
| Corporate health | 14–18% | 10–14% |
| SACCO schemes | 12–15% | 8–12% |
When to Sell Madison
Ideal clients:
- Cost-conscious individuals and families
- Mid-sized companies
- SACCOs and cooperatives
- Regional/upcountry clients
Positioning: "Quality coverage at fair prices from a trusted Kenyan insurer."
The Bottom Line
Madison offers solid mid-market health coverage. Position them as the sensible choice for clients who want good coverage without paying premium prices.
Next Steps
- Get appointed with Madison Insurance
- Learn their product tiers
- Identify mid-market prospects
- Read: How to Sell Group Insurance to SMEs
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