Blogger Cyprian Nyakundi never runs out of frauds, scandalous issues and peoples to expose. Many of you are aware of what he does and can vividly remember how he exposed the Ruaraka land scam that nobody wanted to talk about.
He made 200 million from the Ruaraka land scam. But Kenyans love scammers! https://t.co/nvBODcYshx
— Cyprian, Is Nyakundi (@CisNyakundi) December 9, 2019
Or even more, the blogger’s insights on how Kenya’s leading Telco Safaricom had/has been stealing not only peoples money(airtime) but also intellectual properties and patents not to mention the rot that was exposed in the KPMG Audit report.
According to the Twitter account with the same name and similar content with the blogger who was de-platformed in 2018, Kenyans have been losing a lot of money to insurance cons and it was time to name and shame them.
“Beware of this man Gerald Kuchio, he is an insurance conman. Messed me big time last year after I gave him money as an agent to pay medical and my two cars insurance cover. I have come to realize there are a lot of frauds in this industry! @ira_kenya @DCI_Kenya,” Nyakundi posted on Twitter while tagging IRA and DCI.
So why did he tag the two? The Insurance Industry is regulated by the Insurance Act and its attendant Regulations. The Act provides for the Insurance Regulatory Authority (IRA) which is responsible for licensing, regulating and developing the insurance sector in Kenya. You people know what DCI does!
Now, in the insurance industry, the agents are good, especially if you are a busy fellow, but make sure you tell the agent to give you insurance pay bill number or bank account. The mess happens when you get a wrong agent.
According to blogger, he works with people he trusts and Gerald, an insurance agent was introduced to him by a close friend. He had their trust until a problem that needed the cover arose.
This has been the case and so many people have lost their money. Now whether the insurance firms are an accomplice of this mess is a topic for another day. Because, most if not all, will have a hand in it. I mean, These frauds resulted From Cruel Insurance companies Practice and culture of Not paying these salespeople salaries, they are strictly on commissions and zero retainers.
According to new government directives, agents are not allowed to collect premiums from clients, you should get a quotation and pay yourself via bank or MPesa.
The blogger has been making calls to the con– Gerald since February this year but nothing from his side not forgetting many unanswered texts.
In February, The Con agent sent an email to the blogger begging for his patience and forgiveness after he galloped his Ksh 87,000 medical and automotive Insurance cover.
“Most of insurance salesmen are thugs and masters of forgery. Last year I paid comprehensive and got a sticker, two months later someone knocked my car from behind and we had to involve insurance, to my surprise their records were reading that my car cover was third party.” a concerned KOT posted.
Last year but One, Benji Ndolo, the guy who is used to those things that rich kids do in America while there pretending to study is said to have been tracked down by auctioneers and humiliated at Nairobi CBD as his vehicle was towed away over unserviced loans had this to say.
“Si you give him a chance to redeem himself,..I have a car dealer friend who misappropriated my 200K but I gave him a second chance.” Ndolo posted a comment.
Sanlam can insure air in the KVDTA Scam yet cancels policies if their clients are involved in accidents. Mismanagement will bring down this company that is usually used for money laundering.
— Cyprian, Is Nyakundi (@CisNyakundi) March 3, 2020
Blogger Cyprian Nyakundi had earlier this year declared war on Sanlam Insurance after they cancelled his cover for allegedly “complaining” on Social Media.
“Sanlam pushing PR articles yet they insured air in the KVDA dam saga after being used to launder money for cartels. They usually cancel your insurance when involved in an accident especially if you complain! They don’t want “Unlucky” clients. Money laundering outfit!” the blogger posted on Facebook.
In March this year, Sanlam Kenya sank into a shock Sh1.53 billion net loss while the firm’s books citing largely on bad investment decisions.
The company was forced to write off Sh1.15 billion mainly related to bond investments in firms in financial distress, plunging it into losses from a Sh90.53 million net profit in the same period last year.
Some of the impaired assets include Sh574 million it had with troubled ARM Group (under administration) and Sh398 million in Real People Kenya – a credit-only micro-finance firm with links in South Africa.
ARM was placed under administration by Nigerian-owned UBA Bank over default of a Sh500 million overdraft on August 17, while Real People said earlier in the month it was unable to service the Sh1.26 billion bond issued in 2015 and was seeking to convert it into equity.