AddressP.O BOX 43505 - 00100 NAIROBI Zep- Re Place Longonot Road - Upper Hill, Nairobi
About Insurance Regulatory Authority (IRA)
Vision:
To be the leading insurance industry regulator.
Mission:
To effectively regulate, supervise, develop the insurance industry and protect insurance beneficiaries.
Core Values:
(i)Accountability: -We exercise prudence in use of public resources entrusted to IRA.
(ii)Team Spirit: -... read moreWe work effectively with others across functional lines to accomplish objectives.
(iii)Transparency: -We promote openness and candidness.
(iv)Integrity: -We will serve our customers in an impartial, effective and professional way with the highest ethical standards.
(v)Customer focus:-We are committed to achieving the highest levels of customer satisfaction.
(vi)Creativity: -We believe in continuous improvements in the conduct of our business.
The Insurance Regulatory Authority is a statutory government agency established under the Insurance Act (Amendment) 2006, CAP 487 of the Laws of Kenya to regulate, supervise and develop the insurance industry. It is governed by a Board of Directors which is vested with the fiduciary responsibility overseeing operations of the Authority and ensuring that they are consistent with provisions of the Insurance Act.
The Authority is a precursor to the then Office of the Commissioner of Insurance that came into existence with the enactment of the Insurance Act, CAP 487 in 1986. Prior to this, insurance regulation was based on the UK legislation under the Companies Act 1960.
In executing our mandate, we adhere to the core principles of objectivity, accountability and transparency in promoting not only compliance with the Insurance Act and other legal requirements by insurance/reinsurance companies and intermediaries but also sound business practices. We therefore practice regulation and supervision that enables industry players to be innovative and entrepreneural. Bearing in mind industry differences in terms of size, extent and complexity, necessitating changes in operating and investment decisions helps cut down on compliance costs. Since in the long run, this has impacts on productivity and growth of the insurance sector, the Authority deploys significant resources in monitoring market behaviors, compliance and solvency issues.
In line with the Insurance Act, the functions of IRA are to:
The Authority works collectively and individually with Industry players in achieving the following fundamental insurance regulatory objectives:
(i)Ensure compliance by insurance/reinsurance companies and intermediaries with legal requirements and sound business practices;
(ii)Promote voluntary compliance;
(iii)Set clear objectives and standards of intervention for insurance/reinsurance companies and intermediaries or type of intervention;
(iv)Protect consumers and promote high degree of security for policyholders;
(v)Promote efficient, fair, safe and stable markets;
(vi)Maintain the confidence of consumers in the market;
(vii)Ensure insurance/reinsurance companies and intermediaries remain operationally viable and solvent; and
(viii)Establish a transparent basis for timely, appropriate and consistent supervisory intervention, including enforcement
Insurance Regulatory Authority (IRA) Jobs in Kenya
Job Specifications
Duties and responsibilities at this level will entail:
Coordinating the development, implementation and review of ICT polices, strategies, programs, standards budgets and w
Job Specifications
Duties and responsibilities at this level will entail: -
Guiding line managers and staff in the implementation of Human Resource management strategies, policies and procedu
Job Specifications
Duties and responsibilities will entail:
Implementing the IRA communications & Customer relations policies, strategies, procedures and plans.
Planning and implem
Job Specifications
The duties and responsibilities will entail:
Assisting in implementing the IRA communications & Customer relations policies, strategies, procedures and plans.
As
Job Specifications
Providing effective leadership to the customer service team, guiding and motivating staff to achieve departmental goals.
Developing and implementing strategies to enhan
Job Specifications
Duties and responsibilities will entail:
Providing expert assistance and supervision to customer care assistants, addressing inquiries, resolving issues, and ensuring overa
Job Specifications
Duties and responsibilities will entail:
Managing incoming and outgoing calls and route to appropriate persons.
Directing enquiries from external stakeholders to relevant
Job Specifications
Duties and responsibilities will entail:
Managing incoming and outgoing calls and route to appropriate persons.
Directing enquiries from external stakeholders the relevan
Job Specifications
Duties and responsibilities at this level will entail:
Overseeing the maintenance of office equipment, fixtures and furniture.
Directing and planning essential centr
Job Specifications
Duties and responsibilities will entail:
Implementing security policies, standards, procedures and regulations.
Identifying routinely all potential security risks wi
Job Specifications
Duties and responsibilities at this level will entail:
Receiving mails, opening, sorting and dispatching to the recipients.
Maintaining registers for incoming and ou
Job Specifications
Duties and responsibilities at this level will entail:
Receiving mails, opening, sorting and dispatching to the recipients.
Maintaining registers for incoming and ou
Job purpose
The position is responsible for implementing strategies aimed at prudent management of the Authority’s financial resources through planning, financial management and control, a
Job purpose
The position is responsible for ensuring that insurers manage the risks they are exposed to and coordinating the supervision of insurance intermediaries and service providers on an o
Job purpose
The position is responsible for ensuring that all the actuarial work is done accordance with the requirements of the Insurance Act including providing up to date reports upon analysis o
Job purpose
To ensure efficient registration and exit from the market of insurers and ensure that the provisions of the Insurance Act, rules, regulations, guidelines, circulars and other dire
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