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 Purpose
The job holder will support the Research and Innovation Department in implementing programs and projects, as well as collecting, analyzing data, and preparing reports.
Job Specificatio
Job Purpose
The Office Administrators are responsible for inquiries, providing secretarial services, and attending to clients in the Office of Director Market Conduct and Director Corporate Services.
Job Purpose
The position is responsible for assessing and monitoring the financial soundness of the industry, conducting macro-prudential surveillance, data analytics, reporting, and publication with
Job Purpose
The position is responsible for reviewing data collected for accuracy and completeness, analyzing data, and preparing reports.
Job Specifications
Duties and responsibilities will enta
Job Purpose
The position is responsible for developing, planning, and implementing effective records management and ensuring the appropriate management of the Authority’s records from document
Job Purpose
The position is responsible for the coordination of the development and implementation of administration policies and procedures in line with the Authority’s Corporate strategy to e
Job Purpose
The position is responsible for the operations management of the Supply Chain Management function. Advising the user department on the best procurement practices while ensuring continuous
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 directives
Job purpose
The position is responsible for planning, advising, directing human resources programs such as staff training and development, recruitment and selection, onboarding, reward management, pe
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, analys
Job purpose
The position is responsible for coordinating the supervision of insurance intermediaries and service providers on an ongoing basis to ensure that the risks they pose are effectively manag
Job purpose
The position is responsible for ensuring that all the actuarial work is done in accordance with the requirements of the Insurance Act, including providing up-to-date reports upon analysis
Job Purpose
This position is responsible for establishing and maintaining IRA’s positive reputation and brand image through effective corporate communication strategies and practices, media m
Job Purpose
The position is responsible for ensuring efficient registration and exit from the market of insurers and ensure that the provisions of the Insurance Act, rules, regulations, guidelines
REF: DRV/37
Job purpose
The position is responsible for driving staff and authorised persons to assigned duty stations, and ensuring routine checks and maintenance of vehicles is performed.
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REF: OA/36
Job purpose
Responsible for ensuring all the support services in the Authority are fully operational and both external and internal customers are attended to including delivery of int
REF: HRMA/35
Job purpose
The job holder will handle the daily administrative and Human Resource duties such as, training and development, selection and recruitment, record maintenance and payrol
REF: SCMA/34
Job Specifications:
The position is responsible for stores management.
Job Specifications:
Duties and responsibilities will entail:
Receiving and issuing stores;
Generat
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