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
REF: CCO/07
Job purpose
The position is responsible for providing professional and efficient front office services to uphold corporate image and facilitate seamless operations of the Authority
REF: CRO/04
Job Purpose
The job holder is responsible for implementing strategies aimed at enhancing and maintaining service delivery and customer experience for increased customer satisfaction
REF: RIA/12
Job purpose
The job holder will support the research and innovation Department in implementation of programs and projects as well as to collect, analyse data and writing of reports.
REF: RIO/03
Job purpose
The job holder will support the research and innovation Department in implementation of programs and projects as well as to collect, analyse data and writing of reports.
REF: AFA/10
Job purpose
The position is responsible for assessing and monitoring the financial soundness of the industry, conducting macro-prudential surveillance, data analytics, reporting, and
REF: AA/09
Job purpose
The position is responsible for collection of data to be used for analysis and preparation of actuarial reports.
Job Specifications
Duties and responsibilities wi
REF: SA/08
Job purpose
The position is responsible for preliminary analysis; collecting, cleaning and checking completeness of data for use in various analysis.
Job Specifications
The duti
REF: CPA/11
Job Purpose
The position is responsible for safeguarding the interest of policy holders and beneficiaries, strengthening public trust and consumer confidence in the insurance sector.
REF: CPO/02
Job purpose
The position is responsible for safeguarding the interest of policy holders and beneficiaries, strengthening public trust and consumer confidence in the insurance sector.
REF: SO/01
Job purpose
The position is responsible for carrying out prudential supervision, licensing and enforcement to ensure financial soundness and proper governance of regulated entities.
DIVISION/SECTION Technical
GRADE/LEVEL IRA 8
IMMEDIATE SUPERVISOR Manager, Actuarial Services
PURPOSE OF THE JOB (JOB SUMMARY)
Responsible for the implementation of actuarial policies and pr
DIVISION Technical
GRADE/LEVEL IRA 8
IMMEDIATE SUPERVISOR: Head, Supervision
PURPOSE OF THE JOB (JOB SUMMARY)
Carrying out on-site and off-site supervision of regulated entities
PRINCIPAL R
DIVISION/SECTION Consumer Protection
GRADE/LEVEL IRA 6
IMMEDIATE SUPERVISOR
Manager, Consumer Protection
PURPOSE OF THE JOB (JOB SUMMARY)
Responsible for coordinating customer service activit
DIVISION/SECTION Corporate Communication
GRADE/LEVEL IRA 6
IMMEDIATE SUPERVISOR
Head, Corporate Communication
PURPOSE OF THE JOB (JOB SUMMARY)
Responsible for implementation of communication
Job Summary
Responsible for undertaking independent, value-adding and objective systems audit aimed at improving operational efficiency and internal controls system.
Education and knowledge
Job Summary
Responsible for ensuring that procurement and supplies processes are carried out effectively andefficiently to achieve the Authority’s objectives.
Education and knowledge
Job Summary
Reporting to the Chief Executive Officer, the Chief Information Officer (CIO) job exists to overseeand coordinate the ICT function, and advise the Hospital Management on the same at KUT