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 Summary
Responsible for coordinating customer service activities and ensuring provision of quality customerservice so as to attain high levels of customer satisfaction through enhanced service
Job Summary
Responsible for receiving and implementing effective complaint handling policies and procedures
Education and knowledge
Bachelors degree in a business or insurance related fiel
Job Summary
Responsible for effective supervision (off-site and on-site), regulation and development of insurers, intermediaries and service providers
REQUIRED QUALIFICATIONS
Education and kn
Job Summary
Responsible for providing legal and regulatory services
Education and knowledge
Bachelors degree in Law;
Diploma of Law from the Kenya School of Law;
Certified Public Secre
Job Summary
Carrying out on-site and off-site supervision of regulated entities
REQUIRED QUALIFICATIONS
Education and knowledge
Bachelors’ degree in economics, insurance, accounti
Job Summary
Carrying out on site and off site supervision of regulated entities
REQUIRED QUALIFICATIONS
Education and knowledge
Bachelor’s degree in insurance/ actuarial/ economic
Job Summary
Responsible for the implementation of actuarial policies and procedures as well as monitoring andevaluating their effectiveness in achieving the Authority’s goals and objectives
Job Summary
Responsible for compiling and posting general ledger information and summaries concerning various financial transactions in order to ensure accurate and timely maintenance of ac
Job Summary
The Human Capital Development Assistant is responsible for carrying out operational HR services.
REQUIRED QUALIFICATIONS
Education and knowledge
Bachelors degree in human re
REQUIRED QUALIFICATIONS
Education and knowledge
Bachelor’s Degree in a relevant field;
Diploma in Archives and Records Management; and
Knowledge of ICT
Experience
Five (5
The Authority is seeking applications from qualified graduates for an internship programme in selected Divisions/Sections.
1 DIVISION/SECTION: TECHNICAL DIVISION JOB REFERENCE: REF TD/01NO. of vacanc
Immediate Supervisor: Corporation Secretary/Chief Manager, Legal Affairs
Job Summary
Responsible to the Corporation Secretary/Chief Manager, Legal Affairs for effective review and interpretation of
Coordinate the supervision of regulated entities to ensure prudent regulation/supervision of all registered General insurance companies.
Responsibilities
Ensure the risk profiling of all general i
Purpose of the Job
Responsible for establishing relationships with external stakeholders, ensuring that linkages and synergies with other IRA programmes and task forces/committees are exploited and f