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Insurance sector urged to adopt AI to speed claims and combat fraud

Sacco ReviewMarch 29, 202605 mins

Players in Kenya’s insurance industry are being urged to embrace artificial intelligence (AI) to accelerate claims processing and curb fraud, amid growing concerns over delayed settlements and rising cases of fraudulent claims. The call comes at a time when customer trust and operational efficiency are being tested by persistent challenges in the sector. Data from…

IRA pitch camp in Western region for Bima Mashinani sensitization drive

Sacco ReviewMarch 26, 202605 mins

The Insurance Regulatory Authority (IRA) has pitched camp in Kakamega County for a four day interactive workshops to sensitise locals on its Bima Mashinani initiative. According to the Authority, Kakamega was chosen following minimal investment in insurance matter within the region. The organisers have planned to engage various stakeholders including the Media, March 24, Boda…

Kenya’s insurance sector in crisis as regulator takes over three firms.

Sacco ReviewMarch 11, 202604 mins

The Insurance Regulatory Authority (IRA) has placed three insurance companies under statutory management in a sweeping crackdown that signals deepening distress in Kenya’s insurance sector. Trident Insurance Company Limited (TIC), KUSCCO Mutual Assurance Limited and Corporate Insurance Company Limited (CIC) were all placed under statutory management on March 10, 2026, in a move that affects…

IRA holds insurance sensitization drive in Trans Nzoia County under Bima Mashinani Programme

Sacco ReviewDecember 18, 202504 mins

The Insurance Regulatory Authority (IRA) has intensified its nationwide sensitization campaign, taking its Bima Mashinani programme to Trans Nzoia County in an effort to strengthen public understanding of insurance and address persistent challenges in the sector. The outreach, which brought together key stakeholders at the Kitale National Polytechnic, was led by IRA board director Immaculate…

IRA deregisters 20 insurance brokers over non-compliance with statutory regulations

Sacco ReviewJuly 22, 202503 mins

The Insurance Regulatory Authority (IRA) has struck 20 brokerage firms off the industry’s register, citing non-compliance with statutory regulations. These firms are barred from conducting insurance transactions as of June 30, 2025. “The Insurance Regulatory Authority (IRA) hereby notifies the public of the de-registration of twenty insurance brokers under Section 196 of the Insurance Act,”…