The Microinsurance Policy Paper maps out the Insurance Regulatory Authority’s (IRA) future path in the regulation and supervision of microinsurance in Kenya. It spells out the strategic approach chosen, and the principles and key elements underlying this process. The paper makes policy recommendations that lay the foundations for the drafting of a legal and regulatory framework aimed at enabling the microfinance market to develop in a sound and customer-oriented environment. Microinsurance is considered to have considerable potential for helping low-income households to manage their financial risks, for assisting insurers and intermediaries to expand their markets and for providing governments with a way to rely on privately-driven insurance in place of state funding schemes.
Insurance Regualtory Authority and Kenya Vision 2030