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Insurance Companies

Outcome-driven compliance solutions tailored for insurance companies in Kenya.

Sector Overview

Compliance, made fit-for-purpose

Insurance Companies

Insurance companies in Kenya are regulated by the Insurance Regulatory Authority (IRA) and must comply with AML/CFT requirements. We support insurers build compliance programmes that address the unique risks in the insurance sector.

Key Challenges We Solve

IRA compliance and reporting obligations
Policyholder due diligence and screening
Claims fraud detection and prevention
Beneficial ownership identification

How We Support

Money laundering, terrorism financing and proliferation financing (ML/TF/PF) risk assessments
Insurance-specific AML/CFT policy development
ML/TF risk assessments for insurance products
Compliance training for agents and brokers
Independent compliance audits
Regulatory engagement with IRA
Get sector-specific support
Outcomes

What you walk away with

Concrete, audit-ready compliance outcomes — not just paperwork.

Regulatory licensing and compliance advisory

Digital KYC framework development

AML/CFT compliance programme design

Product risk assessments for new offerings

Have a fintechs & digital paymentscompliance question?

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FAQ

Frequently Asked Questions

Common questions about Fintechs & Digital Payment Platformsin Kenya

Insurance companies must implement AML/CFT frameworks under POCAMLA and IRA guidelines, including customer due diligence, transaction monitoring, and suspicious transaction reporting.

Life insurance products with surrender values, single premium policies, and products allowing third-party payments typically carry higher ML/TF risk and require enhanced due diligence.

Insurers must identify and verify beneficial owners of corporate policyholders and trusts. We support design efficient processes for beneficial ownership identification and verification.

Insurance agents and brokers need AML/CFT awareness training covering red flags, reporting obligations, and customer due diligence requirements specific to insurance products.

Yes, we provide comprehensive preparation for IRA compliance audits, including gap assessments, policy reviews, and remediation support.