The Insurance Regulatory Authority of Kenya (IRA) is the sole authority charged with regulation and supervision of the insurance industry within the Republic of Kenya. It ensures compliance by insurance/reinsurance companies, protects consumers and promotes a high degree of security for policyholders.

REF: MRI/06

Job Purpose

The position is responsible for generating knowledge and information to inform policy and decision making through research and innovation. The position will support in formulating, implementing monitoring and evaluation policies and practices that support promotion of access, inclusion and market development in the Insurance industry.

Duties and responsibilities will entail:

Managerial / Supervisory Responsibilities

• Formulating and implementing the research and innovation policies, objectives and initiatives in line with the Authority’s strategic agenda.
• Identifying and implementing accelerated new and innovative solutions within a focused ecosystem through collaboration and partnerships.
• Share information on the innovation hub while consumer protection safeguards into products and to promote new ideas and innovations in line with objectives of supervision.
• Identify linkages with research and learning Institutions for effective and mutually beneficial research and development.
• Identify innovative challengers through innovation and competition to promote access and inclusion in the insurance industry.
• Review literature on developments in  technology and innovation through continuous engagement with regulated entities and tech start-ups.
• Initiate and organize workshops and share information through outreach (e.g. meetings, seminars, workshops, conferences, publications) Manage intellectual property in innovations for enhanced information sharing.
• Develop proposals based on the identified innovation strategy and work with partners to access financial and technical support
• Implementation of programmes aimed at promoting adoption and growth of innovative insurance products and services
• Participation in joint research activities, innovation and sharing of results
• Carry out multi-disciplinary research projects on current and emerging issues on the insurance industry

Operational Responsibilities / Tasks

• Prepare and implement the Department’s annual budgets, annual work plans, procurement and disposal plan in compliance with the applicable laws and regulations;
• Development of research proposals.
• Participate in information sharing through meetings, seminars, workshops and conferences
• Identify areas for further research and innovation.
• Work with consultants and other outsourced researchers
• Develop progress reports on research and innovative initiatives for consideration in the regulatory sandbox and bimalab
• Supervise and evaluate performance of direct reports
• Prepare progress report on research and innovation on a periodic basis

Persons Specifications

• A Master’s Degree in Economics, Insurance, Risk Management, Statistics, Insurance, actuarial, ICT, Law, Finance, Financial Engineering, Commerce, Business Management or related Social Sciences from a recognized institution;
• A Bachelor’s Degree in Economics, Insurance, Risk Management, Statistics, Insurance, actuarial, ICT, Law, Finance, Financial Engineering, Commerce, Business Management or related Social Sciences from a recognized institution;
• Project Management Course
• Certificate in Computer Proficiency
• Research Methods Course
• Proficiency in relevant data analysis software (SPSS, STATA, R)
• Management Course lasting not less four (4) weeks
• Supervisory Course lasting not less than 2 weeks
• Nine (9) years of relevant experience
• Meets provision of chapter six of the Constitution

d) Competencies and skills

• Strong communication and reporting skills;
• Strong analytical and numerical skills;
• Strong organization and interpersonal skill;
• Mentoring, coaching and leadership skills;
• Conflict management; and
• Ability to work under pressure, prioritize and multi-task