A claims settling agent is a licensed entity authorised to receive, process, and settle insurance claims on behalf of an insurer. They are distinct from loss adjusters and investigators: where loss adjusters assess the quantum of a loss and investigators examine its circumstances, claims settling agents perform the administrative and financial function of actually processing and paying out approved claims. They are particularly common in medical, agricultural, and travel insurance, where high volumes of small claims require specialised handling capacity. All claims settling agents in Kenya are licensed by the IRA under Section 150 of the Insurance Act, Cap. 487.
Fees and Charges
| Fee / Charge | Current Amount (KES) | Proposed Amount — Draft Regs 2025 (KES) |
|---|---|---|
| Registration / licence fee | 3,000 | 10,000 |
| Annual renewal fee | 3,000 | 10,000 |
Qualification and Competency Requirements
| Requirement | Details |
|---|---|
| Academic qualification | Degree or diploma in insurance from a recognized institution of higher learning |
| Professional membership | Current Associate member of the Insurance Institute of Kenya (AIIK) or other recognized insurance professional body |
| Experience | Minimum 5 years working experience in claims management |
| Certificate of good conduct | Required for the Principal Officer |
| Corporate entity | Proof of sound financial standing required |
Operational Requirements
Claims settling agents must demonstrate that the volume of business likely to be available is adequate for a viable practice, and that their operations will be conducted in accordance with accepted professional standards. They must submit a certified copy of the certificate of incorporation or business name registration, and a curriculum vitae of the Principal Officer. As with all IRA service providers, the company name may not include “insurance” or “assurance” in a misleading manner.
Claims settling agents are required to submit annual statements of business to the IRA and comply with ongoing reporting obligations. They operate under mandates from individual insurers and must ensure timely, accurate settlement in line with policy terms.
Regulated by the Insurance Regulatory Authority (IRA) under the Insurance Act, Cap. 487, Laws of Kenya.
Summary: Kenya IRA Licence Fees at a Glance
| Licence Category | Current Licence Fee (KES) | Current Annual Fee (KES) | Proposed Licence Fee — Draft 2025 (KES) | Proposed Annual Fee — Draft 2025 (KES) |
|---|---|---|---|---|
| Long-Term Insurer | 150,000 | 150,000 | 500,000 | 500,000 |
| Reinsurer | 250,000 | 250,000 | 750,000 | 750,000 |
| Insurance Agent | 1,000 | 1,000 | 10,000 | 10,000 |
| Insurance Broker / MIP | 10,000 | 10,000 | 100,000 | 100,000 |
| Insurance Surveyor | 3,000 | 3,000 | 10,000 | 10,000 |
| Insurance Risk Manager | 3,000 | 3,000 | 10,000 | 10,000 |
| Insurance Investigator | 3,000 | 3,000 | 10,000 | 10,000 |
| Claims Settling Agent | 3,000 | 3,000 | 10,000 | 10,000 |
Note: The proposed fees under the draft Insurance Regulations 2025 were published for public comment in October 2025, with the comment period closing on 21 November 2025. The revisions represent the first fee adjustment since 1995. Confirm current applicable fees on ira.go.ke or via the IRA’s eCitizen portal before submitting any application.
Sources: Insurance Regulatory Authority (ira.go.ke) — Licensing pages for Insurers & Re-insurers, Agents, Brokers, and Service Providers; Insurance Act, Cap. 487 (Laws of Kenya); Insurance Regulations, Legal Notice 312 of 1986 (revised 2022); Business Daily Africa, Capital FM, The Kenya Times — coverage of draft Insurance Regulations 2025; Bowmans Law, November 2025.