Full List of Licensed Risk Managers in Kenya

Risk management is a critical aspect of Kenya’s insurance industry, ensuring that businesses and individuals are safeguarded against potential financial losses. Licensed risk managers play an integral role in providing advisory services on loss prevention, helping insurers establish terms, conditions, and warranties in insurance policies. These measures help minimize loss and mitigate risks that could have a significant impact on the insured parties.

In Kenya, risk managers are licensed and regulated by the Insurance Regulatory Authority (IRA), which ensures that these companies operate within legal frameworks and adhere to set standards.

What Do Risk Managers Do?

Risk managers work closely with insurers to analyze potential risks and recommend measures to mitigate them. They help businesses identify and understand their risk exposures, from operational risks to environmental hazards. This process is essential in industries like construction, manufacturing, healthcare, and logistics, where risk assessment is crucial for business continuity and safety.

Here are some of the core functions of risk managers in Kenya:

• Loss Prevention: Advising on strategies and measures to prevent or reduce potential losses.
• Risk Assessment: Identifying and evaluating risks that might affect a business or an insured asset.
• Policy Recommendations: Providing technical advice on terms, warranties, and conditions to include in insurance policies to mitigate risk.
• Compliance Support: Ensuring that businesses adhere to regulatory requirements to avoid potential penalties and losses.

List of Licensed Risk Managers in Kenya (2024)

The following is the list of licensed risk managers in Kenya, as of 2024, with their corresponding license numbers:

Top Risk Management Firms to Consider

While the entire list includes reputable firms, some companies have earned recognition for their extensive experience and client-focused services. For example:

1. Minet Kenya Consulting Limited is well-known for providing comprehensive risk management solutions, including advisory services in risk finance, property risk assessment, and employee benefits.
2. Continental Adjusters (Kenya) Limited, which also offers loss adjustment services, has diversified its portfolio to include risk management. Their expertise in multiple sectors helps them provide in-depth risk mitigation strategies.
3. Alpha Risk Management Limited has a reputation for developing customized risk control and loss prevention programs for businesses in diverse industries.

Choosing the Right Risk Management Partner

Selecting the right risk manager is crucial for businesses looking to protect their assets and financial well-being. Here are some factors to consider when choosing a risk management firm:

• Experience in the Industry: Choose firms with a proven track record and expertise in your specific sector.
• Comprehensive Services: Ensure that the risk manager offers a full range of services, from risk assessment to advisory and compliance support.
• IRA Licensing: Verify that the firm is licensed by the Insurance Regulatory Authority (IRA), ensuring adherence to regulatory standards.

Insurance Regulatory Authority (IRA) Contacts

If you have any inquiries or require assistance regarding licensed risk managers, you can contact the Insurance Regulatory Authority (IRA):

• Call: 0719 047000 / 020 4996000
• Email: commins@ira.go.ke
• Head Office: Zep-Re Place, Longonot Road, Upper Hill, Nairobi

Licensed risk managers in Kenya play an essential role in maintaining the integrity of the insurance industry and helping businesses manage uncertainties. By working with these professionals, companies can not only reduce their risk exposure but also ensure compliance with industry standards. This list of licensed risk managers provides a starting point for businesses seeking reliable partners to help navigate the complex landscape of risk in today’s dynamic environment.