Insurance Regulatory Authority to Train Agents across the Country

The collaboration between the Insurance Regulatory Authority and the College of Insurance to train insurance agents across the 47 counties is the greatest opportunity that the public members should exploit. The objective of the partnering endeavor is to train, examine, and issue certificates of proficiency in insurance to the public and insurance agents. IRA and College of Insurance intends to impact knowledge of insurance to all Kenyans in order to enable them earn income through carrying out the selling insurance policies. The training will also enlighten the public on the necessity of buying insurance to meet their own needs.

In my previous works, I had pointed out that lack of knowledge about the existence and necessity of insurance among the public has been the main hindrance to growth of insurance industry. Coming across this opportunity has given me a sense of delight because my fellow Kenyans have the chances to be enlightened. We are no longer going to live like those days of our grandparents when there was no hope beyond a misfortune. Additionally, IRA and College of Insurance (thank God we have such caring corporations) have made the training free of charge. Most of us may think that the training is meant to benefit the insurance stakeholders; however, the training will be critical to us the public members in the long-run.

Sammy Makove, the Commissioner of Insurance Regulatory Authority, argued that the acceptance of insurance services by local investors is a critical milestone in guaranteeing economic growth and stability. This is because insurance protects businesses from closure due to calamities. Makove added that training of insurance agencies will create demand for insurance services through sensitization and increase supply of insurance policies through the agents.

Let me assume that the training has enlightened me on the importance of having an insurance cover. The next step is to visit the nearest insurance company and invest whatever small amount I have in my pocket. Currently, I have no formal employment from where the government can deduct money for my pension. Twenty years later after old age has stricken and I have stopped selling carrots in Githurai Kimbo, I will have saved a sum equal to 2,000x12x20=sh. 480,000. With this “little” sum of money, I will not find myself stealing “KANU” (cock) from Alexander’s home, just as Makoha did (in this Vioja Mahakamani clip I am watching in the IRA website). Since most people do not have financial discipline, keeping money “out of reach of spendthrift fingers” is the only option for discipline reinstatement.

Insurance agents training in Kirinyaga County will take place between 7^th and 18^th of October 2013. The training has been done in other counties such as Kitui, and will be implemented in all counties across the country. In Kitui alone, 105 participants received certificates from the College of Insurance. I understand that information begins to flow to one person, who in turn transmits the whole lot to the following generations. I want to see a country where every citizen has some form insurance for his or her own benefit. Banks and other financial institutions cannot instill proper financial discipline among us since withdrawals are not very strict. When I studied a small course in Insurance, I noted that without insurance the nation heads nowhere. The main reason for this is that the dependence ratio especially at old age reduces the funds available for savings and investment. According to Sammy Makove, “a stable business environment that is devoid of threats by calamities would create wealth and expedite the achievement of Vision 2030.”

The training is open to Kenyans over 18 years of age, literate and able to communicate in English. After two weeks, successful candidates are awarded Executive Certificate of Proficiency (ECOP). The training will enable the trainee to obtain employment using the ECOP. Another benefit of the training is that it will provide an additional source of income for those already engaged in other trades. The best of all is that there will be increased knowledge and understanding of insurance among the members of the public.