Tuesday, August 30, 2016

How to Register as a Motor Insurance Assessor

Are you interested in starting a career as a motor insurance assessor? The role of a motor insurance assessor is to assess damaged motor vehicles to ascertain repair costs and make recommendations. They also provide post-loss valuation estimates for stolen and written-off vehicles.

The registration requirements of motor insurance assessors is laid out in Section 150 of the Insurance Act Cap 487 of the laws of Kenya. The following are the requirements.


General Registration Requirements for Motor Insurance Assessors

  1. An application in the prescribed form together with appendices. The form may be obtained from the Insurance Regulatory Authority (IRA) Offices or their website (ira.go.ke).
  2. The applicant should demonstrate the volume of business that is likely to be obtained and that the earning prospects are adequate. 
  3. Demonstrate that the business in respect of which the application is made will be conducted in accordance with accepted professional standards.
  4. In case of a company, proof that the financial standing of the applicant is sound.
  5. Confirmation by the Principal Officer of the Insurer for whom the applicant proposes to act as an Insurance service provider certifying that the applicant has the knowledge and experience necessary to act as a Service Provider.
  6. Curriculum Vitae of the Principal Officer who shall be a partner in case of a partnership or a shareholder in case of a company.
  7. Registration fee Kes. 3,000 payable to the Insurance Regulatory Authority. 
  8. A certified copy of certificate of incorporation if the firm is a limited company or a certificate of registration of business name.
  9. The name of the company should be in order and in line with section 190 of the Insurance Act. 

Specific Requirements for Motor Insurance Assessors

  1. The applicant must have passed or been exempted from Certificate of Insurance (COP) examination with a pass in Motor Insurance for motor assessors. The exam is offered by the College of Insurance. 
  2. The applicant should have a qualification in engineering.
  3. The Principal Officer should have at least five years experience in motor assessment.

Source

Insurance Regulatory Authority

Suggested Reading

How to register as an insurance investigator

How to register as an insurance loss adjuster

How to register as an insurance surveyor/risk manager

How to register as an insurance claims settling agent

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