The objectives of the Association of Kenya insurers include:-
- Enhancement of professionalism for effective management of the industry;
- Enhancement of underwriting standards and development of best practice guidelines;
- Creation of positive image of the industry through public education;
- Lobbying Government for the creation of an enabling legislative environment
The Association was established in the year 1987 to bring together insurers
transacting insurance business in Kenya for the purposes of:
- Protecting, promoting and advancing the common interests of members including the taking of such concerted measurers as may be deemed expedient whenever the business of the members of the Association may be affected by the action or proposed action of any authority, organization, body or person, and to acting as a medium of consultation and communication with the Government.
- Promoting agreement and co-operation among its members on matters of mutual interest and providing machinery for the examination and reconciliation of any differences;
- Doing all such things as may be necessary, proper or advisable for the general advancement of insurance business or which may be necessary for or incidental or conducive to the attainment of any of the objects of the Association;
- Promoting knowledge and a clearer understanding of insurance among all sections of the community;
- Gathering and collating data, information and market-wide statistics from members of the Association, for the purpose of determining market trends and satisfying any other requirements set by the Board from time to time;
- Consulting or co-operating with other Associations or similar bodies within and outside Kenya in regard to matters of mutual interest and if deemed necessary obtaining affiliation with such Associations;
- Managing the assets and funds realized from contributions by members and out of investments for the benefit of the members.
The Code of Practice
The Association has a Code of Practice whose objective is to promote underwriting discipline,protect and promote the reputation of insurers, promote corporation among members, avoid unhealthy competition and facilitate orderly expansion of insurance business in Kenya.
Membership to the Association is open to any Insurance Company registered and licensed under the Insurance Act to transact business in Kenya
The Board runs the Affairs of the Association assisted by the AKI Secretariat. The main objective of the Secretariat is provide administrative and technical support to the Board, the Councils and other organs of the Association.