Welcome to Bimahub: An innovation hub for the Insurance Regulatory Authority
IRA
IRA

Email

innovationhub@ira.go.ke

ELIGIBILITY, APPLICATION AND APPROVAL PROCESS

ELIGIBILITY, APPLICATION AND APPROVAL PROCESS

  • The Applicant must be a registered business in Kenya and must satisfy the criteria set in before Regulatory Sandbox Application Form to the Authority
  • "Application Stage” - The Authority shall review the proposal and endeavour to inform the Applicant of its potential suitability for a Sandbox within 21 working days after the Authority receives a complete and final set of information necessary for the assessment
  • "Evaluation Stage” - the time required to assess the proposal is dependent on its complexity and the specific legal and regulatory requirements involved. Due to the exploratory nature of the Sandbox approach, the Applicant is allowed to make adjustments to the proposal for resubmission after discussing with the Authority. The Applicant would be informed in writing whether to proceed with the Sandbox.
  • The Sandbox is launched into the “In-Progress Stage”.