join BAK
Membership
The Bancassurance Association of Kenya (BAK) is an association bringing together Bancassurance Intermediaries licensed under the bancassurance regulations 2020
Overview
The Bancassurance Association of Kenya (BAK) is an association bringing together Bancassurance Intermediaries licensed under the bancassurance regulations 2020 It promotes collaboration, knowledge exchange, and advocacy to drive the growth and stability of bancassurance in Kenya. By becoming a member, institutions and intermediaries can influence the sector’s direction, access valuable resources, and expand their professional networks.
Advocacy and Representation
Participate in shaping industry policies through engagement with regulators, policymakers, and industry stakeholders. Have your interests represented in dialogues with the Insurance Regulatory Authority (IRA), Central Bank of Kenya (CBK), and other authorities.
Networking Opportunities
Connect with a dynamic network of institutions and professionals, fostering opportunities for collaboration and knowledge sharing.
Training and Capacity Building
Gain access to tailored workshops, seminars, and training programs aimed at boosting operational efficiency and staff expertise.
Industry Insights
Obtain exclusive data, market trends, and reports to inform strategic decision-making.
Compliance and Standards
Benefit from BAK’s commitment to ensuring its members operate in compliance with regulations and industry best practices.
Brand Credibility
Enhance your reputation by aligning with BAK’s standards of ethical practice and professional excellence.
Our Current Full Members
- KCB Bancassurance Intermediary
- I&M Bancassurance Intermediary
- Credit Bancassurance Intermediary
- Diamond Trust Bank Bancassurance Intermediary
- Stanbic Bancassurance Intermediary
- Equity Bancassurance Intermediary
- NCBA Bancassurance Intermediary
- HF Bancassurance Intermediary
- ABSA Bancassurance Intermediary
- Caritas Bancassurance Insurance Limited
- Family Bank Bancassurance Intermediary
- Kingdom Bancassurance Intermediary
- Co-op Bancassurance Intermediary
- Faulu Bancassurance Intermediary
- KWFT Bancassurance Intermediary
- NBK Bancassurance Intermediary
- Sidian Bancassurance Intermediary
- Standard Chartered Bancassurance Intermediary
- Sumac Microfinance Bancassurance Intermediary
- SBM Bancassurance Intermediary
- Eco Insurance Bancassurance Intermediary
- Rafiki Bancassurance Intermediary
- SMEP Bancassurance Intermediary
Requirements for Membership
Why Join BAK?
Why Join BAK?
Joining the Bancassurance Association of Kenya not only reinforces your organization’s dedication to excellence but also ensures that you are part of a collective shaping the future of Kenya’s bancassurance industry. It provides a platform for growth, learning, and influencing policy while enhancing your organization’s credibility in the sector.
Requirements for Membership
- Must be licensed by the Insurance Regulatory Authority (IRA) and the Central Bank of Kenya (CBK).
- Certificate of Incorporation.
- KRA PIN.
- Current valid IRA License.
- Principal Officer Confirmation Letter by IRA.
Fees and Charges
Membership Payment Details
| Account Details | |
|---|---|
|
Account Name |
Bancassurance Association of Kenya |
|
Bank Name |
I&M Bank Limited |
|
Account Number |
00102004811250 |
|
Branch |
Kenyatta Avenue |
|
SWIFT Code |
IMBLKENAXXX |
|
Bank Code |
57 |
|
Branch Code |
000 |
Membership Form
List of Activities Successfully Completed Initiatives
Advocacy Initiatives
Partnered with the IRA, CBK, and the Association of Kenya Insurers (AKI) to refine regulations governing bancassurance operations.
Research and Development
Collaborated with AKI to publish “State of Bancassurance in Kenya 2019–2023,” providing vital insights into the sector’s evolution. Released on 14th November 2024 by AKI.
Capacity Building Programs
Delivered multiple workshops and training sessions focusing on compliance, product innovation, and operational efficiency.
Networking Events
Hosted annual conferences and forums for stakeholders to address challenges, explore opportunities, and strategize for the future.
Development of Industry Guidelines
Established industry best practices to ensure consistency and professionalism among bancassurance intermediaries.
Public Awareness Campaigns
Launched initiatives to educate the public about bancassurance products, their benefits, and availability.
Member Support Initiatives
Assisted members in adapting to regulatory changes and implementing digital transformation strategies for better service delivery.
Our Objectives
- To be a non-profit association of Member companies off Kenya’s Bancassurance sector.
- To provide a central forum for Bancassurance sector interests, and to serve and represent those interests.
- To establish and maintain close contact with the government, sector regulators and to work with other recognized associations to responsibly co-ordinate the welfare of the Bancassurance players with national interests.
- To collect, collate and circulate statics relating to or affecting the interests of the Society’s Members and to provide information and advice on such interests.
- To decide on and obtain uniformity of standards, priorities and policies on all matters common to the business of the Society’s Members.
- To establish, defend and promote the industry’s public image by conduct, information, exhibition, media, publicity, or other appropriate means.
- To uphold best practice through continuous consultations with industry stakeholders with a view to understand and fulfill evolving needs.
- To encourage competition: The Society and its Members remain at all times respectful of the healthy competition which exists amongst Members.
- To issue periodical newsletters, bulletins or magazines and publish books, pamphlets or other literature on matters of interest to the Society's Members and to the Bancassurance sector.
- To maintain close co-ordination and liaison with the Insurance Regulatory Authority ("IRA"), the Central Bank of Kenya ("CBK") and other regulators, the Association of Kenya Insurers ("AKI"), all financial institutions, management or educational institutions, Universities, Federation of Kenya Employers ("FKE"), Kenya Association of Manufacturers ("KAM") and such other organizations for realizing the objects and purposes of the Society.
- To acquire, either by purchase, lease or otherwise, any property for the benefit of the Society, and also to sell, let, mortgage or charge or otherwise deal with, or dispose of, property belonging to the Society.
- To act jointly by federation, affiliation or otherwise with any organization having similar or kindred interests.
- To establish and operate such county or other branches as may from time to time be deemed necessary.
- Generally, to do all and any other thing that may be necessary or relevant for the realization of the objects and purposes of the Society directly or indirectly.
- To do all and such other things as are incidental or conducive to the attainment of any or all of the above objects.
- To raise and maintain a common fund by means of fees, donations, levies or subscriptions to be used and applied for carrying out these objects.
BAK 2nd Conference Moments
Relive the highlights of BAK’s 2nd Inaugural Conference, held in the beautiful coastal city of Mombasa. This landmark event brought together industry leaders, financial experts, and key stakeholders for a series of insightful discussions, workshops, and networking sessions.
