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Insurers shift to IRA customs bond verification platform after Kenswitch fallout
Port of Mombasa. Lobby says insurers migrated to the charge-free IRA platform last year following a dispute over a 0.125 percent fee required to use Kenswitch.
Insurance companies in Kenya have shifted to a customs bond verification platform owned by the Insurance Regulatory Authority (IRA) after a fallout with an intermediary firm, Kenswitch, over service fees.
The insurers’ lobby, the Association of Kenya Insurers (AKI), says the underwriters migrated to the charge-free IRA platform last year following a dispute over a 0.125 percent fee required to use Kenswitch.
