Business

Diploma in Insurance and Risk Management

The Diploma in Insurance and Risk Management is a programme that equips students with knowledge and practical skills in risk assessment, risk control, insurance principles, claims management, underwriting and financial management. Offered at Tharaka University and The East African University, the programme prepares students for careers in insurance companies, risk management departments and financial services organisations.

The curriculum covers principles of insurance, risk management theory, insurance law, life and general insurance, underwriting principles, claims management, reinsurance, insurance regulation, financial accounting, business mathematics, investment principles, corporate governance, communication skills, entrepreneurship and industrial attachment. Students develop both analytical and practical insurance and risk management skills.

Kenya's insurance sector is growing, with increasing demand for trained professionals who can assess risks, manage insurance operations and support claims processing. The programme responds to the need for qualified personnel in insurance companies, brokerage firms, corporate risk management departments and the Insurance Regulatory Authority.

The programme is delivered through lectures, case studies, field visits to insurance companies, research projects, group discussions and industrial attachment. Students gain hands-on experience in underwriting, claims processing, risk assessment and insurance operations through attachment at insurance companies, brokerage firms or corporate risk departments.

Graduates pursue careers as insurance underwriters, claims officers, risk management assistants, insurance sales agents, brokerage assistants and compliance assistants in insurance companies, brokerage firms, corporate organisations and regulatory bodies. They can also progress to a Bachelor of Commerce in Insurance or related degree programmes.

Prospective students should have interest in finance, risk assessment and insurance. The programme is suitable for students seeking careers in insurance, risk management and financial services.

Duration: 2 years
Public, up to: Ksh 78,250
Private, up to: Ksh 90,500
Job market: Moderate

The programme

What you study, how long it takes, and how it is delivered.

Practicalities

Study mode: Full-time, Blended Learning
Attachment: 3 months
Average class: 30 students
Award: Diploma

What you study

8 subjects

Principles of Insurance and Risk Management Theory
Insurance Law and Regulation
Life and General Insurance, Underwriting and Claims
Reinsurance and Corporate Risk Management
Financial Accounting and Business Mathematics
Investment Principles and Corporate Governance
Insurance Operations and Compliance
Entrepreneurship, Communication Skills and Industrial Attachment

Modules

8 in the programme

Principles of Insurance and Risk Management Theory
Year 1Semester 13 creditsCore
Covers risk concepts, risk management process, insurance principles, types of insurance, insurance markets, insurable interest, indemnity and subrogation.
Insurance Law and Regulation
Year 1Semester 13 creditsCore
Covers insurance law, contract law, insurance regulation, IRA Act, consumer protection, insurance dispute resolution and legal frameworks governing insurance in Kenya.
Life and General Insurance, Underwriting and Claims
Year 1Semester 23 creditsCore
Covers life insurance, general insurance, motor insurance, property insurance, marine insurance, underwriting principles, claims processing and claims assessment.
Reinsurance and Corporate Risk Management
Year 1Semester 23 creditsCore
Covers reinsurance principles, treaty and facultative reinsurance, corporate risk management, enterprise risk management, risk financing and risk transfer.
Financial Accounting and Business Mathematics
Year 2Semester 13 creditsCore
Covers financial accounting, insurance accounting, premium calculation, reserves, business mathematics, statistics for insurance and financial reporting.
Investment Principles and Corporate Governance
Year 2Semester 13 creditsCore
Covers investment principles, insurance investment, portfolio management, corporate governance, ethics in insurance and compliance frameworks.
Insurance Operations, Entrepreneurship and Communication
Year 2Semester 23 creditsCore
Covers insurance operations, policy administration, customer service, insurance marketing, entrepreneurship, communication skills and business plan development.
Industrial Attachment and Insurance Project
Year 2Semester 26 creditsCore
A three-month industrial attachment at an insurance company, brokerage firm or corporate risk department, plus an insurance or risk management project assessed through a report.

Specialisations

Underwriting
Focuses on risk assessment and underwriting for careers as insurance underwriters.
Claims Management
Specialises in claims processing and assessment for careers as claims officers.
Corporate Risk Management
Focuses on enterprise risk management for careers as risk management assistants.
Insurance Brokerage
Specialises in insurance brokerage operations for careers as brokerage assistants.

A day as a student

A typical day begins with a morning lecture on insurance principles or risk management theory, followed by a seminar on underwriting or claims management. Afternoon sessions may include a case study on insurance law, a group discussion on reinsurance, or a workshop on financial accounting. Students also work on insurance projects and prepare for industrial attachment.

The trade offs

In its favour

Kenya's insurance sector is growing, with demand for trained professionals in underwriting, claims and risk management.
The programme offers diverse career paths including analytical, operational and sales roles.
Graduates can progress to a Bachelor of Commerce in Insurance or related degree programmes.

Against it

The insurance sector in Kenya has relatively low penetration, which may limit some job opportunities.
Professional certification through the Insurance Institute of Kenya may be required for career advancement.

What it costs

Tuition at both ends of the market, and how to pay for it.

What it costs, and where

Against 331 business courses

Public67k to 78k

67k at TVET institutions (KUCCPS rate)78k at College of Insurance

Private91k to 91k

91k at Institute of Pension Management91k at Institute of Pension Management

Annual tuition in Kenyan shillings, rounded. The upright tick is the median for this field, so a bar sitting entirely to its right is an expensive programme by the standards of its own subject.

The fine print

COI 78K/yr tuition (eafinder.com), TVET 67K. IPM 90.5K/yr (ipm.ac.ke).

Students can access HELB loans. Insurance companies may offer sponsorships for students committed to careers in the insurance sector.

Funding options

HELB Loan

Scholarships

1 recorded

HELB Loan
LoanKsh 40,000Kenyan
Kenyan students enrolled in accredited programmes at recognised institutions

Getting in

The grades, the alternatives, and who accredits the award.

What you need

KCSE mean grade: C-
Alternative entry: Certificate in a relevant field from a recognised institution, or equivalent qualification.

How you are assessed

4 components

Continuous Assessment Tests
Written examination30% of the mark
Mid-semester and end-of-semester written tests covering insurance principles, law, underwriting and claims.
Coursework Assignments
Assignment30% of the mark
Assessment of case studies, essays, presentations and group projects on insurance and risk management topics.
Insurance Research Project
Project40% of the mark
A research project on an insurance or risk management topic, assessed through a written report and oral presentation.
Industrial Attachment Report
Practicum100% of the mark
Assessment of performance during industrial attachment at an insurance company, brokerage firm or corporate risk department.

Accreditation

Accredited by the Commission for University Education (CUE). The programme is offered at Tharaka University and The East African University.

Accredited by

Commission for University Education
AcademicRequired
Accredited by the Commission for University Education (CUE). The programme is offered at Tharaka University and The East African University.

Where it leads

The roles it opens, and what you leave with.

Where graduates go

4 roles

Insurance Underwriter
Moderate demandKsh 35,000 to Ksh 200,000
Assesses insurance applications, evaluates risks, determines premiums and policy terms, and makes underwriting decisions in insurance companies.
Claims Officer
Moderate demandKsh 32,000 to Ksh 180,000
Processes insurance claims, investigates claim validity, assesses damages, negotiates settlements and ensures timely claims resolution.
Risk Management Assistant
Moderate demandKsh 30,000 to Ksh 170,000
Supports corporate risk management functions, identifies risks, assists with risk assessments and supports implementation of risk mitigation strategies.
Insurance Brokerage Assistant
Moderate demandKsh 28,000 to Ksh 160,000
Supports insurance brokerage operations, assists clients with policy selection, processes renewals and maintains client relationships.

Graduate outcomes

Graduates work as insurance underwriters, claims officers and risk management assistants in insurance companies, brokerage firms and corporate organisations.

Where these fields lead

8 careers

Certifications

Industry links

Common misconceptions

Insurance is just about selling policies.
Insurance involves risk assessment, underwriting, claims management, reinsurance, regulation and financial management, providing a broad range of professional career paths.
Risk management is only for insurance companies.
Risk management is practised across all sectors including banking, manufacturing, healthcare and government, with organisations needing trained personnel to identify and mitigate risks.
There are no jobs in insurance in Kenya.
Kenya's insurance sector is growing, with opportunities in underwriting, claims, brokerage, compliance, risk management and insurance regulation.
You need to be good at sales to work in insurance.
While sales is one career path, insurance also offers analytical roles in underwriting, claims assessment, actuarial support, compliance and risk management.