In January 2020, Mark Caron, Internal Auditor of P&V (Belgium), spent a week with CIC Insurance Group (CIC) in Kenya to conduct an audit of Year One of the 5-5-5 Strategy project in that country. P&V are long-standing supporters of the CIC project in Kenya.
Who was the assignment for?
CIC in Kenya. ICMIF is partnering with its member CIC to help their mutual insurance solutions for low-income populations reach scale in Kenya. Through the partnership, ICMIF aims to supply 250,000 dairy farmers with affordable mutual insurance products over the next five years.
What was the assignment?
The purpose of this assignment was to audit the first year of the project which ended on 31 December 2019 and use the findings to suggest ways to strengthen risk management and control processes for the remaining three years of the project.
How did it work?
Before travelling to Kenya, CIC provided Mark with background information which would help him immerse himself in the assignment upon arrival. Mark was hosted at CIC’s offices in Nairobi for the duration of the assignment and was accompanied by his colleague Fabian Melis who had taken part in a previous Technical Assistance assignment with CIC. During his time in Kenya, Mark spoke with key stakeholders engaged in reporting activities at CIC. On his return, Mark summarised his findings and recommendations in a report which has been shared with all parties involved in the project for review.
What has been the impact of the assignment so far?
Mark’s audit report of Year 1 has provided CIC, ICMIF and project donors with a valuable starting point from which the first year of the project can be effectively analysed. Mark’s recommendations on ways to strengthen risk management and control processes for the remaining three years of the project will undoubtedly have a positive impact on the long-term sustainability of the project.
Photo (left to right): Fabian Melis, Eve Thiong’o (Business Development Manager, CIC Insurance Group), Mark Caron, and Vicky Njoki Kagema (Relationship Officer Brokers and Agents, CIC Insurance Group)
“I was looking for an opportunity that was challenging and in a setting completely different from anything I have worked in before, but I also wanted to do something that would genuinely help other people. This assignment ticked all the boxes.”
Mark Caron, Internal Auditor, P&V, Belgium
“Mark’s assignment worked out very well because he was open to discovering how business practises work in another culture and country. He went out of his way to make a positive difference and support us in progressing the 5-5-5 project here in Kenya.”
Eve Thiong’o, Business Development Manager, CIC Insurance Group, Kenya