Mozambique's Ministry of Finance announced the launch of a new version of the Bank Supervision Application (BSA) platform tailored to the insurance and pensions sector. The Institute of Insurance Supervision of Mozambique (ISSM) has adopted the web-based system with support from the Bank of Mozambique, positioning the move within the government’s strategic agenda to accelerate digitalisation of public services and modernise information systems. Although BSA was initially built for banking supervision, its architecture has been customised for insurance and pension fund oversight, with a focus on improving data management and making data collection and reporting more efficient through analytical tools and the introduction of artificial intelligence. Key enhancements include an online licensing portal intended to allow new investors to submit licensing applications digitally without visiting ISSM, alongside updated communication features to support interaction between users. ISSM linked the rollout to a phased implementation of technology systems under its strategic plan to strengthen supervision and inspection of insurance activity and pension funds.

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