The Tanzania Insurance Regulatory Authority (TIRA) has urged insurance service providers, particularly banks, to reduce the commissions they charge insurance companies so that distribution costs fall and insurance becomes more affordable. The message was delivered by Insurance Commissioner Dr Baghayo Saqware in the context of TIRA’s push to support implementation of Tanzania’s Universal Health Insurance law. The call was made during the second phase of TIRA’s outreach tour covering the Lake Zone, Western Zone and Lake Tanganyika Zone, starting in Shinyanga. The programme is focused on briefing regional leaders and public officials on the importance of insurance, introducing TIRA’s zonal offices and their functions, and preparing officials to act as insurance ambassadors for citizens; sessions in Shinyanga included meetings with the Regional Administrative Secretary and an insurance education forum for regional staff.
Tanzania Insurance Regulatory Authority 2025-02-24
Tanzania Insurance Regulatory Authority urges banks to cut insurance distribution commissions to lower costs
The Tanzania Insurance Regulatory Authority (TIRA) urges insurance service providers, especially banks, to lower commissions to reduce distribution costs and enhance affordability. This aligns with TIRA's efforts to support Tanzania’s Universal Health Insurance law. The announcement was part of TIRA's outreach tour to educate regional leaders and public officials on insurance importance and introduce TIRA’s zonal offices.