The Insurance Supervision Institute of Mozambique launched a new version of the Bank Supervision Application (BSA), a web-based platform adapted for the insurance and pensions sector to modernise supervisory processes and support related legal and operational reforms. The launch was carried out by Albertina Fruquia, Permanent Secretary of the Ministry of Finance, on behalf of the Minister of Finance. Originally designed for banking supervision and officially launched on 28 September 2023, the BSA was customised for insurance and pensions supervision and expanded beyond the prior version’s focus on supervision and statistical reporting. The updated release adds an online licensing portal, an online complaints portal, and online verification of the authenticity of insurance policies, while also broadening functionality to consumer-facing processes, more efficient complaints management, and automated confirmation of insurance guarantees to shorten and simplify the procedure.
Insurance Supervision Institute of Mozambique 2025-09-16
Insurance Supervision Institute of Mozambique launches upgraded Bank Supervision Application with online licensing complaints handling and policy authenticity verification
The Insurance Supervision Institute of Mozambique has launched an updated Bank Supervision Application (BSA) for the insurance and pensions sector to enhance supervisory processes and support reforms. The new version includes an online licensing portal, complaints portal, and verification of insurance policies, improving consumer-facing processes and complaints management. The launch was officiated by Albertina Fruquia, Permanent Secretary of the Ministry of Finance.