The Tanzania Insurance Regulatory Authority (TIRA) launched its 2024 Insurance Market Performance Report, with Insurance Commissioner Dr Baghayo Saqware highlighting upgrades to digital systems intended to improve the speed, efficiency and transparency of insurance distribution and underwriting. TIRA pointed to six sector achievements in 2024, including digitalisation improvements, implementation of Inbound Mandatory Travelling Insurance in Zanzibar, oversight of the implementation of laws and regulations for Universal Health Insurance, strengthened supervision of compulsory insurance, issuance of various sector guidelines, and the establishment of two consortia for Agriculture and for Oil and Gas. Looking ahead, TIRA set targets to expand inclusive insurance to 3% by 2030 and increase average insurance usage to 50% by 2050, while continuing work on amendments to the Insurance Act, development of a National Insurance Policy, and strengthened public insurance education.

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