The Tanzania Insurance Regulatory Authority (TIRA) presented its 2023 Insurance Market Performance Report to Zanzibar’s President Dr Hussein Ali Mwinyi, who praised the authority’s role in reforms in the insurance sector and urged the market to match government priorities through innovation and technology. Mwinyi called for wider use of ICT to improve insurance service delivery and reach more citizens, stronger risk research to support products aligned with market needs including for government and private-sector assets, continued review of laws and regulations to reflect current conditions and the growth of the digital economy, and expanded public education on insurance. Insurance Commissioner Dr Baghayo Saqware said TIRA will continue to provide an enabling environment for market growth, work with stakeholders to develop better products, and has expanded services by opening regional offices in Unguja and Pemba alongside a focus on digital transformation to improve access and efficiency.
Tanzania Insurance Regulatory Authority 2025-02-21
Tanzania Insurance Regulatory Authority presents 2023 insurance market performance report as Zanzibar’s President calls for faster digitalisation and regulatory review
The Tanzania Insurance Regulatory Authority (TIRA) presented its 2023 Insurance Market Performance Report, highlighting reforms and digital transformation efforts. Zanzibar’s President Dr Hussein Ali Mwinyi emphasized the need for innovation, ICT integration, and regulatory updates to align with government priorities. TIRA plans to enhance market growth through stakeholder collaboration, regional office expansion, and improved digital access.