By Business Insider Reporter, Dodoma
The Parliamentary Standing Committee on Public Investments, PIC, has expressed satisfaction with the progress of Tanzania’s insurance sector, while commending the Tanzania Insurance Regulatory Authority, TIRA, for its significant work in expanding access to and efficiency of services.
The remarks were made today by the Committee Chairman, Masanja Kadogosa, following a presentation by the Commissioner of Insurance, Dr. Baghayo Saqware, during a joint session of PIC and TIRA.
Kadogosa noted that the growth has been driven by increased insurance awareness among citizens, which has led to a rise in the number of policyholders.
“We commend TIRA. We urge you to continue delivering insurance education through innovative channels to reach more Tanzanians,” Kadogosa said.
For his part, PIC Member, Mr. Twaha Mwakioja directed TIRA to strengthen enforcement of insurance laws and regulations to ensure all companies maintain adequate capital. This, he said, will guarantee that citizen claims are paid promptly in the event of disasters.
Presenting his report, Dr. Saqware stated that the insurance market has continued to grow rapidly. He attributed this to government efforts through the Ministry of Finance, which has created an enabling environment through various laws and guidelines. These, he added, have enabled TIRA to carry out effective oversight through its ten regional offices serving all regions across the country.
Dr. Saqware further noted that claims payouts increased by 57 percent in 2025 compared to 2023, boosting public confidence in insurance services. He also highlighted that TIRA’s ICT systems – including TIRAMIS, TIRA-ORS, the TSS Portal, and IRIS – have been upgraded. The systems have streamlined licensing, insurance fee payments, and have improved transparency, efficiency, and service delivery speed.
