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A PRESENTATION MADE AT A PANEL DISCUSSION ON

PANELIST: ISRAEL KAMUZORA COMMISSIONER OF INSURANCE. A PRESENTATION MADE AT A PANEL DISCUSSION ON “THE ROLE OF INSURANCE IN POVERTY REDUCTION IN TANZANIA”. Venue: J.K. Nyerere Hall Date: 26 th November 2013. Agenda. Insurance contribution to Economic Growth.

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A PRESENTATION MADE AT A PANEL DISCUSSION ON

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  1. PANELIST: ISRAEL KAMUZORA COMMISSIONER OF INSURANCE A PRESENTATION MADE AT A PANEL DISCUSSION ON “THE ROLE OF INSURANCE IN POVERTY REDUCTION IN TANZANIA” Venue: J.K. Nyerere Hall Date: 26th November 2013

  2. Agenda • Insurance contribution to Economic Growth. • Current Best Practices in Insurance and their benefits to the poor. • Involvement of middle-income people in Insurance. • Initiatives for protection of Farmers (crop insurance)?

  3. Insurance Contribution to Economic Growth: • Measured as % to the Gross Domestic Product.(GDP). Source: Insurers’ Audited Annual Returns; BoT Quarterly Economic Bulletins, 2003-2012; TIRA computations.

  4. Measured as a Contribution to financial Intermediation Sector GDP. Source: Insurers’ Audited Annual Returns; BoT Quarterly Economic Bulletins, 2003-2012; TIRA computations.

  5. Current Insurance Best Practices and their Benefits to the Poor:- -see a Map of Micro-insurance coverage in Africa Source: McCord, Michael J. Presentation “Landscape of microinsurance in Africa 2012”

  6. Involvement of Middle-Income People in Insurance:(Measured by the National Savings Ratio). i.e. Savings as a Percentage of GDP Source: Tanzania Bureau of Statistics

  7. Initiatives for Protection of Farmers • With assistance of World Bank, we are currently developing a methodology for delivering Agric-Insurance in Tanzania. • Initial findings have shown that it is possible to develop a large scale Agric-Insurance program in Tanzania based on PPP Model. • The World Bank has indicated to offer Technical Assistance under its Agriculture Insurance Development Program – AIDP and Global Index Insurance Facility – GIIF.

  8. Cont… • This will support the design and implementation of a large scale PPP for Agric-Insurance in Tanzania. • Envisaged Time Frame for the program to be rolled-out is 2 years from now.

  9. Thank You

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