Transcript Document

A PRESENTATION MADE AT A PANEL DISCUSSION ON
“THE ROLE OF INSURANCE IN POVERTY
REDUCTION IN TANZANIA”
PANELIST:
ISRAEL KAMUZORA
COMMISSIONER OF INSURANCE
Venue: J.K. Nyerere Hall
Date: 26th November 2013
Agenda
1) Insurance contribution to Economic Growth.
2) Current Best Practices in Insurance and their
benefits to the poor.
3) Involvement of middle-income people in
Insurance.
4) Initiatives for protection of Farmers (crop
insurance)?
1) Insurance Contribution to Economic
Growth:
a) Measured as % to the Gross Domestic
Product.(GDP).
Source: Insurers’ Audited Annual Returns; BoT Quarterly Economic Bulletins, 2003-2012; TIRA
computations.
b) Measured as a Contribution to financial
Intermediation Sector GDP.
Source: Insurers’ Audited Annual Returns; BoT Quarterly Economic Bulletins, 2003-2012; TIRA
computations.
2)
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”
3) 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
4) Initiatives for Protection of Farmers
• With assistance of World Bank, we are currently
developing a methodology for delivering AgricInsurance 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.
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.
Thank You