Insurance and risk management marketing

20/09/2025

LIFE ASSURANCE EXPERIENCE .

Looking on the global insurance trends, as per reliable sources the East African insurance market is still demanding us especially in Tanzania, where market pe*******on in Kenya is about 1% in life assurance and general insurance is below 2% when combined is about3% only.

For Tanzania and Uganda combined their market pe*******on is below 2% where by life assurance is below 1%. This contributed by different factors which are within our control and others being uncontrollable (out of our control)

The products offered by many insurance companies in Tanzania i.e. GLA & GCL are not bad, they do well for their size but when you take into consideration PROFIT Vs SCALE you'll find the INDIVIDUALS LIFE PRODUCTS tend to be more profitable than those two that dominate the Tanzanian market in Life Assurance

GLA - scale. Very potential b'se one contract covers many lives, distribution through employers keeps acquisition cost per life low. Therefore, the product makes a profit, but on the other hand, large claim events or sometimes poor underwriting can push loss ratios up.

GCL products are mostly profitable and their scale is quite good since they do not offer a high claim ratio and making it be very sustainable.

Other sources say that INDIVIDUAL LIFE PRODUCTS are the slowest to scale b'se distribution and acquisition costs are high since the products often require medical checks or advice. But profitability per policy, as margins can be high especially for long duration or unit linked savings products.

Overall, the profitability depends on heavy upfront acquisition costs, persistence (surrender and lapse) and underwriting quality.

what is your opinion’s on this, drop the comment and Let's see if we can do something about this, to enable the life insurance penetrating in Tanzania and industry growth.

25/06/2025

Few take away on the currently insurance industry by # # # please share your thoughts on what to be done or what will be the impact on insurance growth of Tanzania

13/06/2025

09/09/2024

Be a leader and not a Boss - Lead by example📚📚

16/06/2024

Now Tanzania insurance markets has expands their distribution channels and they have a huge impact of growth. Its a matter of time to keep grinding and develops products which suite the market and reach a lower income eaeners.

The merely growth patterns falls under bancassurance agency as most of the banks in Tanzania tends to selling life insurance products by means of embedded the life insurance in their products;

This helps on the huge development of insurance industry and qwickly transform insurance markets into its easly penentration and being acceptable by many insurance buyers.

Embedded products are linked with investments option and secure the financial institution, also increase the clientele base of the financial institution.

AI drives marketing and selling points of insurance, esp life insurance. The main goals is to ensure all lower and middle income earners are well-being and afford to buying insurance covers with an easier possible ways,also provision of knowledge to people.

We expect the huge growth of Tanzania GDP for the upcoming 5 years and this will be attributed due to marketing competations.

18/04/2024

Defamation /slander:

It is a crime to make a false information or statement that can damage a person reputation (defamation/slander). In the eyes of law anyone have a right to take an action of suing someone who made a false information which directly or indirectly ruine/ damage his/her reputation.

Insurance, coverage for defamation typically falls under the realm of liability insurance.

In the event that a business or individual is accused of defamation, having appropriate liability coverage can help protect them financially. Defamation claims can be costly, involving legal fees, potential damages, or settlement payments.

Liability insurance can provide the necessary financial support by covering legal defense costs and potential indemnification for covered claims of defamation.

It is IMPORTANT for businesses to understand the potential risks associated with defamation and secure adequate liability cover to mitigate/ reduces those risks. With a liability insurance cover businesses can protect their reputation, finances, and overall well-being in the face of allegations of defamation/slander.

All this will be resolved by having a good law firm…

Stay with us for more knowledge……..
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23/08/2023

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15/04/2023

Africa my mama land - lets come and invest #

31/07/2022

Learning everyday on insurance especially in life assurance macro products which can be imposed in our country and will have a big impact on small income earner with lower premium but huge benefits for their selves and dependent. Eager to learn new things bring more power of knowledge ✍️✍️✍️🫀🫁🚬🩻🩻🩺⚰️