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TIRA

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The insurance sector in Tanzania is regulated by the Tanzania Insurance Regulatory Authority (TIRA). The mandate of the Authority is embedded in the Insurance Act, No. 10 of 2009. According to the said legislation, TIRA’s functions are:
· Regulate and supervise the insurance sub-sector and registrants;
· Inspect all insurance players;
· Protect the interests of policyholders/consumers;
· Handle insurance complaints from the public;
· Advise the Government on insurance and related matters;
· Facilitate the development of a fair, safe and stable insurance industry;
· Create insurance awareness among the Public.

TIRA is also mandated to register various categories of registrants which include but are not limited to the following:
· Sales Force Executives (SFEs)
· Takaful Operators (Islamic insurance);
· Insurance agents;
· Insurance assessors;
· Insurance loss surveyors;
· Insurance loss adjusters;
· Insurance private investigators;
· Insurance brokers;
· Insurance companies;
· Reinsurance companies;
· Reinsurance brokers;
· Bancassurance agents;
· Actuarial firms; and
· Insurance digital platforms.