Mtendaji Mkuu wa kampuni ya bima ya Jubilee Bw. George Alande (mwenye suti) akikabidhi zawadi kwa Mkurugenzi wa kampuni ya bima ya Venture Bw. Alex Lemnge (kulia) ambao pia ni washindi wa kwanza kati ya mawakala yanayofanya kazi kwa kushirikiana na kampuni ya bima ya Jubilee hafla hiyo fupi iliyoambatana na elimu ya bima kwa jamii ncini lifanyika jana katika hoteli ya New Africa Dar es Salaam.
Meneja Rasiliamali watu kutoka Kampuni ya Bima ya Jubilee bi. Gloria Ngasa akiungumza na waandishi wa habari katika mkutano wa mawakala wa bimba uliofanyika hivi karibuni ukiwa na lengo la kutoa elimu ya kutosha na yenye tija kwa ili jamii iweze kutambua umuhimu wa kujikatia baima za aina mbalimbali mfano za moto, afya, magari, na vyombo vingine vya moto ili endapo itatokea kitu chochote bima zao ziweze kuwasaidia.
Mtendaji Mkuu wa kampuni ya bima ya Jubilee Bw. George Alande akizungumza na waandishi wa habari pamoja na mawakala wa bima wanaofanya kazi kwa kushirikiana na Jubilee wakati wa mkutano wa kutoa elimu kwa jamii kuhusu bima mbalimbali na faida zake iliyofuatiwa na hafla fupi ya kuwakabidhi zawadi baadhi ya wakala hao ikiwa ni sehemu ya shukrani na kutambua utendaji wao mzuri.
Mtendaji Mkuu wa kampuni ya bima ya Jubilee Bw. George Alande akizungumza na waandishi wa habari pamoja na mawakala wa bima wanaofanya kazi kwa kushirikiana na Jubilee wakati wa mkutano wa kutoa elimu kwa jamii kuhusu bima mbalimbali na faida zake iliyofuatiwa na hafla fupi ya kuwakabidhi zawadi baadhi ya wakala hao ikiwa ni sehemu ya shukrani na kutambua utendaji wao mzuri.
Meneja Rasiliamali watu kutoka Kampuni ya Bima ya Jubilee bi. Gloria Ngasa (kulia) akikabidhi zawadi ya laptop kwa mshindi wa tatu Bw. Kassa. A. Kassa ambaye ni mmojawapo wa mawakala wa bima wanaofanya kazi kwa kushirikiana na kampuni ya Jubilee nchini. Zawadi hiyo ni moawapo ya shukrani au kutambua utendaji mzuri wa mawakala hao.
SPEECH AT THE AGENTS AWARDS FOR M/S THE JUBILEE INSURANCE COMPANY OF TANZANIA-BY GEORGE ALANDE
Role of insurance in the development of Tanzania
Allow me to talk about this salient topic this afternnon.
If we examine the development of any nation, it will be seen that the insurance industry has been the silent prime mover behind the scene. We have the recorded history of the role played by Lloyds of London in the industrial revolution which catapulted UK to the most developed nation in the world.
This started with merchants seating at a coffee house, to discuss how to mitigate their losses against the perils of the sea. This was the birth of marine insurance .We can not fly without aviation insurance, Roads can not be constructed without contractors All Risk insurance cover and where applicable advance payments bonds and performance Bonds among other insurance requirements .
So, for the growth of any nation, it is of paramount importance that the country has a robust and vibrant insurance industry. South Africa is seen as the big brother inrespect of economic development in Africa. The wheels of the economy are being turned by insurance .Closer home , kenya’s economy is also being driven by this silent but effective driver . He is not seen, he does not talk, and you can only feel it when claims occur.
Thus us as the insurance fraternity which includes you our insurance agents must feel proud of what you are doing.
What then is the importance of insurance to our country?
1.It mitigates against the financial hardship when the loss and or injury occurs .It Protects your financial outlay .For instance Credit life covers mitigate against the dead and critical injury to the borrower .
2. Creats peace of mind i.e life insurance/investment – my kids will go to school even if am injured and or die.
3. It lessen the economic hardship –provides funds to the owners of businesses to re-open after let say a fire loss or burglary has occurred.
4. Releases the dependence on the community I,e funeral cover and school fees covers
5. Avails a pool of money for the investment in the economy i.e treasury bills/Bonds are largely bought by insurers because of the time lag from premium payment and claims settlements.
6. Mobilization of funds for national developments i.e invests in huge buildings to used for offices and business facilities .
7. Provision of funds for loss/Risk controls which enables the economy to grow. Insurers have invested in the risk management surveys which have improved the standard and working conditions in various industries. we provide expert advice.
8. we have provided employment to various categories of employees in the economy. we as the Jubilee insurance company of tanzania directly employees over 100 staff and many more indirectly as our service providers among other things .
9. supports a healthy nation through medical insurance etc
10. Insurance covers for marine supports international trade.
11. Ever present catalyst to improving farmers life through weather index and crop insurance and microinsurance takes care of the lower pyramid in the society.
But then What is the current growth of the industry for us to deduce the importance of insurance?
The industry is growing at about 20% and this is bound to increase with penetration to the rural and major towns in Tanzania.
Public aware and role of our Agents.
The insurance awareness is too low.People are only buying bima ndogo-Third party insurance and bima kubwa – comprehensive for motor insurance is not considered at all.Third party does not protect your own vehicle but the liabilities against third parties whom you may injure/kill and their properties.It does not protect your own car and financial outlay .
Individual people believe that insurance is only for corporate sector.
Life, education and other covers like marine covers are only known to but a few individual citizens of the land.
The average Tanzanian is slowly becoming aware to the possibilities of insurance, thanks to the activities of the insurance regulator, TIRA, as well as educational institutions like IFM, Dar es Salaam, The chartered insurance institute ( CII) London who administered insurance exams world wide .A few of our staff are taking this internationally recognized exams.Further, the increasing levels of education as well as the growing number of people joining the ranks of the middle class, has ensured that insurance is becoming more popular in Tanzania.
However, the insurance penetration in Tanzania is still below 1%, and there is a lot more work to be done by the industry.
What do we do then as agents and insurance professionals?
1. We need to include insurance teaching to the education curriculum
2. Educate the media personel and members of the public through road shows, opinion leaders etc
3. Move to all corners of the public
4. Design products for the lower pyramid
5. Train the competent personal to sale insurance and empower our staff and agents
Why the low penetration level of insurance in TANZANIA
Compared to the rest?
1.Kenya 3.5%, south Africa -16%;Uganda 1% , TANZANIA -0.86%,globally around 7.5% and sub sahara Africa- 4.5%.
In our country, I dare to say :
1. The industry only reside in a few towns –Dar and a few others .we have7 branches as a company and we plan to move across a field in the country.
2. Lack of public education.
3. Creat relevant products suitable to the populace’s needs.
4. We as insurers needs to blow our trumpets whenever we pay large claims
5. Lack of qualified man power in the industry .
6. Failure of some companies to pay claim due to service and inadequate funds .
Role of government to increase the penetration: give some incentives to imbue the growth?
1. we need to give tax benefits in areas such as life insurance/pension to encourage people to save by not taxing the premium contribution element on PAYE.
2. we need tax incentive for insurance companies who have opened branches in the rural areas.
3.Review some taxes such as premium levy -1.5%, city levy 0.3% withholding taxes at 5% to reduce cost of doing business .After all these , we still have corporate taxes to pay! .
4. Further, when we talk of insurance segments like Micro insurance, we are talking about the poorest of the poor of any nation, whether Tanzania or USA. By taxing the insurance industry, the cost to the nation becomes exorbitantly high, thus slowing down the GDP growth and insurance industry.
what are the challenges facing the insurance industry and possible solutions in TANZANIA ?
1. Fraud and corruption
2. Dishonesty of employees-we have seen marked increase in fidelity Guarantee covers given against the infidelity of the employees .we are really stealing from our employers! why? is it a moral decadence ? perhaps! May be the desire to be seen rich! It is a sin to die poor for some of us.
3. Lack of government support on some areas like weather index insurance –Government needs to support metrological departments for them build weather monitoring stations/Rain gauges to help us issue insurance covers to the farmers . Without food, we shall not be!
4. High cost of the spare parts due to inflation and currency devaluations means that the cost of repairs of cars goes high.
5. Negative public notion of insurance .Legacy of the failed and or ran down companies ?
6. Lack of quality personnel committed to organizational growth.
7. Lack of adequate qualified loss adjusters and surveyors and other service providers
8. Law enforcement on our roads-un road worthy vehicles finds there ways in our roads and a times are the cause of the numerous uncalled for accidents, property damages and deaths.
Closing remarks
We as the insurance industry market leaders, do know that
With out insurance, the economy will continue to bleed due to numerous fires, burglaries, car accidents but to mentioned a few .We need to curb fraud, corruption and unethical competition to ensure that our economy grows!
Without insurance, may companies will not operate.
With our brand and being the largest insurance company in Tanzania and within the region, we shall continue to support our insurance agents. Hence the importance of the day today. we shall award the best of the best .
Thank you for your support. Without, you we will not be here this afternoon.
BY GEORGE ALANDE –CEO
THE JUBILEE INSURANCE COMPANY OF TANZANIA