The Role of Tanzania Insurance Regulatory Authority (TIRA) on Insurance Industry Development in Tanzania

Kamwambia, Francis Thirinja (2013) The Role of Tanzania Insurance Regulatory Authority (TIRA) on Insurance Industry Development in Tanzania. Masters thesis, The Open University of Tanzania.

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Abstract

The study focused on role Tanzania insurance regulatory authority and on ten insurance companies in Dares salaam. TIRA had the population of 50 employees and seven were selected as representative sample. From the 27 insurance companies ten of them were selected with work force of five hundred employees, and one hundred were selected as a s representative sample. The study sought to find out the role of TIRA on insurance industry development and asses whether it carried out its mandate per the requirement of the law. Descriptive research survey was used. The Research design employed was purposive random sampling to select members of TIRA and the insurance companies. The sample involved 107 members of both TIRA and the insurance companies. A large data for statistical analysis was collected using structured questionnaire. Descriptive Statistics, Frequency Tables, and percentages were used to determine the relationship between the TIRA effective role and its impacts on insurance development. The findings revealed that the role of TIRA on insurance developments mainly involved regulatory role, supervisory role, monitoring role and other roles played by TIRA to ensure a stable industry thrives. The study revealed also that some of the insurance companies did not meet the thresh hold minimum imposed by TIRA on some occasions. The study revealed also that TIRA needed to employ more qualified staff to enable it effective carry out its role and enforce the rules more strictly and increase it financial resource to enable it deliver. The study further revealed there was great potential for the insurance growth, and development and more of TIRA effective was required to promote it.

Item Type: Thesis (Masters)
Subjects: 600 Technology > 658 Gerneral management
Divisions: Faculty of Business Management > Department of Leadership and Governance
Depositing User: Mr Habibu V. Kazimzuri
Date Deposited: 14 Jan 2016 11:55
Last Modified: 14 Jan 2016 11:55
URI: http://repository.out.ac.tz/id/eprint/921

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