Tanzania launches new insurance product
DAR ES SALAAM: TANZANIA has launched Akiba Flex Plan, a new insurance product and urged insurance companies to uphold professionalism, and ensure timely compensation to their clients in order to build trust in the sector, which plays a vital role in national development.
The directive was issued today, May 20, 2025, in Dar es Salaam by Khadija Said, the Deputy Commissioner of the Tanzania Insurance Regulatory Authority (TIRA), during the launch of a new life insurance product called Akiba Flex Plan, introduced by Jubilee Life Insurance.
In her speech, Khadija emphasized the importance of adhering to TIRA’s regulations and guidelines, stressing that insurers must not lose focus on fulfilling their responsibilities. She highlighted the need for prompt compensation to citizens affected by disasters such as accidents, to strengthen public confidence and encourage broader use of insurance services.
“The government has developed strong strategies for public insurance education to promote participation and drive the growth of the insurance sector in the country,” she added.
On her part, Helena Mzena, Chief Executive Officer of Jubilee Life Insurance, said the launch of Akiba Flex Plan aims to make life insurance more accessible to Tanzanians, while providing protection, dignity, and peace of mind, along with essential benefits when needed.
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Kalista Maganga, from Jubilee Insurance’s Sales Department, explained that the core concept of insurance is to provide protection against unavoidable risks. She noted that the new insurance product will greatly assist communities in managing various challenges.
The launch of the Akiba Flex Plan is part of Jubilee’s ongoing efforts to strengthen life insurance services and increase public awareness of the importance of being insured.
