DAR ES SALAAM, May 26 -- ACROSS Africa, the insurance industry is growing steadily, but so is the gap between what insurers offer and what many customers actually experience. Awareness about insurance is improving, new products are entering the market, and digital services continue to expand. Yet millions of Africans still remain outside formal insurance protection. Tanzania reflects this broader reality. Despite ongoing market growth and regulatory improvements, insurance penetration remains relatively low compared to the countrys population size and growing economic activities.

According to the Tanzania Insurance Regulatory Authority (TIRA), insurance penetration in Tanzania increased from approximately 2.01 percent in 2023 to 2.08 per...