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 kampuni hiyo, 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 hafla hiyo jana.
Meneja Rasiliamali watu wka Kampuni ya Bima ya Jubilee Bi. Gloria Ngasa (kushoto) akikabidhi zawadi ya laptop kwa mshindi wa tatu Bw. Kassa Kassa ambaye ni mmojawapo wa mawakala wa bima wanaofanya kazi kwa kushirikiana na kampuni ya Jubilee nchini. Zawadi hiyo ni mojawapo ya shukrani ya kutambua utendaji mzuri wa mawakala hao.
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 (kushoto), 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.
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 (kushoto), 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.
Mtendaji Mkuu wa kampuni ya bima ya Jubilee Bw. George Alande, akizungumza na waandishi wa habari, wakati wa hafla hiyo jana jijini Dar es Salaam.
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 Microinsurance, 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 exhorbitantly 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
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