Performance Audit Report on the Supervision and Monitoring of Insurance Service Providers

This performance audit aimed to assess whether the Tanzania Insurance Regulatory Authority (TIRA) was effectively supervising and monitoring Insurance Service Providers ensure that the operating insurance companies had the required legal, technical, and financial soundness.

The audit found that, there is ineffective insurance claim management in the Country; inadequate inspections; inadequate monitoring of financial soundness of Insurance and Reinsurance Companies; inadequate handling of insurance claims; and inadequate evaluation of the level of awareness and satisfaction of insurance customers on insurance services.