Tanzania, 1 March 2021 – MicroEnsure, part of the MIC Global (MIC) – the world’s first end-to-end digital insurance platform, appoints TanManagement Insurance Brokers Limited as their representative in Tanzania for the growth of digital and microinsurance products. At MIC, our mission is to provide a simple safety net, so when the unexpected happens, people can bounce back swiftly. We do this by delivering relevant insurance through our digital channels and partners allowing us to access the more than 4 billion people and 100 million businesses that make up our community across the globe.
MIC has been working diligently to partner with like-minded businesses and organizations in order to grow the distribution of microinsurance globally. The appointment of TanManagement, as MicroEnsure’s representative in Tanzania, is part of this process. Under this arrangement, we will develop new and innovative insurance products and deliver them to millions of individuals and businesses. These insurance products will be distributed through technologically enabled seamless digital processes, leveraging license and outreach provided by TanManagement.
‘‘This partnership is a significant step towards fast growth of insurance penetration in Tanzania which otherwise has one of the lowest insurance penetration rates in the region. Both MicroEnsure and TanManagement are leveraging each other’s strengths and building a strong foundation of providing most relevant insurance products to millions of customers of FinTechs, mobile network operators, digital wallets, microfinance institutions and digital platforms.’’ –Rehan Butt VP Sales Operations of MIC
“This partnership is the most logical next step for our Group as it will create substantial value for Customers throughout the Country. It will benefit Customers through new services and expand the current service capabilities. It is also very much in line with the Governments’ vision of ensuring 50% of Tanzanians are Insured by 2028. We look forward to playing our part with this vision and look forward to the future of Insurance in Tanzania.”Mohammed Jaffer, Group CEO of TanManagement Insurance Brokers Limited
“I have known TanManagement for several years and I am very pleased that we have been able to form this exciting partnership to widen our mission to deliver a simple safety net to the businesses and peoples of Tanzania.”Harry Croydon, COO and President MIC Global
MicroEnsure is a part of MIC Global (MIC). MIC was formed through the merger of Micro Insurance Company and MicroEnsure. MIC is the global insurance platform delivering technology, underwriting, policy management and distribution. MIC provides insurance to platforms, businesses, millions of micro & small businesses, and to the 4 billion people on the planet that are currently unserved.
Whereas most Insurtechs seek to improve existing monoline products and markets, we follow the concept of straight through processing. We do this in order to create highly relevant insurance products that we can offer via our platform globally at very low cost so that we can support people in their local communities. MIC is the world’s first global end-to-end digital micro insurance platform that has combined reinsurance capacity, in-country insurance licenses, world class distribution, and market leading AI functionality. More details – www.micglobal.com
TanManagement Insurance Brokers Limited is a private Limited Liability company registered in Tanzania under the Companies ordinance Cap 212 and issued with a Certificate of Incorporation No. 35174. In the past 10 years, the company has grown from a small office in Moshi to being one of the top 10 Brokerage Firms in Tanzania. For more details, log on to www.tm.co.tz