LOCAL insurers have been urged to provide regular and rigorous training to their staff ready for cut-throat competition in the East African Community (EAC) region in the wake of monetary union.
Tanzania National Re-Insurance Corporation Limited (Tan-Re) Board Vice-Chairman, Mr Wilson Ndesanjo, said it would be difficult for local firms to cope without adoption of modern insurance practices, technology and developing a pool of strong human resources.
“These companies should continue to build capacity for their staff if they are to compete in the region,” he said at the close of a three-day workshop for insurance workers in Dar es Salaam.
The training focused on machines and building insurance. He said that all East African countries including Kenya, Uganda, Rwanda, Burundi, South Sudan and Tanzania would shortly compete in a single free insurance market in the work of monetary union.
The training was offered by Tan-Re and Ivory Coast based company, NCA-RE and attended by 50 workers from 25 local insurance companies.
This is the sixth time, TANRE is offering such training. One of the beneficiaries of the training from MGen Insurance, Ms Tanika Anyosisye said the training has tremendously helped her build capacity in such insurance covers.
“We are going to sensitise the public on these insurance, there is a need to have insurance on machines and buildings,” she said, adding that still many Tanzanians lack knowledge on such areas of insurance.
The training was organised and sponsored by NCA-RE and TAN-RE while trainers came from the US and Ivory Coast. TAN-RE is a regional reinsurance company proving a broad range of reinsurance products and services to clients in Africa.
TAN-RE opened its doors for the writing of all classes of reinsurance business in 2004.
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