Initial Market Assessment : Country Scoping Note--Tanzania
Catastrophe exposure in Tanzania is limited and the key perils are drought and flood. These events have minimal impact on GDP but severe impacts on individuals in the agriculture sector, increasing their vulnerability. Thus, while there are merits...
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| Format: | Report |
| Language: | English en_US |
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Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24773652/initial-market-assessment-country-scoping-note-tanzania http://hdl.handle.net/10986/22429 |
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okr-10986-22429 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
RISKS EQUIPMENT ECONOMIC GROWTH EARLY WARNING AGRICULTURAL CREDIT RISK REDUCTION FINANCIAL MANAGEMENT FARMER MANMADE DISASTERS INCOME INTEREST LIFE INSURANCE PUBLIC INVESTMENTS CREDIT AVAILABILITY GUARANTEES EXCHANGE FINANCIAL RESOURCES PORTFOLIO INSURANCE POLICIES INSURANCE SOLUTIONS MODELS DISASTER GOVERNMENT ASSETS PRICE CASH TRANSFER MARKET INFRASTRUCTURE INSURANCE RISK VOLCANIC DISASTERS REGULATORY AUTHORITY INTERNATIONAL BANK DISASTER EVENTS RELIEF SUPPLY RURAL BANKS INSTRUMENTS INSURANCE MARKET BUDGET CATASTROPHE INSURANCE CROP INSURANCE INTERNATIONAL FINANCE MORTGAGES LEVEL OF RISK RELIEF NATURAL DISASTER DISBURSEMENT FEASIBILITY INSURANCE MARKETS INSURANCE PRODUCT ACCESS TO INSURANCE FLOODS PRICE VOLATILITY OPTIONS EMERGENCIES NATURAL DISASTERS FINANCIAL INSTITUTIONS VOLCANIC ERUPTIONS MARKETS LOCAL GOVERNMENT INTERNATIONAL DEVELOPMENT DISASTERS DISASTER COMMUNICATION INSURERS LENDERS FIRE FARMERS RESERVES FINANCE BROKER PUBLIC INVESTMENT BROKERS BANKS MICRO-CREDIT REINSURANCE MORTALITY RISK DROUGHTS EMERGENCY EARTHQUAKE RURAL COMMUNITIES FOOD SECURITY ECONOMIC COSTS MICRO- INSURANCE POLICIES DISASTER RISK CLIMATE CHANGE DROUGHT VALUE MOBILE PHONE POLICY MAKERS BANK LOCAL MARKET DISASTER RISK FINANCING BUDGETS AGRICULTURAL INSURANCE CLIMATE DEMAND MICROINSURANCE SAFETY NET BAILOUTS CONSUMER PRICE DAMAGE INTERNATIONAL REINSURANCE PROPERTY BIDS INSURANCE INDUSTRY DISASTER PREPAREDNESS MICRO-INSURANCE DISASTER MANAGEMENT BALANCE SHEET MARKET FLOOD CREDIT GUARANTEE POLICY SOLVENCY INSURANCE SOCIAL CAPITAL MICROFINANCE SUBSISTENCE FARMERS MARKET SHARE SECURITY INVESTMENT CREDIT GUARANTEES RISK SHARE BALANCE SHEETS POVERTY TREATY ALLOCATION FINANCIAL CAPACITY SUPPLY INSURANCE SECTOR DISASTER RISK REDUCTION EXTERNAL SHOCKS INVESTMENTS RISK MANAGEMENT CONSUMER PRICE INDEX LENDING EMERGENCY PREPAREDNESS EPIDEMIOLOGY INSURANCE COMPANIES PRICE INDEX FINANCIAL SECTOR SAFETY INSURANCE PENETRATION ERUPTIONS INTERNATIONAL MARKETS PRICES GUARANTEE RISK ASSESSMENT REINSURER RISK ANALYSIS |
| spellingShingle |
RISKS EQUIPMENT ECONOMIC GROWTH EARLY WARNING AGRICULTURAL CREDIT RISK REDUCTION FINANCIAL MANAGEMENT FARMER MANMADE DISASTERS INCOME INTEREST LIFE INSURANCE PUBLIC INVESTMENTS CREDIT AVAILABILITY GUARANTEES EXCHANGE FINANCIAL RESOURCES PORTFOLIO INSURANCE POLICIES INSURANCE SOLUTIONS MODELS DISASTER GOVERNMENT ASSETS PRICE CASH TRANSFER MARKET INFRASTRUCTURE INSURANCE RISK VOLCANIC DISASTERS REGULATORY AUTHORITY INTERNATIONAL BANK DISASTER EVENTS RELIEF SUPPLY RURAL BANKS INSTRUMENTS INSURANCE MARKET BUDGET CATASTROPHE INSURANCE CROP INSURANCE INTERNATIONAL FINANCE MORTGAGES LEVEL OF RISK RELIEF NATURAL DISASTER DISBURSEMENT FEASIBILITY INSURANCE MARKETS INSURANCE PRODUCT ACCESS TO INSURANCE FLOODS PRICE VOLATILITY OPTIONS EMERGENCIES NATURAL DISASTERS FINANCIAL INSTITUTIONS VOLCANIC ERUPTIONS MARKETS LOCAL GOVERNMENT INTERNATIONAL DEVELOPMENT DISASTERS DISASTER COMMUNICATION INSURERS LENDERS FIRE FARMERS RESERVES FINANCE BROKER PUBLIC INVESTMENT BROKERS BANKS MICRO-CREDIT REINSURANCE MORTALITY RISK DROUGHTS EMERGENCY EARTHQUAKE RURAL COMMUNITIES FOOD SECURITY ECONOMIC COSTS MICRO- INSURANCE POLICIES DISASTER RISK CLIMATE CHANGE DROUGHT VALUE MOBILE PHONE POLICY MAKERS BANK LOCAL MARKET DISASTER RISK FINANCING BUDGETS AGRICULTURAL INSURANCE CLIMATE DEMAND MICROINSURANCE SAFETY NET BAILOUTS CONSUMER PRICE DAMAGE INTERNATIONAL REINSURANCE PROPERTY BIDS INSURANCE INDUSTRY DISASTER PREPAREDNESS MICRO-INSURANCE DISASTER MANAGEMENT BALANCE SHEET MARKET FLOOD CREDIT GUARANTEE POLICY SOLVENCY INSURANCE SOCIAL CAPITAL MICROFINANCE SUBSISTENCE FARMERS MARKET SHARE SECURITY INVESTMENT CREDIT GUARANTEES RISK SHARE BALANCE SHEETS POVERTY TREATY ALLOCATION FINANCIAL CAPACITY SUPPLY INSURANCE SECTOR DISASTER RISK REDUCTION EXTERNAL SHOCKS INVESTMENTS RISK MANAGEMENT CONSUMER PRICE INDEX LENDING EMERGENCY PREPAREDNESS EPIDEMIOLOGY INSURANCE COMPANIES PRICE INDEX FINANCIAL SECTOR SAFETY INSURANCE PENETRATION ERUPTIONS INTERNATIONAL MARKETS PRICES GUARANTEE RISK ASSESSMENT REINSURER RISK ANALYSIS World Bank Initial Market Assessment : Country Scoping Note--Tanzania |
| geographic_facet |
Africa Tanzania |
| relation |
Political Champions Group country note; |
| description |
Catastrophe exposure in Tanzania is
limited and the key perils are drought and flood. These
events have minimal impact on GDP but severe impacts on
individuals in the agriculture sector, increasing their
vulnerability. Thus, while there are merits to developing
the agriculture insurance market in Tanzania, less of a case
can be made to develop the catastrophe insurance market.
Engagement in Tanzania to develop private sector catastrophe
risk and agriculture insurance should be seen as a medium to
long term engagement. Banking penetration is low, as is
insurance and micro-insurance penetration, even when
compared to regional countries. In addition, the insurance
industry has struggled in recent years with profitability,
indicating that insurance technical capacity within the
country may be limited. There are low levels of local
reinsurance capacity, with the majority of risks being
reinsured off-shore. Thus development of catastrophe and
agriculture insurance in Tanzania shall involve a multi-year
engagement. Initially it is of paramount importance that
insurance companies can manage insurance risk correctly
(before beginning to think about adding covariate risks to
their balance sheets). Expansion of disaster risk insurance
into Tanzania could be seen as a second phase of an
engagement looking to develop these markets in Eastern
Africa, with Kenya targeted in the first phase. Given the
comparative advantages of engaging in Kenya (see Kenya
note), a potential course of action would be to use Kenya as
a demonstration case in east Africa to spark interest in the
Government for development of catastrophe and agriculture
insurance markets. Using Kenya as a model example, lessons
learnt can be applied in Tanzania to look to stimulate the
catastrophe and agriculture insurance market. This strategy
will also leverage private sector insurance companies that
have headquarters in Kenya and field offices in Tanzania
(Jubilee for example). |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Initial Market Assessment : Country Scoping Note--Tanzania |
| title_short |
Initial Market Assessment : Country Scoping Note--Tanzania |
| title_full |
Initial Market Assessment : Country Scoping Note--Tanzania |
| title_fullStr |
Initial Market Assessment : Country Scoping Note--Tanzania |
| title_full_unstemmed |
Initial Market Assessment : Country Scoping Note--Tanzania |
| title_sort |
initial market assessment : country scoping note--tanzania |
| publisher |
Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/07/24773652/initial-market-assessment-country-scoping-note-tanzania http://hdl.handle.net/10986/22429 |
| _version_ |
1764450929384357888 |
| spelling |
okr-10986-224292021-04-23T14:04:08Z Initial Market Assessment : Country Scoping Note--Tanzania World Bank RISKS EQUIPMENT ECONOMIC GROWTH EARLY WARNING AGRICULTURAL CREDIT RISK REDUCTION FINANCIAL MANAGEMENT FARMER MANMADE DISASTERS INCOME INTEREST LIFE INSURANCE PUBLIC INVESTMENTS CREDIT AVAILABILITY GUARANTEES EXCHANGE FINANCIAL RESOURCES PORTFOLIO INSURANCE POLICIES INSURANCE SOLUTIONS MODELS DISASTER GOVERNMENT ASSETS PRICE CASH TRANSFER MARKET INFRASTRUCTURE INSURANCE RISK VOLCANIC DISASTERS REGULATORY AUTHORITY INTERNATIONAL BANK DISASTER EVENTS RELIEF SUPPLY RURAL BANKS INSTRUMENTS INSURANCE MARKET BUDGET CATASTROPHE INSURANCE CROP INSURANCE INTERNATIONAL FINANCE MORTGAGES LEVEL OF RISK RELIEF NATURAL DISASTER DISBURSEMENT FEASIBILITY INSURANCE MARKETS INSURANCE PRODUCT ACCESS TO INSURANCE FLOODS PRICE VOLATILITY OPTIONS EMERGENCIES NATURAL DISASTERS FINANCIAL INSTITUTIONS VOLCANIC ERUPTIONS MARKETS LOCAL GOVERNMENT INTERNATIONAL DEVELOPMENT DISASTERS DISASTER COMMUNICATION INSURERS LENDERS FIRE FARMERS RESERVES FINANCE BROKER PUBLIC INVESTMENT BROKERS BANKS MICRO-CREDIT REINSURANCE MORTALITY RISK DROUGHTS EMERGENCY EARTHQUAKE RURAL COMMUNITIES FOOD SECURITY ECONOMIC COSTS MICRO- INSURANCE POLICIES DISASTER RISK CLIMATE CHANGE DROUGHT VALUE MOBILE PHONE POLICY MAKERS BANK LOCAL MARKET DISASTER RISK FINANCING BUDGETS AGRICULTURAL INSURANCE CLIMATE DEMAND MICROINSURANCE SAFETY NET BAILOUTS CONSUMER PRICE DAMAGE INTERNATIONAL REINSURANCE PROPERTY BIDS INSURANCE INDUSTRY DISASTER PREPAREDNESS MICRO-INSURANCE DISASTER MANAGEMENT BALANCE SHEET MARKET FLOOD CREDIT GUARANTEE POLICY SOLVENCY INSURANCE SOCIAL CAPITAL MICROFINANCE SUBSISTENCE FARMERS MARKET SHARE SECURITY INVESTMENT CREDIT GUARANTEES RISK SHARE BALANCE SHEETS POVERTY TREATY ALLOCATION FINANCIAL CAPACITY SUPPLY INSURANCE SECTOR DISASTER RISK REDUCTION EXTERNAL SHOCKS INVESTMENTS RISK MANAGEMENT CONSUMER PRICE INDEX LENDING EMERGENCY PREPAREDNESS EPIDEMIOLOGY INSURANCE COMPANIES PRICE INDEX FINANCIAL SECTOR SAFETY INSURANCE PENETRATION ERUPTIONS INTERNATIONAL MARKETS PRICES GUARANTEE RISK ASSESSMENT REINSURER RISK ANALYSIS Catastrophe exposure in Tanzania is limited and the key perils are drought and flood. These events have minimal impact on GDP but severe impacts on individuals in the agriculture sector, increasing their vulnerability. Thus, while there are merits to developing the agriculture insurance market in Tanzania, less of a case can be made to develop the catastrophe insurance market. Engagement in Tanzania to develop private sector catastrophe risk and agriculture insurance should be seen as a medium to long term engagement. Banking penetration is low, as is insurance and micro-insurance penetration, even when compared to regional countries. In addition, the insurance industry has struggled in recent years with profitability, indicating that insurance technical capacity within the country may be limited. There are low levels of local reinsurance capacity, with the majority of risks being reinsured off-shore. Thus development of catastrophe and agriculture insurance in Tanzania shall involve a multi-year engagement. Initially it is of paramount importance that insurance companies can manage insurance risk correctly (before beginning to think about adding covariate risks to their balance sheets). Expansion of disaster risk insurance into Tanzania could be seen as a second phase of an engagement looking to develop these markets in Eastern Africa, with Kenya targeted in the first phase. Given the comparative advantages of engaging in Kenya (see Kenya note), a potential course of action would be to use Kenya as a demonstration case in east Africa to spark interest in the Government for development of catastrophe and agriculture insurance markets. Using Kenya as a model example, lessons learnt can be applied in Tanzania to look to stimulate the catastrophe and agriculture insurance market. This strategy will also leverage private sector insurance companies that have headquarters in Kenya and field offices in Tanzania (Jubilee for example). 2015-08-17T15:59:25Z 2015-08-17T15:59:25Z 2013-09-22 Report http://documents.worldbank.org/curated/en/2015/07/24773652/initial-market-assessment-country-scoping-note-tanzania http://hdl.handle.net/10986/22429 English en_US Political Champions Group country note; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Other Financial Sector Study Africa Tanzania |