CRDB Bank out to boost insurance service uptake

Dar es Salaam. CRDB Bank’s agents will now be offering insurance services as the lender seeks to play an increasingly important role in boosting the uptake of indemnity services across the country.

With over 25,000 agents – who are known as CRDB Wakala – the bank stands a good chance of lifting insurance uptake from the current 15 percent of adult Tanzanians to 50 percent in the year 2030 in line with the government’s aspirations.

Gracing the launch of the initiative in Dar es Salaam yesterday, the Deputy Commissioner for Insurance from Tanzania Insurance Regulatory Authority (Tira), Khadija Said said the move was important in boosting uptake insurance in the country.

“With over 25,000 agents, it goes without saying that it will greatly improve the uptake of insurance services in the country,” she said, urging the agents to follow the laid down procedures.

CRDB Bank will conduct a special campaign codenamed: ‘10 na Kitu’ in its effort to create public awareness regarding its services, including insurance products.

She commended CRDB Bank for ensuring that 95 percent of its services – which include account opening – are being accessed through the bank’s agents.

CRDB Bank’s director of retail banking Bonaventure Paul said the ‘10 na Kitu’ campaign was deliberately designed to celebrate 10 years since the lender introduced its agent banking services.

“We will therefore be giving out awards to our agents on monthly basis. The agents to be awarded will be those that will have conducted the highest number of transactions; those will have opened the highest number of accounts and those who will have sold the highest number of insurance products,” he said.

In total, the bank will give out 40 motorbikes, five tricycles and a Toyota Alphad to its agents during the period of the campaign.