Govt urges NMB to promote road insurance

DODOMA: Vice President Dr Philip Mpango has called on NMB Bank to broaden its outreach and provide extensive education on insurance, particularly targeting motor vehicle operators and users.

Dr Mpango made this statement on Monday during his visit to the NMB exhibition booth as part of the 50th-anniversary celebrations of the National Road Safety Council in Dodoma.

NMB, in collaboration with Sanlam and Reliance Insurance Tanzania, served as the main sponsor for the celebrations, marking the third consecutive year of their sponsorship.

Dr Mpango stressed the crucial role of insurance for motor vehicle users, noting that many Tanzanians lack sufficient knowledge about its importance.

He highlighted NMB’s potential to reach a wider audience, given its status as a trusted institution.

“Many people fail to see the value of insurance. If nothing happens in the first to fourth year, they tend to drop it. NMB, you are well-positioned to tackle this issue.

“I urge you to take on this responsibility because the protection of motor vehicles lies in insurance, and nothing else,” said Dr Mpango.

The VP urged for more educational initiatives, particularly targeting motorcycle operators, commonly known as Bodaboda, and identified NMB as the ideal partner for this mission.

NMB’s Head of Bancassurance, Mr Martin Massawe said that the bank has engaged in productive discussions with driver associations across the country, resulting in many members enrolling in vehicle and life insurance policies.

Speaking on behalf of the other sponsors, Mr Massawe underscored the importance of Road Safety Week, which has been a priority for them, reflected in their continued sponsorship for the past three years.