CRDB Bank agents will start to provide insurance services as part of campaign to push insurance outreach, the bank has said
Speaking at the launching of the campaign in Dar es Salaam yesterday, CRDB’s Director of Retail Banking Mr Bonaventure Paul said lender is focused to promote insurance services inclusion from 15 per cent to at least 50 per cent by 2030.
CRDB’s Director of Retail Banking Mr Bonaventure Paul said the campaign intends to motivate the bank agents to continue giving the best service, including making more transactions to stimulate financial inclusion.
“The best agents will be awarded various awards including motorcycles, tricycles and also a car to the overall winner,” he said.
Monthly awards include 40 motorcycles, five tricycles, and a Toyota Alphard minivan. The awards will go to the best agents who transact most through mobile, account opening and insurance cover.
The campaign is part of activities to celebrate the 10 Anniversary of CRDB Bank agents that have helped to bring financial services closer to the people.
CRDB agents provide employment to over 35,000 people while made a significant contribution to the delivery of bank services to customers reaching more than three million per month.
Mr Paul said CRDB Wakala on average handle some 100 million transactions worth 50 tri/- annually.
About 60 per cent of CRDB agents customers are non-bank clients while the 40 per cent are their customers.
Tanzania Insurance Management Authority (TIRA), Deputy Commissioner, Ms Khadija Said said the lender with 25,000 wakala countrywide is set to speed up the insurance penetration by increasing network outreach.
“The number of agents is an extension to reach many and assist the sector to fulfil the government goal to increase insurance penetration by 2030,” said Ms Said.
CRDB, under its bancassurance wing, is selling both life and non-life covers.
CRDB agents transact at least 95 per cent of the lender’s services including the opening of the accounts. The insurance set to spice further agents services.
Additionally, the deputy Commissioner said CRDB Wakala campaign to market the insurance will enhance competition among players, especially brokers to improve efficiency which is a plus for the insurance penetration drive.
