NMB, MetroLife launch digital group insurance campaign

DAR ES SALAAM: NMB Bank, in partnership with MetroLife Insurance Company, has officially launched a Digital Group Insurance Campaign aimed at expanding access to insurance services and promoting financial inclusion across the country.

During the launch in Dar es Salaam, on Thursday, on May 29, 2025, Tanzania Insurance Regulatory Authority (TIRA) Commissioner, Dr Baghayo Saqware commended NMB for its innovative investment in modern technology aimed at solving various challenges, particularly in the area of group insurance.

Dr Saqware stated that NMB Bank has consistently supported the government’s agenda of ensuring that more Tanzanians purchase insurance policies, which will significantly help reduce dependency within communities.

He noted that the partnership between NMB Bank and MetroLife Insurance will help many Tanzanians gain insurance education and access insurance services for their benefit and that of their communities.

“NMB, I sincerely thank you for your innovation in pushing forward the government’s agenda to increase insurance uptake among Tanzanians,” said Dr. Saqware.

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He added that the launch of group insurance is a breakthrough for many citizens involved in various groups, particularly since most people now own mobile phones— making it easier for them to access insurance services.

He urged NMB Bank to continue advancing the insurance agenda, noting that the number of insured individuals is still low, which contributes to high levels of dependency.

On his part, NMB’s Chief Officer for Retail and Business Banking, Mr Filbert Mponzi, stated that the Group Insurance plan is designed to benefit many Tanzanians in groups, where each member contributes as little as 500/-.

In return, a member who experiences bereavement can receive a condolence payout of up to 1m/-. He encouraged Tanzanians to seize the opportunity presented by NMB and MetroLife to access group condolence insurance, noting that the service is already operational.

“As of today, the group condolence insurance we are offering with our partner MetroLife is now available at our NMB Jirani agents, meaning you can now get Group Insurance even from your neighborhood agent,” said Mponzi.

Mr Mponzi also urged Tanzanians to open accounts with NMB, which continues to offer various solutions without requiring visits to its branches across the country.

Earlier, during a panel session, NMB Bank’s Head of Insurance Department, Mr Martine Massawe, announced that insurance services have now been decentralized from bank branches to reach customers directly at their convenience.

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Mr Massawe added that the service has been improved to ensure claim payments are processed within 48 hours to eliminate delays and inconvenience for clients. MetroLife Insurance Company Director, Mr Amani Boma, outlined the benefits of Group Insurance, including small contributions from each member over the course of a year, which collectively benefit both the individual and their family.

He explained that Group Insurance will be available to groups starting from as few as five people—even if the group is not formally registered—and encouraged Tanzanians to take advantage of this opportunity to reduce dependency during times of loss.