Stanbic Bank Tanzania Launch Asset Protection Insurance

Stanbic Tanzania Asset Protection Insurance Bima Bomba

Stanbic Bank Tanzania has launched its new bancassurance service named “Bima Bomba’’ which provides customers with insurance policies to protect and secure their assets and investment from potential risk. 

Speaking on the new insurance, the bank’s Head of Personal and Business Banking, Brian Ndadzungira said, “As a customer-centric bank, we understand that an accident or damage can affect you or your assets financially and physically. This is why as part of our bancassurance we have rolled out this solution to encourage Tanzanians to safeguard their assets and start considering insurance as a basic need.”

He further welcomed all Tanzanians to secure their assets with Stanbic bank. “Our clients now have the opportunity to access insurance services in all our branches. The launch of Bima Bomba complements our mission that aims to empower the financial success of our customers through a full suite of accessible, simple and easy to use products,” Ndadzungira noted.

According to the 2018 annual performance report by Tanzania Insurance Regulatory Authority (TIRA), the insurance market grew by 8.6%, therefore, the bank also aims to continue propelling the industry and increase its contribution to the national GDP.

“We believe that our financial advisory expertise and knowledge of local markets helps us provide premier insurance solutions tailored to our customers. These elements will empower them to grow and protect their investments,” Ndadzungira concluded.

Stanbic Tanzania

Stanbic Bank Tanzania is a full service commercial bank which specializes in providing facilities and services to public and private sector corporations, diplomatic missions and international organizations.

Stanbic Bank Tanzania is a member of the Standard Bank Group (JSE:SBK) of South Africa, the largest African bank by assets, operating in 20 countries across Africa.

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The group has been operating in Tanzania under the Stanbic Bank brand since 1995 focusing on all the key growth sectors in Tanzania, including agriculture, telecommunications, oil and gas, power and infrastructure, and fast-moving consumer goods.