NMB BANK LAUNCHES DIGITAL MOBILE INSURANCE SOLUTION FOR MKONONI USERS

NMB Bank’s Chief Retail Banking – Filbert Mponzi (right) and the Relience Insurance Chief Executive Officer - Ravi Shankar (left) launching the NMB Mkononi Insurance cover that covers mobile phones against any damage. The launch event was held in Dar es Salaam.

NMB Bank’s Chief Retail Banking – Filbert Mponzi and the Relience Insurance Chief Executive Officer - Ravi Shankar launching the NMB Mkononi Insurance cover that covers mobile phones against any damage. The launch event was held in Dar es Salaam. Looking on is Acting Director of Legal affairs from Tanzania Insurance Regulatory Authority Emily Kiria (centre), NMB Head of BancAsurance – Martine Massawe (right) and the Relience Insurance Chief Finance Officer – Flora Mkaule.

• The cover is available to existing and new users of NMB Mkononi
• The insurance covers phone damages only and does not prone additional charges to NMB Mkononi users. 

Dar es Salaam. April 19th, 2021 - NMB Bank PLC has unveiled a partnership with Reliance Insurance to offer mobile phone insurance for customers using NMB Mkononi. The new insurance arrangement for NMB Mkononi users covers mobile phone damages.

While the claims process is supported by NMB Bank, Reliance Insurance Company will provide the insurance policy. With this insurance policy, customers will receive up to Tsh500, 000 per claim and a maximum of two claims per 12-month period.

The product dubbed NMB Mkononi Insurance cover provides protection against accidental damage in the event of an accident to mobile phone.

“With an increasing numbers of phone users in the country, there is an increased urgency to drive greater efficiency and improve the overall consumer experience at every touchpoint of the customer journey, “said Filbert Mponzi, NMB Bank’s Chief Retail Banking.

“Considering the connectivity they provide with people across the country/world, smartphones have gained huge importance in the recent decade. Some are dependent on it to communicate to the world through social media, while others like us need it as an extension to our workplace. In short, the fact that smartphones are now becoming the extra limb that humans have, cannot be denied.

Mr Mponzi said that, a customer will not pay for the insurance rather using NMB Mkononi makes a customer’s phone automatically have this insurance cover.

Keeping aside the actual cost of the gadget in one’s hand, it is a piece of great value for its user. And the fear of damaging a smartphone can be of great extent for many of us. To get rid of this nightmare for once and for all, we have made it easier by partnering with Reliance Insurance to provide this unique service for NMB Mkononi users,”said Mr Mponzi.

In alignment with NMB’s core values, we at Reliance are focused on the customer. Through NMB’s mobile phone insurance, we have created a tailormade, product and service, based on our deep expertise and underwriting experience in the banking sector. We believe that this will allow customers better ease of mind and hence leading to greater customer engagement, satisfaction and experience overall,” said Reliance Insurance CEO

The product fulfils the requirements of users in particular who want to cover in case of accidental damage to their phones. The cover is valid on monthly basis, and all an NMB Mkononi user needs to do is make at least ONE transaction a month ranging from all airtime purchases, QR code payments, Payments of Insurance Premiums and households bills like electricity and water. NMB Mkononi users get instantly covered against cracked screens, liquid damage and accidental damage. There’s no excess, but you’re limited to two claims per year. Phones now cost a small fortune, but you’re limited to Tzs500, 000 per claim.

This product comes in to not only entice customers into embracing more non- motor insurance covers but also encourage usage of NMB Mkononi for end-to-end transactions," Mr. Mponzi added.

A customer needs only to report the claim to the nearest branch of NMB or call NMB contact center 0800 002 002 Toll-Free, submit relevant documents, fill a claims form available at any of our 226 NMB branches countrywide, coupled with a technical report and submit the damaged phone at respective branch.

For more information, contact:

Eunice Chiume

NMB Bank Plc

Head; Communications and Corporate Affairs
Email: Eunice.Chiume@nmbbank.co.tz

About NMB:

NMB Bank Plc. (“NMB”) is a full service commercial bank incorporated in the United Republic of Tanzania. Through its 4 main business divisions: Retail, Wholesale, Agri and Treasury, NMB provides a suite of financial services and products to retail customers, farmers, SMEs, Corporates, Institutions and the Government.

The bank has 226 branches, over 8,000 Agents (Wakala) and more than 800 ATMs across the country and is represented in all districts of Tanzania. NMB has over 4 million customers and employs over 3,400 staff. It is listed at the Dar Es Salaam Stock Exchange and its largest shareholders are the strategic partners Rabobank with a 34.9% shareholding and the Government of Tanzania with a 31.8% shareholding.

Euromoney awards for excellence selected NMB as the “Best Bank in Tanzania” for 8 years in a row from 2013-2020. The bank has been named The Safest Bank in Tanzania for the year 2020 by Global Finance Magazine. NMB Bank was also awarded as the Best Blended Finance Partner in Africa for banks working with International Finance Corporation (IFC) of the World Bank Group in 2019. Also the Best Retail and Best Commercial Bank in Tanzania by the Banker East Africa Magazine in 2018. For more information about NMB and its services, please visit our website: www.nmbbank.co.tz