Residents in Mbeya have been urged to embrace insurance services as a vital safeguard against financial shocks caused by medical expenses, road accidents, fire outbreaks, and business losses that continue to affect many households across the country.
The call was made during an insurance awareness campaign organized by Stanbic Bank Tanzania held at Kabwe Bus Terminal, aimed at improving public understanding of insurance products and addressing the low uptake of insurance services in Tanzania, which is largely driven by limited awareness and widespread misconceptions.
Speaking during the outreach programme, Stanbic Bank Insurance Officer Naphtal Ntangeki said many citizens continue to suffer avoidable financial hardship simply because they lack information about how insurance works and the protection it offers.
He said most people only start thinking about insurance after experiencing losses, a situation he described as costly and preventable.
“Many people only begin to understand the importance of insurance after they have already suffered losses. Our focus is to help citizens prepare in advance so that they are protected when unexpected events occur,” said Ntangeki.
He added that the campaign is part of Stanbic Bank’s wider initiative to take financial education directly to the public by reaching busy economic centres where traders, transport operators, and small business owners can easily access information and interact with experts.
According to him, the objective is not only to promote insurance awareness but also to help citizens understand the different types of insurance available, including health, motor, property, and business insurance, and how each can support individuals in managing risk and protecting income.
The Mbeya outreach attracted a wide range of participants, including small business operators, bajaji and motorcycle drivers, and other members of the public who engaged experts in discussions and asked questions about premiums, coverage options, and claim procedures.
Ntangeki said similar campaigns have already been conducted in other regions, including Tanga and Mwanza, as part of a nationwide effort to strengthen financial literacy and increase insurance penetration in the country.
He emphasized that insurance plays a key role in building financial resilience, especially for low- and middle-income earners who are often the most affected when emergencies strike.
Participants at the event said the campaign helped clear long-held misconceptions about insurance, with many admitting they previously viewed it as a service meant only for wealthy individuals or large businesses.
A bajaji driver, Benezeti, said the awareness campaign had changed his perception and helped him understand the importance of insurance in protecting his livelihood.
“Before this, I thought insurance was complicated and meant for rich people. Now I understand it is important for people like us because it protects our income and supports our families when accidents happen,” he said.
The campaign was conducted in collaboration with several insurance providers, including Britam Insurance Tanzania Limited, Heritage Insurance Company Tanzania Limited, Alliance Insurance Corporation Limited, and Sanlam Allianz General Insurance Tanzania Limited, who provided detailed guidance on insurance products and claim processes.
Financial sector stakeholders have continued to stress that increasing insurance awareness is essential for strengthening household and business resilience, particularly in a rapidly changing economic environment where risks are becoming more frequent and costly.
The Mbeya campaign forms part of broader national efforts to promote a culture of financial protection and encourage citizens to adopt insurance as a practical tool for safeguarding their future and improving economic stability.
