Insurance brokers will need to evolve on how to engage, advise and on-board customers Kampala, Uganda | ISAAC KHISA | Uganda’s commercial banks earned Shs12bn in commission as insurance agents for nine months to September 30, 2021, underscoring the significance of banscassurance as a new revenue stream for financial institutions. …
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Failure to operationalise the National Health Insurance Scheme and resurgence of COVID-19 may constrain demand for insurance Kampala, Uganda | ISAAC KHISA | Uganda’s insurance industry is projected to register consistent growth in 2022 riding on technology innovations, government’s investment in infrastructure and increased economic activities as economy opens up. …
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Since the rolled out of mandatory mobile motor third party insurance in 2019, 414,550 policies have been issued through the system worth Shs 30.6bn in premiums Kampala, Uganda | ISAAC KHISA | The Insurance Regulatory Authority has linked its third party insurance platform to the police’s Express Penalty Scheme system …
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Kampala, Uganda | THE INDEPENDENT | Uganda’s insurance industry is struggling to deal with the high levels of evasion of the Motor Third Party Insurance, a compulsory insurance policy for all motor vehicle or motorcycle owners. The insurance industry players say boda boda riders or owners, followed by taxis, are the …
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IRA hopes that 2021 will be a better year compared with last year amidst the new wave of coronavirus pandemic Kampala, Uganda | ISAAC KHISA | Enhanced distribution and sustainable growth in the uptake of medical and life insurance policies helped Uganda’s insurance industry to record a 9% growth in …
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Takaful is a co-operative system of reimbursement in case of loss, organized as an Islamic or sharia compliant alternative to conventional insurance Kampala, Uganda | THE INDEPENDENT | The regulations that will guide the establishment of Takaful, the kind of insurance that employs Islamic principles for members to contribute money into …
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Kampala, Uganda | THE INDEPENDENT | More Ugandans are buying insurance through their banks as the channels have boosted confidence in insurance, players have said. Official figures show an upward curve of insurance products through banks, which is technically known as bancassurance. It started in Uganda in 2017 after the amendment …
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The new technology extends relief to insurers to curb industry fraud Kampala, Uganda | ISAAC KHISA | For many years, Uganda’s insurance firms have failed to grow the Motor Third Party Insurance business amidst a surge in the number of vehicles on the roads as a section of motorists resorted …
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Kampala, Uganda | THE INDEPENDENT | Ugandans and businesses should be given a grace period of up 90-days in which to pay their insurance before they are rendered uncovered, the industry regulator Insurance Regulatory Authority has advised. In a letter to all insurance companies, IRA advises that a “grace period …
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Kampala, Uganda | THE INDEPENDENT | As most businesses scratch for options on how they will cover for losses incurred as a result of coronavirus disruption, it has emerged that insurance providers may not be a run to option. This according to several players in the industry is because COVID-19 …
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The Independent Uganda: You get the Truth we Pay the Price