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Insurance Regulatory Authority awards industry players

Insurance Companies Awarded By Regulatory Authority In Virtual Event

The Uganda Insurance Regulatory Authority has recognized various insurance companies during the inaugural annual insurance innovation awards held on December 18.

13 insurance companies participated in the virtual Inaugural Insurance Innovation Awards.

These industry players included: Excel Insurance Company, Legacy Insurance, ICEA Life, Jubilee Insurance, Life Alliance Assurance, Jubilee Insurance General, Diamond Trust Bank, Housing Finance Bank, ICEA General Insurance, Kenbright Insurance brokers, Prudential insurance company, Minet Limited and Turaco Insurance Company.

The competitions saw these firms gunning for various categories of awards, others took home awards while others also lost.
These included; the Most Innovative Life Insurer Award; Most Innovative Non-life insurer award; The Most Innovative Insurance Broker; Most Innovative Bank Assurance Agent and Most Innovative Non- Life Insurance Agent.

The executive director of IRA, Kaddunabbi Lubega said the objective of the awards was to provide a platform for knowledge and also information dissemination. Especially by sharing the best practices, experiences and expertise. It was also meant to foster innovation and creativity in the insurance service value chain and subsequently expand the insurance market boundaries.

“Innovation is many things – but its ultimate goal is to improve our processes to make the life of customers better and business growth. The time is now for the insurance sector to diffuse, adopt and also  embrace the use of digital platforms to connect easily with different networks, communities aiming at improving service delivery and offering real value to insurance consumers,” he said.

Here are the winners in different categories;

The Most Innovative Life Insurer award- Prudential insurance company

Most Innovative Non-life insurer award- ICEA General Insurance

The Most Innovative Insurance Broker- Minet Limited

Most Innovative Bancassurance Agent- Housing Finance Bank

Most Innovative Non- Life Insurance Agent- Turaco Insurance Company

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