The Insurance Regulatory Authority (IRA) has announced that this year’s annual insurance week will take place from March 11 to 15 at the Railway grounds in Kampala. The IRA CEO, Alhaj Kaddunabbi Ibrahim Lubega, said during the launch on Friday that the insurance week is an opportunity for the sector players to review their progress and plan for the future.
“The insurance week is a time when we acknowledge the vital role of insurance in protecting communities from unforeseen risks. It is not just an event, but a critical moment where we demonstrate why we are essential. The insurance week is a testament to the important role of insurance in our lives,” Kaddunabbi said.
He said that as part of the activities, all insurance players will come together in one space to offer services to the public, provide advice, and answer questions.
Innovation
The IRA CEO said that during the insurance week, the sector players will display innovations aimed at increasing insurance penetration.
“We have adopted innovation and technology to improve the services we offer to the public, streamline our operations, and make it easier for each consumer of insurance services. We also use innovation and technology to enhance our risk management strategies. We continue to adapt to the changing needs of our clients. We will showcase all this during the insurance week,” Kaddunabbi said.
“From natural disasters to public health crises, we have kept our promise to provide peace of mind to Ugandans. Those who have not benefited from what insurance offers, in 2024 come closer to the insurance industry and get a solution.”
The insurance week will also have a medical camp where various health services, including free HIV testing and counselling, vaccinations, blood sugar and pressure testing, and others, will be offered.
According to the Deposit Protection Fund’s director for investments, Alan N. Lwetabe, the insurance week will be another chance to extend knowledge to the public about the insurance sector.
“We will provide financial literacy to the masses and also explain to them more about insurance and the work of the Deposit Protection Fund in securing their deposits in banks and financial institutions.”
“We bring and look forward to bringing awareness about insurance in all its aspects. We believe that by participating in this insurance week, we will be able to raise the awareness of having insurance among the masses.”
The Uganda Insurers Association CEO, Jonan Kisakye, said that public engagement is key to improving insurance penetration.
“It is our duty to help in improving insurance penetration. This week gives us a chance to showcase our products, interact with people, and demonstrate how insurance works. This way, we will make the public aware of insurance,” Kisakye said.
