Like other businesses, the Prudential insurance group has had a tough year, but its Africa CEO Matt Lilley is optimistic about the company’s prospects on the continent. He spoke to African Business Magazine’s Desné Masie about the company’s strategy, the role of technology in digital inclusion and product innovation. Could …
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Kampala, Uganda | THE INDEPENDENT | Farmers in Acholi sub-region are yet to embrace insurance policies put in place to protect them from losses arising out of drought, pests and disease and floods among other calamities. The government unveiled in the financial year 2016-2017, a 5 billion Shillings Agriculture Insurance Premium …
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Bancassurance has recorded Shs52bn for the three quarters of this year ending Sep.30 Kampala, Uganda | ISAAC KHISA | Embedded insurance model is turning out to be one of the most viable options of selling insurance services to customers as the country strives to increase insurance coverage and deepen penetration. People …
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Kampala, Uganda | THE INDEPENDENT | The Makerere University’s main building widely known as the ivory tower that was razed by fire over the weekend was not insured. According to the university administration, the building whose structure mainly constituted of wood and steel was never insured because insuring it was …
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Kampala, Uganda | THE INDEPENDENT | Insurance players in Uganda have said that the high taxes imposed on insurance premiums are kicking them out of business. An insurance premium is the amount of money an individual or business pays for an insurance policy. Insurers say that on top of every …
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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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Under this scheme, a farmer is required to pay about 30,000 shillings per acre to insure their crops each season. Once their crops are affected by either drought or rain, they are entitled to a minimum compensation of Shillings 150,000 per acre of the crop depending on the market price. …
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Kampala, Uganda | THE INDEPENDENT | Insurance training institutions across Africa say the coronavirus crisis has presented them with an opportunity to save money through conducting online classes for the professionals in the industry. In a zoom meeting with players from all over Africa, participants said before the outbreak of …
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Gross underwritten premiums to plummet in 2020 THE INDEPENDENT | ISAAC KHISA | A surge in claims and management expenses saw Uganda’s nonlife insurance firms record 8% drop in profit to Shs17.93bn for the year ended Dec.2019. However, the industry executives said there is nothing to worry about since the …
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