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Kampala, Uganda | PATRICIA AKANKWATSA | UAP Old Mutual Group walked away with 9 awards at the just concluded Uganda Insurers Association (UIA) awards held on April 27th at Hotel Africana.
UAP won awards in the categories of; Best New Agent to Rashid Kizito. 3rd runner up Highest Premium written Justine Namugosa, 1st runner up Highest premium written to Lydia Musimiire, 4th runner up highest number of policies written to Judith Kakuze, 2nd runner up Persistence award to Phillip Kasule, 1st runner up Persistency award to Justin Namugosa, 4th runner up Motor third party award (Northern Region) to Denis Pele, 2nd runner up Motor third Party award (Western Uganda) to Sarah Nayera and 2nd Runner up Agent of the year award to Lydia Musiimire.
Held under the theme “Celebrating the Role of an Agent in the insurance cycle”, the function was opened by Jonan Kisakye, the Chief Executive Officer of Uganda Insurers’ Association (UIA) who in his speech noted that the way the awards are carried has been changed to suit improving the performance of the insurance agents by giving the agents a platform to share feedback through the Insurance agents’ convention that took place earlier in the day.
He further explained that the Association is happy to have the agents, recognize and have them as witnesses of the best performers in the industry.
In 2023, the association felt it necessary to grow the awards to a major calendar event in Uganda’s Insurance industry. The UIA board agreed to embark on a journey that expanded the awards, a move which saw a new category introduced. That is the Motor third party which makes 70% of the Associations’ income.
Emmanuel Mwaka, the Chairman, of the Life and Pensions Committee of UIA noted that the agent’s role is crucial as a distribution channel of the insurance business. He appreciated the agents as they are the reason the awards take place.
welcomed the members present including the Guest of Honor, Chief Executive Officer Insurance Regulatory Authority (IRA) who was represented by Bernard Obel present and all insurance agents in attendance
While giving his remarks, Bernard Opel the Director of Supervision at IRA, Managing Directors who represented the Guest of Honor, the Chief Executive Officer Insurance Regulatory Authority (IRA) welcomed all participants to the function and thanked them for participating in the award.
“There is a need for more technological innovation to drive uptake of insurance in Uganda”, he said.
He further noted that Persistency is very key in this industry which is why the awards have a category that is particularly catering to it.
He concluded by encouraging the insurers to maintain a positive attitude in the market which will also require them to do personal evaluations of their day-to-day deliverables.
The categories of the awards included:
1. Agent of the Year award
2. Best New Agent award
3. Persistency award
4. Written premium award.
5. Number of policies.
6. Motor third-party award
