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Kampala, Uganda | THE INDEPENDENT | Ruth Namuli, the new Chairperson of the Uganda Insurers Association Executive Committee has promised to build on the achievements recorded by her predecessors to deepen insurance penetration and grow the sector in general.
The official handover took place during the CEO Club Cocktail held at UIA’s headquarters in Kampala last Friday. Namuli is the Chief Executive Officer of Sanlaam General Insurance Company Limited and has over 16 years of insurance sector experience.
She takes over this new role as Uganda’s insurance sector penetration continues to be limited to a few Ugandans, stuck at less than 1% for years, attributed to limited awareness of available products, limited usage of technology, and few product innovations.
The other hindering factor relates to limited income streams by the majority of the population to prioritize spending on insurance.
Namuli succeeded Latimer Mukasa whose term of office expired after serving six years. Mukasa will now serve as an x-official on the UIA Executive Committee.
“We plan to continue with the initiatives in place riding on technology and digital solutions that enhance product development. We will also strengthen collaboration and partnerships with sector players. We will also engage on issues of Environment Social Governance to be competitive globally and sustainable.”
Additionally, Namuli plans to push for avenues to combat fraud claims in the industry by working closely with the regulator. One of the avenues is the creation of a special reference bureau to deal with this industry threat.
The Chairman of the Insurance Brokers Association of Uganda, Paul Muhame, expressed gratitude to the outgoing leadership led by Latimer Mukasa, for their efforts in establishing a solid foundation for the insurance industry’s growth.
He also expressed his optimism about Ruth Namuli’s ability to elevate the association to new heights. He commended the UIA for the effective publicity campaigns geared toward promoting insurance.
Muhame said CEOs in insurance must work with the regulator to routinely improve customer satisfaction levels and drive the update of insurance.
Jonan Kisakye, the Chief Executive Officer of Uganda Insurers Association welcomed the new leadership and promised to seek strategic guidance for running the association sustainably.
