Insurance plays a critical role in financial security, yet misconceptions, low penetration, and policyholder distrust continue to hinder its growth in the country. The Uganda Insurers Association (UIA), in collaboration with the School of Management & Entrepreneurship (SoME) at Kyambogo University is on a mission to change this narrative. On 5th February, 2025 we held SoME-UIA Research Collaboration Dissemination Workshop where academia and the insurance industry came together to address critical insurance challenges, with a focus on accessibility, transparency, and innovation.
Dr. Obanda Peter, Dean of Students at SoME, commended UIA for championing student-led research and recognized the organization’s potential to drive meaningful change in the industry. He emphasized that the real challenge is not just getting people insured but ensuring they understand and trust the system. To do this, insurers must design more inclusive products, tailor solutions to Uganda’s unique market dynamics, and align with global best practices.
The industry’s role, however, does not stop at product development. Transparency and efficiency must be at the forefront. Dr. Obanda urged UIA and the regulator to continuously refine policies and ensure claims processing and service delivery meet the needs of the public.
Our CEO, Jonan Kisakye highlighted one of the industry’s biggest hurdles is public skepticism fueled by misinformation and lack of awareness. He emphasized the importance of strategic collaborations like the one with Kyambogo University, which does not only help to demystify insurance, but also equips the insurance industry with research-backed solutions.
Jonan pointed out that a proactive approach is needed to change perceptions. He noted that if the industry engages more with communities, simplifies complex policies, and leverages technology for customer education, insurance uptake will increase. He also expressed confidence in Kyambogo University’s ability to become a national hub for insurance research further strengthening the industry’s knowledge base.
The workshop featured insightful research from students tackling real-world insurance challenges: Ivan Wamono’s research uncovered that life insurance policyholder retention has dropped from 85% to 60%. He identified financial literacy gaps, low engagement, and lack of flexible products as key reasons for this decline. He suggested that UIA and insurers prioritize consumer education, expand micro-insurance options, and invest in retention strategies that build long-term trust.
Barbra Rukundo’s study revealed a significant gap in understanding Motor Third Party Insurance (MTP). Her findings showed that only 4% of Ugandans fully understand the policy, while 52% have partial knowledge, and 44% have no idea what it entails. To many, MTP is just another legal requirement rather than an essential protection tool. To tackle this, Barbra recommended that UIA collaborates with local leaders, transport unions, and community influencers to run awareness campaigns. She also suggested using local languages and interactive sessions to make insurance concepts more relatable.
Professor Maria Goretti N. Musoke, Deputy Vice Chancellor for Academic Affairs at Kyambogo University, applauded UIA for its commitment to research and innovation. She called for stronger industry-academic ties and urged insurers to focus on timely claims processing to rebuild public trust.
The workshop was a stark reminder that research can drive real change. The insights shared are a call to action for UIA & its members to rethink how we engage with insurance customers, develop better products and ensure that insurance is not just available but truly accessible.
