The Fintech & Insurance Training Workshop took place on July 4th, 2024, at Protea Hotel Kampala. The workshop, a collaborative effort between UIA, (Financial Technologies Service Providers Association) FITSPA, and Reinsurance Solutions, sought to equip fintech entrepreneurs with essential insights into insurance mechanisms for sustainable business operations. The workshop was attended by both members of UIA and FITSPA.
Our Market Development Manager, Annet Katusiime, in her opening remarks, emphasized the significance of the UIA-FITSPA partnership in fostering growth opportunities for their respective memberships. She noted that the workshop aimed to raise awareness among fintech entrepreneurs about available insurance solutions for their businesses. She further urged them to leverage the workshop as a networking platform and to continue the conversations beyond the event.
Insightful sessions on Commercial Crime and Cyber Insurance Policies were presented by Carol Mambo, the Regional Manager East Africa at Reinsurance Solutions. She detailed how these policies address financial risks inherent in businesses, particularly emphasizing the threats posed by employee infidelity and cyber incidents. Carol encouraged entrepreneurs to adopt stringent measures and consider comprehensive insurance coverage to mitigate evolving risks effectively.
Harold Mbati, Executive Director of Reinsurance Solutions, expressed gratitude to UIA for the opportunity to discuss critical insurance policies. He stressed the importance of proactive risk management strategies for entrepreneurs in safeguarding their businesses amidst the increasing incidences of cyber-attacks.
UIA CEO, Jonan Kisakye, delivered the closing remarks, highlighting the strategic objectives of the UIA-FITSPA partnership and its potential to foster significant advancements in insurance practices. He introduced the technical committee members tasked with facilitating meaningful engagements and ensuring the effective implementation of the partnership’s collaborative initiatives.
Jonan commended FITSPA for promoting insurance literacy and proposed more initiatives to streamline insurance product understanding among its members. He extended his appreciation to Reinsurance Solutions for their support and acknowledged the fintech entrepreneurs for their active participation, affirming the workshop's profound impact.
The workshop demonstrated UIA’s commitment to creating platforms for its members and prospective clients to discuss available insurance solutions by providing critical – information necessary to obtain coverage.