The Annual Insurance Innovations Awards 2023 organized by the Insurance Regulatory Authority (IRA) took place on 15th March, 2024 at Kampala Serena Hotel under the theme: InsureVate: Igniting experience in the insurance sector. The awards are meant to recognize & reward outstanding innovation in the insurance industry.
UIA Board Chairman - Latimer Mukasa lauded the insurance sector for showing resilience and adaptability by leveraging innovation to enhance customer experience, streamline processes and improve risk management practices. He thanked the media for their crucial role in shaping public perception and understanding insurance while fostering transparency and accountability within the industry. Latimer congratulated all the nominees and winners and called for continued innovation, collaboration and transformation in the insurance industry.
The CEO of IRA - Alhaj Kaddunabbi Ibrahim Lubega thanked the Annual Insurance Innovations Awards partners for the support rendered and highlighted the essential need for collaboration in the insurance sector to facilitate the sharing of best practices and innovative approaches to risk management. He added that this will lead to improved financial stability, operational efficiency and resilience in the face of emerging risks & uncertainties.
The Guest of Honor at the Awards was Rt. Hon Deputy Speaker of Parliament - Tayebwa Thomas. He expressed his appreciation for the insurance players’ aggressive efforts in spreading insurance awareness and increasing the uptake in the country. He emphasized the importance of integrity & professionalism to eliminate public skepticism towards insurance and urged Ugandans to embrace insurance.
The winners of the different categories included: AAR Health Services (U) Ltd (Ddwaliro Care) - the Most Innovative Non-life Solution, CIC Africa Assurance Ltd (CIC Kameeza Plan) – the Most Innovative Life Solution, Stanbic Bank Uganda Ltd (SafeBoda Plus Rides - Insured Rides) – the Most Innovative Solution (Bancassurance Agent), Smart Applications International (U) Ltd (Smart Visual Access) – the Most Innovative InsurTech Solution, SPADES Insurance Brokers (The Agent Banking Insurance) – Most Innovative Broker Solution, Nelson Mandela Muhoozi of New Vision - Insurance Media Personality of the Year, Liberty Life Assurance Uganda Ltd (AFYA Plan) - Judges Special Award & Prudential Assurance – the People's Choice Award.
The Annual Insurance Innovations Awards 2023 were organized by the IRA in partnership with Uganda Insurers Association, Insurance Training College and the Insurance Brokers Association of Uganda. Other speakers included: Director Strategy and Marketing, Insurance Regulatory Authority - Sande Protazio, CEO Uganda Re - Ronald Musoke.
