The Insurance Regulatory Authority of Uganda (IRA) has committed to continue encouraging and supporting insurance service providers to embrace innovation so as to increase uptake and access to insurance services by Ugandans.
The commitment was made by the IRA Chief Executive Officer, Alhaj Kaddunabbi Ibrahim Lubega at the launch of the ICEA-LION Assurance Annuity Plan at Protea Hotel, Kampala on July 19, 2022.
Kaddunabbi, innovation is key in driving the agenda of increasing the uptake of insurance services in the market and deepening financial inclusion for sustainable socio-economic growth.
He challenged ICEA-Lion Assurance and other Life Insurance Companies to innovate more products that address the needs of the common man. He cited an example of a medical ins
According to Alhaj, an insurance product that allows one to access medical during retirement, among others.