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17 Mar 2020

IRA TAKES INSURANCE GOSPEL TO KYAMBOGO UNIVERSITY

In efforts to continue educating the public about the need for insurance, the Insurance Regulatory Authority of Uganda (IRA) took its engagement to Kyambogo University. The engagement was with the membership of Kyambogo University Economics Students Association (KYUESA) on 27th February 2020 under the theme, “Smoothening bad luck through insurance - the Role of Insurance in Sustaining Development.”

A team led by Mr. Sande Protazio, the Director Planning, Research and Market Development at IRA took students through several topics all with the aim of sensitizing them on landscape and operations in the insurance market as well as the potential role of insurance in development.

“The insurance industry is well placed to help design innovative products and contribute to solving urgent national societal challenges such as ageing population and emerging threats such as climate change and cyber risks. Insurance allows different risks to be managed more efficiently, works in an efficient environment, and encourages loss mitigation,” said Mr. Sande.

Ms. Sheeba Ddungu, the Market Development Officer at IRA encouraged students interested in insurance policies to purchase from licensed insurance companies and avoid becoming victims of fraud. Mr. Sampaul Nakhaima, the Communications Officer highlighted the implications of an uninsured economy.

Students appreciated IRA for the time and resources provided and further responded to presentations by sharing concerns regarding the need to know how different insurance policies work especially Motor Third Party and Medical insurance among others.

Students were encouraged to consider pursuing insurance professional courses during or even after completing their academic programs.