By Sampaul Nakhaima
The State Minister of Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi, has challenged members of the Organisation of Eastern and Southern Africa Insurers (OESAI) to move beyond diagnosing risks and focus on delivering practical solutions that meet the evolving client needs.
Speaking at the official opening of the 47th OESAI Conference and Annual General Meeting on August 25, 2025 at Munyonyo Speke Resort Convention Centre, Hon. Musasizi underscored the urgency for insurers to expand inclusion and rebuild public trust.
“The barriers are well known: limited awareness, affordability constraints, and persistent trust deficits. Today, I challenge us to move beyond diagnosis to providing solutions by embedding microinsurance and community-based schemes into national social protection frameworks, investing in building trust and governance, and harnessing innovation through mobile and digital channels,” Hon. Musasizi said.
He further cautioned insurers against overemphasizing profitability as the sole measure of success, urging them to consider their broader impact as well.
“Success for the insurance industry should not be measured only in profitability, but in how many lives are protected; how many businesses recover from shocks; and how many communities are made more resilient. Insurance should not only be viewed as a business, but as a public good and a pillar of shared prosperity,” he noted.
OESAI is a membership organization with 135 member companies, spanning countries both within and beyond the region.
Speaking at the same event, the Insurance Regulatory Authority of Uganda (IRA) Chief Executive Officer, Alhaj Kaddunabbi Ibrahim Lubega, urged insurers to prioritize customer experience as a driver of growth, profitability, and penetration.
“The next gains will come from three things: agility, simplicity, and fairness – how fast you issue and pay claims; how easy products are to understand; and how well customers are treated across the insurance life cycle,” he said.
Highlighting IRA’s progress, Alhaj Kaddunabbi remarked that the Authority has strengthened its systems to meet global best practices in customer service.
“We are now ISO 9001:2015 certified. This certification reinforces customer focus and continuous improvement in our service delivery. It ensures transparent service standards, clearly defined processes, and improved data management, which hold us accountable to our stakeholders,” he noted.
Running until August 27th, the 47th OESAI Conference has brought together over 680 delegates from the insurance industry, business community, government, and regional stakeholders. The conference provides a platform to share experiences and address both opportunities and challenges within the evolving business environment