Insurance brokers to discuss Covid-19 recovery efforts

The Insurance Brokers Association of Uganda (IBAU) will hold its 3rd annual conference on April 8, 2021, at Protea Hotel in Kampala, under the theme: “Navigating Risk in Today’s Changing World”.

“The theme is related to the unprecedented, destructive nature of Covid-19. This global pandemic tells us that things will always happen to us; but as risk handlers we need to prepare for any kind of uncertainty. So this conference gives us an opportunity to highlight today’s ultimate Covid-19 crisis management checklist for employers in addition to discussing other prevalent risks today and formulating effective resolutions,” said Solomon Rubondo, the IBAU chairman.

Other objectives of the forum include increasing the visibility of insurance as a risk management tool in today’s changing landscape, promoting cohesion and enhancing collaboration amongst all stakeholders while promoting professionalism within the institutional sectors.

The summit is planned as a half day hybrid event (physical and online attendance), with 70 people expected to attend physically and another 300 to 500 joining them via the online platform, Zoom. The afternoon will be dedicated to the association’s Annual General Meeting (AGM).

Rubondo implored the public to participate in the day’s proceedings enthusiastically, so as to appreciate insurance brokerage better.

"An insurance broker professionally evaluates a client’s risk exposure and tailors their insurance cover accordingly. We use our deep knowledge of the insurance industry to select the ideal policy package and negotiate with insurance companies to underwrite a client’s risk. In case of loss, a broker will guide a client through claims’ requirements and procedures to ensure the claims are paid promptly and fully – all at no cost to the client," he explained.

The 2021 conference, like the previous events has been set on a regional platform, drawing participation from colleagues within the East African sub region.

The keynote address will be delivered by Ramadhan Ggoobi, an economist and lecturer at Makerere University Business School (MUBS) focusing on recent events and developments that have disrupted communities globally, the trends to watch for the future survival of enterprise including regionalisation, globalisation, technology, disease and pandemics, challenges for the policy makers, insurance and risk management options and the new customer.

Ibrahim Kaddunabbi Lubega, the C.E.O Insurance Regulatory Authority of Uganda, will be the chief guest.