Prudential Uganda has been awarded the most innovative life insurance company for the year 2020 at the inaugural Insurance Innovation awards organized by the Insurance Regulatory Authority (IRA).
While recognising the award, Arjun Mallik, the managing director, Prudential East Africa said that the reason for their innovation is for the service of customers.
"Innovation is not about implementing a system, indeed, innovation for it to thrive, needs to be an aspect of DNA, of culture, and of how we do things," Malik said.
Speaking at the award gala, Ibrahim Kaddunabi Lubega, the chief executive officer, Insurance Regulatory Authority said “innovation is many things but the ultimate goal is to improve our processes to make the life of customers better."
The Insurance Innovation Awards are aimed at recognising, appreciating, and motivating the innovators and the role innovation plays in advancing the insurance sector in Uganda.
According to IRA, the focus of these awards is on use of new technologies, new products, services, and other advancements in the insurance industry with the aim of fostering innovation and creativity in the insurance sector.
Prudential was recognised for, among many others: Innovative Product design: - Being the first company in Uganda to launch a free COVID-19 cover to all customers, public, staff and agents at the height of the pandemic which impacted over 50,000 individuals.
It was the first company to launch a dollar denominated product to cater a particular segment of the market, the actuarial services supporting this product equals to over Shs 4.4 billion.
Pioneering Cardiovascular health in Uganda: - 10 million people have been reached with a message to protect their heart through the Omutima Gwo heart campaign in partnership with the Ministry of Health, Uganda Heart Institute and media partners.
