Prudential Uganda wins big in insurance innovation awards

Prudential Uganda has won the people’s choice award in the 3rd Annual Insurance Innovation Awards organised by the Insurance Regulatory Authority of Uganda.

The People’s choice award is a new category introduced by the regulator, seeking the public’s opinion on their most preferred insurance provider.

The awards held on March 10 at the Kampala Serena hotel, are the third to be held in Uganda following the inaugural awards in 2020.

The awards provide a platform for knowledge and information dissemination by sharing the best practices, experiences, and expertise, fostering innovation and creativity in the insurance services value chain, and subsequently expanding the insurance market boundaries.

“The people’s choice award is a prestigious award, and it speaks to the trust and confidence our customers and the public have in Prudential. We do not take this vote of confidence for granted and we shall continue to do our best to ensure that we help our customers make the most out of in every step of their health, wealth, and wellness journey,” said Tetteh Ayitevie, Prudential Uganda’s CEO.

Prudential Uganda was recognised under three categories under which we emerged runners up: the Stanbic MediPtotect and Family Protection Plan with Absa were nominated under the most innovative life insurer category.

Stanbic Mediprotect is Prudential’s bancassurance product with Stanbic Bank. It is a retail health insurance offering that helps Stanbic bank customers to affordably access health insurance on individual basis.

The family protection plan is also Prudential’s bancassurance Product with Absa bank, it is a life insurance policy, designed to help families plan for the financial needs faced during the loss of a loved one who is either a member or immediate member of a family.

The policy caters to funeral expenses and other paybacks to help families navigate the unexpected hardships that arise during times of loss and grief.

Prudential’s Financial advisors; Tonny Mugisha, Innocent Mushabe and Asuman Kalenge were nominated for most Innovative Insurance Agent Award, with Tonny Mugisha taking home the award for 2nd runner up in the category.

PruHub Mobile, Prudential’s mobile Application that drives customer servicing and guides sales representatives on after sales servicing was also received recognition and emerged second under the insure-tech of the year award.

Tetteh said that being nominated under the most innovative agent category proves that Prudential is setting the standard when it comes to innovation for customer service and retention.

“I congratulate our very own Tonny Mugisha for coming second in the category. This win is no coincidence as Tonny is a member of the Million Dollar Round Table (MDRT), a global, independent association of the world's leading life insurance and financial services professionals from more than 500 companies worldwide. We are proud of his work and his contribution to professionalising the industry in Uganda,” he said.

The Insurance Regulatory Authority (IRA) introduced these awards in 2020 after realising that innovation is increasingly becoming critical to the long-term success of the insurance industry.

The Annual Insurance Innovation Awards are a purpose-driven initiative by IRA that is committed to developing and professionalizing the insurance in Uganda.

The initiative aims to motivate, facilitate and promote Sector Product Innovation and Developments through recognizing players that have been more innovative than others.