Liberty shines at IRA's insurance awards
Liberty Life Assurance Uganda took home a couple of awards on Friday night as the Insurance Regulatory Authority rewarded the best innovative players in the country’s insurance sector in the year 2023.
At the awards held at Kampala Serena Hotel, Liberty won the special judges winner award for its Afya Plan which was rewarded for its innovative design, digital approach and affordability which has helped driving penetration of insurance.
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Liberty's SafeBoda Insured Plus rides in partnership with Stanbic Bank Uganda was also awarded for being the most innovative bancassurance solution while Liberty's partner, Weerinde Brokers' Munno Mukabi took home the accolade for being the most innovative broker solution.
The deputy speaker of parliament, Thomas Tayebwa who was the chief guest hailed the insurance companies for helping drive penetration of the sector but also protect Ugandans from unforeseen risks.
He also urged insurance companies to be on the lookout for fraudsters in their clients who want to be paid what is not due to them.
The Insurance Regulatory Authority CEO, Alhaj Ibrahim Lubega Kaddunabbi underscored the role of innovation in helping deepen insurance.
“As Insurance Regulatory Authority, we have always believed in pushing the boundaries of what is possible. From leveraging cutting edge technology to enhance customer solutions to serve customer demands, innovation is indeed a very good ingredient for insurance,”Kaddunabbi said.
“I want to reaffirm our commitment to push our boundaries to what is possible. Similarly, I want to challenge sector players to embrace change continuously. We should have a future where our industry thrives on innovation and resilience.”
Commenting about the three awards won, Liberty Life Assurance Uganda CEO, Mohammad Danish Eqbal said the awards are a testament to the company's efforts in always being ready to introduce products tailor-made for the Ugandan population in terms of insurance.
"We are deeply honored to receive these prestigious innovation awards; this highlights our commitment to innovation and dedication to making a meaningful impact in the lives of those we serve. Insurance should be accessible to everyone, regardless of their economic background. Talks need to transient into action on the ground," Eqbal said.
"I would like to thank our dedicated team, our partners, and our customers for being a part of this incredible journey. Together, we are making a difference"
Joseph Almeida, the Managing Director for Liberty Life Assurance Uganda said the awards demonstrate the company continues to be a leader in terms of innovation.
"With creativity and a deep understanding of our customers’ needs, we can develop solutions that are both inclusive and impactful."
Juliet Murungi Okwi, the business development manager at Liberty Life Assurance said that the recognition from Insurance Regulatory Authority motivates “us to continue pushing the boundaries of what’s possible, to innovate with purpose, and to lead the way in creating a more inclusive and financially secure future for all."
