The Insurance Regulatory Authority has recognised various players during the inaugural annual insurance innovation awards held on December 18.
13 insurance players participated in the Inaugural Insurance Innovation Awards that were held virtually.
They included: Minet Limited Excel Insurance Company Legacy Insurance ICEA Life Jubilee Insurance Life Alliance Assurance Jubilee Insurance General Diamond Trust Bank Housing Finance Bank ICEA General Insurance Kenbright Insurance brokers Prudential insurance company Turaco Insurance Company.
The firms competed for various categories of awards which included: Most Innovative Life Insurer Award; Most Innovative Non-life insurer award; Most Innovative Insurance Broker; Most Innovative Bancassurance Agent and Most Innovative Non- Life Insurance Agent.
Kaddunabbi Lubega, the executive director of IRA said the objective of the awards was to provide a platform for knowledge and information dissemination by sharing the best practices, experiences and expertise; foster innovation and creativity in the insurance service value chain and subsequently expand the insurance market boundaries.
"Innovation is many things – but its ultimate goal is to improve our processes to make the life of customers better and business growth. The time is now for the insurance sector to diffuse, adopt and embrace the use of digital platforms to connect easily with different networks, communities aiming at improving service delivery and offering real value to insurance consumers," he said.
Winners
Most Innovative Life Insurer award
Prudential insurance company
Most Innovative Non-life insurer award
ICEA General Insurance
Most Innovative Insurance Broker
Minet Limited
Most Innovative Bancassurance Agent
Housing Finance Bank
Most Innovative Non- Life Insurance Agent
Turaco Insurance Company
