Liberty Uganda sticks 3 feathers in the cap at insurance innovation awards

March 15, 2023 in Business, Companies by Editor

An online portal that allows clients to file claims from the convenience of their devices and a digital tool that eases subscription to insurance services, impressed judges enough to take life and general insurance underwriter Liberty Uganda, to the top of this year’s edition of the Uganda Insurance Innovation Awards.

The company walked away with three accolades in the awards that were announced during a gala dinner at the Kampala Serena March 10. The underwriter scooped two accolades in the most innovative insurance solution category. The Online Portal for Claims Reimbursements which enables qualifying clients to file claims for reimbursements in the event that they have used their money to access medical treatments outside the contracted health service providers, earned Liberty Life double recognition – Most Innovative Insurance Solution award, and the Special Judge’s Award.

Meanwhile Liberty General Insurance Uganda also scooped a Most Innovative Insurance Solution for its Liberty & Jumia Gadget and Electronic Insurance Product, a platform that enables prospective clients to sign up to insurance products and pay their premiums from their digital wallets without a physical interface with the company’s agents. The innovation is seen as transformative in terms of driving up insurance uptake in Uganda by targeting an increasingly tech-savvy population across all social strata.

Now in their third year, awards are organized by the Insurance Regulatory Authority of Uganda (IRA).

Liberty Life’s Chief Executive and Principal Officer, Mohammad Danish Eqbal described the evening’s events as a “super proud moment” for the company whose “innovation-driven business and operations are one of the core values.”

Peter Makhanu, the Managing Director Liberty General Insurance Uganda, attributed the victories to their “creative and innovative collaborations,” that aim to “benefit our customers and clients and the public at large”.

IRA chief executive Alhaj Kaddunabbi Ibrahim Lubega said growth of the industry and individual success of players was premised on the extent to which innovations respond to challenges.

“We are passionate about innovation because we know we shall get solutions to the underlying problems through it. Success depends on innovations. If you don’t innovate and want to cling to the old way of thinking, you live in your world,” Kaddunabbi observed.

“I want to thank all the insurance companies that participated in this competition and offer my heartiest congratulations to the winners and also encourage those that have not won- not to lose hope; this is an annual event, and hopefully, if you put your creative brains together in your respective companies, you may be next year’s winner,” he added.