By Ismail Musa Ladu
Kampala — To deepen the slow growth of insurance uptake, industry players must begin to think outside the box, including using mobile phones to penetrate new markets, the Insurance Regulatory Authority (IRA) has said.
Speaking last week at a dinner organised by Liberty Life Assurance, Mr Protazio Sande, the IRA assistant director market research and development, said the use of mobile phones to expand insurance uptake, should be considered, especially at a time when phone technology has been changing a number of business models.
He said this would help industry players reach the hard-to-reach informal sector.
"... only two out of 100 Ugandans have formal insurance," he said, which translates to only about 0.68 per cent of Uganda's more than 34 million people.
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