Ugandan Insurance Brokers to Host Annual Conference

The upcoming conference theme, "Trust Re-imagined," directly confronts a significant hurdle in Uganda's insurance sector: a persistent lack of public confidence. This issue has been a key barrier to increasing the country's low insurance penetration rate, which remains below 1% of GDP, lagging behind regional peers like Kenya. The focus on trust signals a strategic shift within the industry to address this foundational challenge head-on. IBAU Chairman Paul Muhame has previously emphasized the critical role of technology and innovation in making the insurance sector more competitive and relevant. At the 7th annual conference in 2025, discussions centered on embracing digital transformation, with the Insurance Regulatory Authority (IRA) CEO, Alhaj Kaddunabbi Ibrahim Lubega, stating that digitization is "not optional, it's essential" for elevating the client experience through streamlined claims and more transparent service. In the lead-up to the 2026 conference, the Insurance Brokers Association of Uganda has already launched initiatives aimed at bolstering professionalism and, by extension, trust. A notable step is a partnership with the Insurance Training College (ITC) to establish a Chartered Insurance Broking Program, with the first classes beginning in February 2026. This program is designed to create a globally benchmarked standard of practice for brokers in Uganda and across East Africa. The theme of rebuilding trust is further supported by recent regulatory actions and industry collaborations. The Insurance Regulatory Authority of Uganda (IRA) has been actively promoting innovation through initiatives like the Insurance Innovation Awards and a regulatory sandbox to test new solutions. These efforts encourage the development of more accessible and inclusive insurance products, a key factor in building a more trustworthy public image for the sector. The a a forthcoming National Health Insurance Act, which is anticipated to be in place after the 2026 election, is also expected to significantly impact the insurance landscape. The 2026 conference is expected to build on the conversations from the previous year, which explored transformative global trends under the theme "A Whole New World." That event, which drew over 300 delegates from the insurance and financial sectors, emphasized the need for Insurtech innovations, strategic partnerships, and modern distribution models to reshape how insurance is delivered and understood in Uganda. The push to rebuild trust comes as the Ugandan insurance market shows signs of growth, with broker-driven premiums increasing from UGX 1.4 trillion in the third quarter of 2024 to UGX 1.6 trillion in the same period of 2025. Industry leaders like Jubilee Insurance are also publicly committing to operational efficiency and digital transformation to improve customer experience and claims processing, reflecting the sector-wide move towards greater accountability and reliability.