SWICO and IBAU unite to reshape Uganda insurance
Uganda’s insurance sector gathered on Thursday to confront its historically poor market penetration through a strategic shift toward partnership. The Insurance Brokers Association of Uganda and Statewide Insurance Company held a breakfast meeting at Fairway Hotel, where executives examined whether collaboration could replace competitive individualism. Professor Samuel Sejjaaka from MAT ABACUS Business School told attendees that genuine partnerships remain rare despite frequent discussion. He said the sector must abandon short-term tactics and build alliances that reach uninsured Ugandans.
Statewide chief executive Hamza Mutebi announced operational changes to support brokers, including faster claims processing and dedicated relationship managers. The company promised transparent procedures and technology-driven products to foster mutual growth. Bernard Obel from the Insurance Regulatory Authority praised the broker-insurer partnership as evidence of industry maturation. He encouraged continued development of accessible coverage options.
Statewide launched dog insurance, becoming Uganda’s first policy to cover pets and working animals. The product protects owners against veterinary expenses and liability claims. Obel called the launch a meaningful step toward diverse insurance solutions. Insurance Brokers Association chairman Paul Muhame said unified industry action produces better outcomes for customers.
