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All Set for ITC Third Annual International Insurance Conference

ITC officials addressing reporters in Bukoto. Courtesy Photo

Insurance industry players are counting down to the start of the Third Annual International Insurance Conference scheduled for next week at the Imperial Resort Beach Hotel Entebbe. The two-day conference will run from October 27 through October 28, according to the Insurance Training College (ITC), the event’s main organizers.

On Friday, October 21, ITC Principal and CEO Saul Sseremba told journalists at the college’s office that the conference is expected to draw 200 delegates from Uganda and the East African region as well as several other players in the country’s insurance industry. State Minister Finance Planning and Economic Development and Rubanda East MP Henry Musasiszi will preside over the two-day conference while Patty Karuaihe Martin, the Managing Director of the Namibia National Reinsurance Corporation Ltd (NamibRe) and Chairperson of the Organization of Eastern and Southern African Insurers, will deliver the keynote address. Main discussants will include Insurance Regulatory Authority of Uganda (IRA) Chief Executive Officer (CEO) Al-Hajji Kaddunabi Lubega whose institution regulates the insurance industry in the country.

The conference has been supported by Al-Hajji Kaddunabi Lubega’s IRA while its Platinum Sponsors include: AfricaRe, and W-Safe Re-Insurance Company. Its Gold Sponsors are Sanlam and Uganda Insurers Association (UIA); while Silver Sponsors are Uganda Re-Insurance Company (Uganda-Re), Kenya-Re, Jubilee Life Insurance and ZEP-RE (PTA Reinsurance Company). Bronze Sponsors include: Sky Re-Insurance Brokers Ltd, wtw, SWICO, Padre Pio Insurance Brokers, Insurance Brokers Association of Uganda (Ibau), ICEA LION Uganda, Gold Star Insurance, Agro Consortium and Allianz, among others.

The conference will be held under the theme: ‘Racing strategy for the disrupted insurance market.’ ITC Principal and CEO Sseremba explained why the Insurance Training College and its partners had organized the event and what they intend to achieve.

“The worldwide insurance sector has recently been affected by economic changes caused by the Covid19 pandemic, the ever-changing client, digital transformations and competition from other financial institutions,” said Sseremba. “The third ITC International Insurance Conference intends to bring together international specialists from academia, government, the insurance business, and civil society to discuss concerns and chart the course for the insurance sector’s future growth. It will also allow practitioners and stakeholders to assess concepts and discuss recent trends in the insurance sector in light of current developments like the great resignation, the gig economy and much more.”

CEO and Principal Sseremba further assured those who will participate that expert panel discussions will hold valuable debates to provide a forum for practitioners and experts to deliberate and strategize new ways of developing and delivering services or products that will meet the needs of future and dynamic customers. He added: “We anticipate the competently guided panels will provide delegates with a wealth of knowledge. We have invited leaders to guide and drive the discussions.” These experts include: NITA Uganda Director of E-government Collins Babirukamu; EcoBank Managing Director Grace Muliisa and SteadMan Global Consultancy Chief Executive officer Racheal Dumba.

The topic for Day One will be ‘Focus on the Oil and Gas Sector,’ with main speakers including Ernest Rubondo, the Executive Director of the Petroleum Authority of Uganda (PAU). AfricaRe Resident Underwriter Daniel Tumuhaise noted that being the hosts and managers of the Africa’s oil reinsurance pool and having the best experience and expertise in the oil and gas sector, their contribution as well as that of other experts will make the discussion on the oil and gas exciting and enriching to the participants. Tumuhaise went on to explain that AfricaRe’s main aim was to boost the growth of the insurance and re-insurance industry on the continent. He praised ITC for organizing the event, further lauding the college for its effort in promoting the growth of the industry in the country.

UIA Public Relations Officer Ibrahim Kalule Gava said that his organization was excited about next week’s conference, saying it will help industry players discuss ways of dealing with a volatile insurance market as well as devising means of different stakeholders working together to ensure growth.

Ruth Namuli, the Sanlam General Insurance CEO, emphasized the importance of promoting professionalism and undertaking other measures to meet customers’ needs and expectations in a fast changing world.

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