Guest of Honor: Alhajj Kaddunabbi Lubega (IRA CEO)

In his address on “Regulatory Evolution for Market Transformation,” Alhajj Kaddunabbi Ibrahim Lubega, CEO of the Insurance Regulatory Authority, outlined a progressive vision to position Uganda as a leader in Insurtech and inclusive insurance. He called for a shift from rigid compliance to dynamic regulatory facilitation, with a focus on innovation through regulatory sandboxes that enable controlled testing of emerging technologies like blockchain and AI. His strategy emphasized three priorities: adaptive rulemaking to keep regulations current, a digital transformation mandate to build infrastructure and talent for Insurtech growth, and the mainstreaming of microinsurance to enhance financial inclusion. This vision is anchored on three pillars Innovation Architecture (including fast-track licensing and cross-border frameworks), the Inclusion Imperative (simplified microinsurance approval and financial literacy), and Digital Foundations (open standards, shared KYC systems, and RegTech adoption) all aimed at building a resilient, inclusive, and future-ready insurance sector in Uganda.

In his keynote speech, Mr. Mumba Kalifungwa highlighted the urgent need for systemic reinvention in Uganda’s insurance sector amid a landscape shaped by four disruptive megatrends: pandemic aftershocks, climate change, AI disruption, and rising cyber threats. He argued that the traditional “business-as-usual” approach is obsolete, advocating for anticipatory governance, real-time analytics, and adaptive risk mitigation strategies. The pandemic, he noted, should serve as a turning point, pushing the sector toward digital-first operations and inclusive products for vulnerable segments like gig workers. On climate change, he emphasized the need for environmentally aligned underwriting and regulatory pressure to adopt Net-Zero frameworks. While recognizing AI’s benefits, he warned of its ethical risks, calling for explainable AI and governance safeguards. Cybersecurity, he stressed, must become a core competency with robust data governance. He further urged regulators to adopt foresight-driven policymaking and insurers to prioritize access, trust, and inclusive distribution. Concluding, Mr. Kalifungwa issued a call to transform the sector into one that not only manages risk but also actively reduces societal vulnerability.

Ms. Betty Mwagale emphasized that the future of the insurance industry hinges not just on technology and regulation but fundamentally on people how they are led, empowered, and supported. She highlighted generational diversity as a strategic asset, advocating for intergenerational collaboration that merges digital fluency from younger staff with the experience of older generations. She stressed the urgency of continuous upskilling and reskilling in response to technological disruption, while underscoring mental wellness as central to employee productivity and retention. Mentorship was presented as a key driver of knowledge transfer and leadership development. Looking ahead, Ms. Mwagale called for ESG-integrated HR strategies that promote ethical leadership, inclusivity, and sustainability, while preparing talent to collaborate with AI rather than compete with it. Her message was clear: human capital must be placed at the core of insurance sector transformation to build resilient, future-ready organizations.

Ms. Magala Miriam delivered a powerful message calling for a reinvention of leadership within the insurance sector. She argued that traditional authority-based models are outdated and must be replaced by value-driven, servant leadership that emphasizes purpose, empathy, and authentic communication. Central to her message was the need to redefine leadership as a tool for inspiring trust and meaning, not just driving results. She proposed that trust built through autonomy, psychological safety, and ethical alignment has become the new currency of leadership. Drawing on Simon Sinek’s “Start with Why,” she urged leaders to articulate purpose beyond profits and empower teams through decentralized innovation. While acknowledging the role of technology, she emphasized that human connection remains vital, especially in emotionally sensitive client interactions. Miriam advocated for servant leadership practices such as reverse mentoring and inclusive decision-making and proposed a new competency framework grounded in emotional intelligence, ethical governance, and collaborative leadership. Her closing call was clear: in the digital age, sustainable transformation will come from leaders who balance competence with compassion.

PANEL DISCUSSION; RE-IMAGINING INSURANCE IN THE NEW WORLD.

Moderated by Mr. Emmanual Mwaka (CEO, ICEA Lion), the panel comprising Ms. Mendies Mhiribidi, Mrs. Francesca N. Kakooza, Dr. Donato Laboke, and Dr. Tom Buringuriza explored the theme of “re-imagining insurance” in Uganda’s rapidly evolving context. Panelists emphasized the need for a dynamic regulatory environment that fosters innovation while safeguarding consumer interests. They advocated for leveraging Insurtech, ESG-aligned policies, and inclusive microinsurance to build a resilient, future-ready insurance ecosystem. Central to the discussion was the call to shift from transactional sales to relationship-driven customer engagement, using AI, embedded insurance, and storytelling to deliver personalized value. The panel also challenged the sector to rethink its role positioning insurance as a tool for economic resilience, especially in the face of pandemics, cyber threats, and the informal economy. Public-private partnerships and socially conscious actuarial practices were highlighted as essential for mainstreaming insurance into Uganda’s socio-economic fabric. Collectively, the panel concluded that transforming insurance requires innovation, inclusivity, and collaborative action across all industry stakeholders.

RECOMMENDATIONS

The conference concluded with strategic recommendations emphasizing innovation, collaboration, and inclusion as the foundation for Uganda’s evolving insurance sector.

For brokers, the key directive was to evolve into client-centered advisors who offer tailored risk solutions and build lasting trust. Adoption of digital tools (CRM systems, chatbots, mobile apps) and an omnichannel approach was urged to enhance customer engagement. Brokers were also encouraged to foster partnerships with regulators, academia, and tech firms, integrate ESG principles into their operations, and build resilient teams through staff development and well-being. Collaborating with institutions like the Insurance Training College to align education with industry needs was also highlighted.

For policymakers, the focus was on fast-tracking regulatory reforms to support technologies like AI, mobile insurance, and blockchain, while remaining agile in addressing risks related to cybersecurity and digital finance. Consumer protection and innovation must be balanced through adaptive regulation, including tools like regulatory sandboxes. Additional incentives were recommended for insurers promoting inclusive, transparent products. Lastly, regional cooperation was deemed vital for tackling cross-border risks, with a call for harmonized regulations and shared infrastructure across East Africa.

FINAL REFLECTIONS AND CALL TO ACTION

The conference concluded with a powerful call for systemic transformation across Uganda’s insurance sector. Stakeholders were urged to view the present moment as a critical opportunity to lead, not follow, amidst global shifts like technological disruption, climate risk, and changing consumer demands. The transformation must be anchored in three core principles: innovation, to create tech-enabled, client-centered solutions; resilience, to build systems that endure shocks; and inclusion, to ensure products serve all, especially marginalized communities.

Strategic action is needed across several fronts: uniting stakeholders under a shared vision; applying behavioral insights to improve product relevance and trust; institutionalizing leadership and talent development; and shifting from reactive to proactive risk management. Ultimately, the sector must evolve to not only respond to change but to drive it.

FINAL MESSAGE:
"Co-create a resilient, inclusive, and future-ready insurance ecosystem."