Insurance firms optimistic about sustained growth of sector
Insurance operators are optimistic about the steady growth of the country’s insurance sector despite the low penetration.
The Chief executive officer for Jubilee Insurance, Mr Kumar Sumit, says the insurance industry has slowly gained sustained growth in the past three years due to the role being played by the Insurance Regulatory Authority.
He says currently, several people are taking up insurance policies and is optimistic that with time, the insurance penetration is bound to increase.
“It is not easy but teamwork makes the dream work. I believe that if we remain consistent and work hard, we can hit this year’s targets,” Mr Kumar said.
Kumar, while recognizing the works of the Insurance Agents in Kampala, asked the insurance agents to ensure that they drive insurance to the lowest person to increase the penetration.
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