Jubilee Life Insurance eyes positive growth in Uganda through agents  

Jubilee Life Insurance Company Uganda expects a significant expansion in the insurance market in Uganda, relying on its agents to effectively promote and sell its policies.

On Friday last week, at the Sheraton Hotel, Kumar Sumit Gaurav, the Chief Executive Officer of the insurer, presided over a rewarding event honoring agents who excelled in selling policies last year. The awardees received prizes, with some fortunate individuals winning fully paid trips to South Africa or Dubai.

Some of the winners in the Diamond category included Shiva Josephine, who sold 70 life policies and one pension plan, totaling Shs591 million. Doreen Kalungi sold 71 life policies and two pension plans, raising Shs330 million. Juliet Nakkazi sold 73 life policies and two pension plans, bringing in Shs333 million. Asiimwe Talent sold 2 pension plans and life policies, collecting Shs400 million.

Dorcus Kuhimbisa, the company’s chief operating officer, noted that most of the awardees were females because they exhibit patience while dealing with clients in the field. “They (female agents) are more persuasive than males,” she said. She added, “But we are happy with the work being delivered by all our agents regardless of their gender. We hope to build on their expertise to reach more customers and offer the much-needed insurance services in the market.”

The CEO highlighted that by celebrating the work done by the agents, they attract new customers. “We aim to show them that what they do is important. We value them because they are closer to our customers and help them to be compliant. Around 80% of our business is retail, which is why we highly value the input of our agents,” he said.

Kumar added that Uganda’s insurance penetration remains below 1%, indicating an opportunity for innovation and the development of new products as the market grows.