The Managing Director, DTB Bank, Mr. Thambi Varghese, highlighted the contribution of @dtb_uganda to the insurance sector saying “It’s very substantial, with over 10% of the total bancassurance contribution in 2022” He went on, “This is the most innovative agent and most innovative General insurance Co. coming together to multiply the contribution of bancassurance to the Insurance sector.” He encouraged the masses to make use of this opportunity saying “This is a great opportunity to protect your assets”.
Diamond Trust Bank and UAP Old Mutual Insurance Uganda have entered a partnership to deliver general and medical insurance products and services to customers.
The Partnership makes DTB a one-stop centre for both banking and insurance services in the two partner companies’ quest to drive insurance deepening and inclusion.
The partnership presents insurance services that provide extensive coverage to safeguard customers’ personal, business, and corporate interests.
Some of the products and services to be promoted and offered through DTB Uganda Outlets include Motor Comprehensive Insurance, Medical Insurance, Travel Insurance, and Domestic Packages for homes among others.
The products will be tailored to customer-centric needs hence the variation of premiums based on coverage.
Speaking at the signing ceremony of the Partnership Agreement in Kampala on March 11, DTB’s Managing Director, Varghese Thambi said the collaboration marks a milestone in DTB’s commitment to addressing the evolving needs of its clientele and improving their financial well-being.
“Our decision to enter this partnership comes from our dedication to addressing the evolving needs of our customers. UAP Old Mutual’s products align with Diamond Trust Bank’s commitment to offering a holistic financial portfolio to customers,” said Varghese.
Caroline Owomuhangi, the Marketing and Communications Specialist at UAP Old Mutual Insurnace mentioned that this collaboration represents a shared commitment to delivering value and convenience to customers.
“As an integrated financial solutions organization with asset management, life assurance, medical, and general insurance, we are committed to becoming our customers’ first choice to sustain, grow, and protect their prosperity by offering solutions that meet their needs throughout their lifetime. This partnership represents a significant milestone for us and is strategically aligned with that commitment” said Owomuhangi.
Both regional giants’ leaders urged Ugandans to embrace insurance products and services.
Insurance has been proven as the cornerstone for business and economic stability as it overs and saves clientele risks of losing investments.
General Insurance products to be sold under their partnership come with innovative coverage options, customer-centric policy terms, and streamlined claims processes to enhance the overall customer experience.
The bancassurance partnership between DTB and UAP Old Mutual Insurnace is instrumental in offering customers the convenience of accessing both services seamlessly.