Insurance Regulatory Authority launches Annual Insurance Innovation Awards (AIIA) 2024

This highlights the Regulator’s continued commitment to keeping the industry ahead of emerging trends and technologies

Sande Protazio, Director Strategy and Market Development said that “Innovation is at the heart of how we operate, deliver value, and create opportunities for our clients. It’s simply the key driver for the growth and sustainability of the insurance industry given the changing customer expectations, and evolving business models,” adding that we are excited to announce that applications for the Annual Insurance Innovation Awards (AIIA), season 5, are now open for all licensed participants to submit their proposals for review.

Protazio who represented Alahaji Kaddunabbi, the CEO of insurance regulatory authority said that all insurance companies, insurance brokers, Health Membership Organizations, bancassurance agents, individual agents, and loss assessors are encouraged to participate.

He added that “to acknowledge the contribution of the media and Insurtech in the value chain, we introduced a special category for Media Personality of the Year and InsurTEch of the year in reignition of their impactful work on the insurance industry. We have been able, as a sector, to achieve a lot at the back of the distinguished support of the media and unwavering commitment of Insurtechs.”

Awards aim to recognize innovators who are reshaping the role of insurance in people’s lives and businesses, embracing disruptions and transforming them into opportunities.

Sande Protazio, Director Strategy and Market Development

“Innovation is not just about technology; it is about mindset. It’s about the willingness to challenge the status quo. It’s about taking risks, learning from failure, and relentlessly pushing forward. The journey of the insurance industry, much like in other markets, has recently been shaped by those who dare to think differently, explore new avenues, and embrace change. This is why we have consistently hosted these Annual Innovation Awards.” he stated.

The 2024 Annual Insurance Innovations Awards gala will be held on March 14, 2025 at Serena Hotel Kampala, under the theme “Redefining Insurance: Trust, Innovation and Inclusivity”.

According to Protazio, This theme has been carefully selected to highlight the importance of building and maintaining trust, exploring new solutions or mechanisms to deliver value and daring to reach the unserved and underserved masses.

To ensure maximum transparency, we have engaged a consultant – Adroit Consult International, to undertake this exercise. I encourage all industry participants with innovative solutions implemented in the last 36 months to submit up to two applications per category and compete in the category or categories of their choice. The entries are open up to January 24th, 2025.

The 2024 entries are in the following 10 categories