Barclays Gets Bancassurance License

In efforts to improve and expand the insurance services in the country that are still minimal, the Insurance Regulatory Authority has today licensed  Barclays bank as an agent for Bancassurance to serve the population with its innovations.

The Chief Executive Officer insurance Regulatory Authority Kadunabbi Lubega says this is the second bancassurance agent licence issued to ensure that there are more distribution channels of the insurance products that are untapped.

He indicates that they are still nurturing the Bancasurance in the country however,they are sure that it will help to bridge the growing demand for simple insurance products as a result of emerging markets.

Meanwhile the country manager Barclays bank Lakesh Jar indicates that this initiative has been long overdue, adding that they are to start off with Education, health and traveling insurance packages.

Lakesh indicates that as the bank celebrates 90 years of existence in Uganda this is a milestone to them as they try to enable their customers access variety from one centre point.

He goes ahead to explain that they are to work hand in hand with different insurance companies to serve their customers with the products they demand from insurance like it has been in other countries they have branches that embraced bancassuarance before.

This at the Insurance Regulatory Authority offices at Kyadondo road.