Insurance Agents: The Unsung Heroes Powering Uganda’s Insurance Sector
By Saul Sseremba
Walk the streets of Kampala, and you are likely to encounter an insurance agent at a taxi stage, near a supermarket, in your office, or even at a place of worship. With a friendly smile and a few engaging words, they spark conversations about insurance, explaining how it can protect your life, business, and future.
In just minutes, they answer your questions, offer expert advice, and represent the face of the insurance industry. For many Ugandans, these agents provide their first exposure to insurance. And with agents making up 60% of the workforce in the insurance sector, their role is far from minor, it is essential.
Uganda’s insurance industry has shown remarkable growth, with the 2024 Insurance Regulatory Authority (IRA) performance report revealing a 12% increase in Gross Written Premiums (GWP), reaching $485 million.
At the 2024 Insurance Agents of the Year Awards, Uganda Insurers Association CEO Jonan Kisakye confirmed that 50% of all insurance business was generated by agents, while the remaining half came through banks and brokers.
In 2014, the industry’s GWP stood at only $135 million. What sparked such a transformation?
The IRA has steadily worked to reform and elevate the industry’s image. Its strategic focus on consumer protection has included ensuring that agents are not only licensed and professional but also equipped with up to date skills to serve clients effectively. The result is a new generation of well informed, highly trained agents who are driving awareness especially in the informal sector, which remains the backbone of employment and income for many Ugandans.
But who exactly is an insurance agent?
An insurance agent is a licensed intermediary who connects customers to insurance companies. Their role includes helping individuals and businesses find suitable policies, explaining coverage, and supporting claims and renewals. The journey to becoming an agent starts with a secondary school qualification and a Certificate of Proficiency in Insurance (COP) from the Insurance Training College (ITC).
Is a career in insurance sales worth it?
Absolutely. Experience brings greater rewards in this industry. Agents, along with brokers and bancassurance channels, earn 15% to 20% of GWP as commission. With GWP at $485 million and insurance penetration at just 0.88%, agents are tapping into a market brimming with untapped potential. The industry has experienced steady annual growth of 10% to 15% over the past decade.
How are agents positioned for success?
Training and Development. Agents benefit from regular training by their respective companies and ITC, focusing on sales skills, personal development, and relationship building. They must also earn Continuous Professional Development (CPD) points annually to renew their licenses ensuring consistent learning and improvement.
Professional Support. Agents are backed by strong institutions such as the Uganda Insurance Agents Association (UIAA), the Insurance Training College, and the Uganda Insurers Association, all of which promote professionalism and standards in the industry.
Trust through Claims Payment. Sound regulation has fostered an environment where genuine claims are paid promptly, giving agents the confidence to sell and enhancing public trust in insurance.
Though they may not wear capes, insurance agents are quietly reshaping the industry building relationships, strengthening trust, and steering the sector toward growth. They are the true unsung heroes of Uganda’s insurance landscape.
By Saul Sseremba , CEO Insurance Training College
