UAP Old Mutual Life Assurance and DTB Conclude The Kwata Vibe Promo
UAP Old Mutual Life Assurance in conjunction with Diamond Trust Bank have concluded the sales promo dubbed KWATA VIBE with a reward ceremony to recognize the winners. The promo that was kickstarted last year was intended to encourage and motivate bancassurance staff as they sold insurance to the bankable population within DTB reach.
The reward ceremony took place at Diamond Trust Bank Head office on Kampala Road was officiated by Mr. Benson Okot Head of Retail Banking at DTB and Mr. Patrick Kimathi the Managing Director UAP Old Mutual Life Assurance Uganda Limited.
The promo which was launched in July 2022, was meant to grow DTB Life insurance policy sales in a period of 6 months, with a purpose of creating more awareness about Life Insurance and UAP Old Mutual’s value proposition. Having run in 10 DTB branches across the country, the criteria for winning in the promo included:
- Annualized premium achieved.
- Number of policies sold.
- Subsequent premiums for all new policies.
The day’s winners were Lillian Ddungu from DTB – Nansana branch who walked away with a Sofa set, Norah Acham from Kampala Road branch who won a Hisense Washing machine and dryer.
Mr. Patrick Kimathi, the Managing Director of UAP Old Mutual Life Assurance, in his address thanked the DTB Bancassurance team for embracing the promo and participating for the benefit of the bank and UAP Old Mutual. He highlighted that UAP Old Mutual’s value preposition to the clientele of DTB is to have and maintain a fruitful relationship for purposes of safeguarding and growing their generational wealth.
The Head of Distribution and Marketing, Stephen Lubowa, noted that the bancassurance has been pivotal in pushing insurance uptake since its inception in The Financial Institutions Amendment Act, 2016. He thanked the team for their contribution towards UAP’s Gross underwritten premium, which has improved over the years.
UAP Old Mutual Life Assurance Uganda Limited is in position 2 in Life Insurance with 19% market share holding Ugx.53 Billion of Uganda’s total Life Insurance gross underwritten premium of Ugx.276 billion.
