{"id":2000129966,"date":"2026-10-21T14:29:38","date_gmt":"2026-10-21T12:29:38","guid":{"rendered":"https:\/\/new.igihe.com\/english\/?p=2000129966"},"modified":"2026-10-21T17:34:10","modified_gmt":"2026-10-21T15:34:10","slug":"insurance-industry-urged-to-build-trust-through-transparency-literacy","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/insurance-industry-urged-to-build-trust-through-transparency-literacy\/","title":{"rendered":"Insurance industry urged to build trust through transparency, literacy"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Speaking at the International Conference on Inclusive Insurance 2026 in Kigali on Tuesday, October 20, she said the central question is how to deliver the right protection at an affordable price through channels that citizens trust.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She identified three priorities for the industry: putting customers at the centre of product design, strengthening insurance literacy, and building trust through transparent coverage and reliable claims.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cTechnology alone will not close the gap,\u201d she said, adding that products must reflect the risks facing underserved households, smallholder farmers and small businesses, including climate shocks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trusted channels<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Governor said innovation can help lower distribution costs through digital technologies and insurtech, alongside trusted channels such as microfinance institutions and savings and credit cooperatives (SACCOs).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She said Rwanda\u2019s financial inclusion rate of 92% shows the value of policy commitment and private-sector innovation, but that access to finance without risk protection remains incomplete.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Understanding what is covered<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Laura Elena Rosado, Acting Chair of the Board of the Microinsurance Network, said customers need to clearly understand what their insurance covers, particularly when several types of protection are bundled into one product.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cMaking sure that they understand what they are being covered for is very, very important,\u201d she said of customers who have never had insurance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She said bundling many risks into one product can turn a one-page set of terms into a hundred-page document with many exclusions. Bundling can work, she said, when the context is right, and customers understand what they are buying.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Herbert Asiimwe, Head of Financial Sector Development at the Ministry of Finance and Economic Planning, said the government was open to exploring ways to link community-based health insurance with other insurance products, noting that bundling can make cover easier to sell and deliver greater benefits.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Value and evidence<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Andrew Kulayige, Chairperson of the Rwanda Insurers Association (ASSAR), said the industry must now go beyond expanding access and make insurance a better value proposition.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He said cover must be \u201caffordable and reliable for the people and businesses that need protection most.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Renate Bleich, Chair of the Munich Re Foundation, urged delegates to rely on evidence and on the voices of customers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cShare the knowledge and experience of what works in practice and what has not worked,\u201d she said, adding that delegates should use it when designing solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Room to grow<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Private insurance uptake in Rwanda rose from 17% in 2020 to 27% in 2024, according to figures the Governor presented. Under the National Insurance Strategy, the country aims to raise insurance penetration from 1.9% to 5% of GDP by 2035.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The conference runs at the Kigali Convention Centre until October 23 and has drawn about 600 registered participants from 58 countries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The conference aims to identify commercially sustainable approaches to inclusive insurance, improve access to affordable products and strengthen collaboration among governments, insurers, technology providers and development partners.<\/p>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"1072\" data-id=\"2000129898\" src=\"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_19.jpg\" alt=\"Rwanda\u2019s insurers urged to prioritise meaningful protection over penetration\" class=\"wp-image-2000129898\"\/><figcaption class=\"wp-element-caption\">National Bank of Rwanda (BNR) Governor Soraya Munyana Hakuziyaremye was the chief guest at the conference.<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"1000\" data-id=\"2000129907\" src=\"https:\/\/cdn.igihe.com\/en\/2026\/10\/GAG29928.jpg\" alt=\"\" class=\"wp-image-2000129907\"\/><figcaption class=\"wp-element-caption\">The conference has brought together participants from 58 countries to address the challenge of closing the insurance protection gap.<br><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"1000\" data-id=\"2000129908\" src=\"https:\/\/cdn.igihe.com\/en\/2026\/10\/GAG29918.jpg\" alt=\"\" class=\"wp-image-2000129908\"\/><figcaption class=\"wp-element-caption\">The conference brought together policymakers, regulators, insurers, reinsurers, financial institutions, researchers, investors and development partners.<br><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"1071\" data-id=\"2000129970\" src=\"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_7-1.jpg\" alt=\"\" class=\"wp-image-2000129970\"\/><figcaption class=\"wp-element-caption\">The focus on meaningful protection was echoed by Andrew Kulayige, Chairperson of the Rwanda Insurers Association (ASSAR), who argued that the industry needed to make insurance a better value proposition for the people and businesses that needed it most.<br><\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"1072\" data-id=\"2000129905\" src=\"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_2.jpg\" alt=\"\" class=\"wp-image-2000129905\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"1000\" data-id=\"2000129912\" src=\"https:\/\/cdn.igihe.com\/en\/2026\/10\/GAG29502.jpg\" alt=\"\" class=\"wp-image-2000129912\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"1071\" data-id=\"2000129893\" src=\"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_30.jpg\" alt=\"Rwanda\u2019s insurers urged to prioritise meaningful protection over penetration\" class=\"wp-image-2000129893\"\/><\/figure>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insurers, regulators and development partners need to strengthen insurance literacy and make coverage and claims transparent if underserved customers are to trust insurance, the Governor of the National Bank of Rwanda (BNR), Soraya Munyana Hakuziyaremye, has said.<\/p>\n","protected":false},"author":131,"featured_media":2000129968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"archived_slugs":[],"footnotes":"","igh_game_id":0},"categories":[8],"tags":[151,69],"byline":[192],"hashtag":[],"class_list":["post-2000129966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-editors-choice","tag-homehighlights","byline-wycliffe-nyamasege"],"bylines":[{"id":192,"name":"Wycliffe Nyamasege","slug":"wycliffe-nyamasege","description":"","image":{"id":2000122456,"url":"https:\/\/cdn.igihe.com\/en\/2026\/08\/WhatsApp-Image-2026-08-14-at-11.58.47-AM.jpeg","title":"WhatsApp Image 2026-08-14 at 11.58.47 AM","mime_type":"image\/jpeg"},"user_id":131,"twitter_handle":""}],"contributors":[{"id":192,"name":"Wycliffe Nyamasege","slug":"wycliffe-nyamasege","description":"","image":{"id":2000122456,"url":"https:\/\/cdn.igihe.com\/en\/2026\/08\/WhatsApp-Image-2026-08-14-at-11.58.47-AM.jpeg","title":"WhatsApp Image 2026-08-14 at 11.58.47 AM","mime_type":"image\/jpeg"},"user_id":131,"twitter_handle":""}],"featured_image":{"id":2000129968,"url":"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_22neew.jpg","alt":"Insurance industry urged to build trust through transparency, literacy","caption":"","mime_type":"image\/jpeg","width":1500,"height":1071,"sizes":{"thumbnail":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_22neew.jpg","width":1500,"height":1071},"medium":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_22neew.jpg","width":1500,"height":1071},"medium_large":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_22neew.jpg","width":1500,"height":1071},"large":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_22neew.jpg","width":1500,"height":1071},"full":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/10\/ICII2026_22neew.jpg","width":1500,"height":1071}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000129966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=2000129966"}],"version-history":[{"count":1,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000129966\/revisions"}],"predecessor-version":[{"id":2000129971,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000129966\/revisions\/2000129971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000129968"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=2000129966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=2000129966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=2000129966"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=2000129966"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=2000129966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}