{"id":46571,"date":"2022-09-07T08:08:07","date_gmt":"2022-09-07T08:08:07","guid":{"rendered":"https:\/\/new.igihe.com\/central-bank-governor-rwangombwa-urges-insurance-brokers-to-embrace-technology\/"},"modified":"2022-09-07T08:12:12","modified_gmt":"2022-09-07T08:12:12","slug":"central-bank-governor-rwangombwa-urges-insurance-brokers-to-embrace-technology","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/central-bank-governor-rwangombwa-urges-insurance-brokers-to-embrace-technology\/","title":{"rendered":"Central Bank Governor, Rwangombwa urges insurance brokers to embrace technology"},"content":{"rendered":"

The message was delivered during a two-day meeting bringing together members of Rwanda Insurance Brokers Association and brokers from East Africa where participants pointed out a huge gap regarding efforts meant to encourage citizens to work with insurance companies. <\/p>\n

Insurance brokers are defined as persons or companies providing advisory services on matters of insurance and arrange insurance cover with an insurer on behalf of a client. <\/p>\n

The meeting held recently on 1st and 2nd September 2022, also discussed the future of insurance services in Rwanda, existing gap in the sector and needed measures to enhance Rwandans\u2019 participation. <\/p>\n

The Chairperson of Rwanda Brokers Association, Mubiligi K. Jean Pierre said that insurance brokers are much needed given the fact that some of the insured do not understand insurance in general. <\/p>\n

It has been also noticed that most of the insured do not read contracts of the new insurance as well as the existing ones. This is one of the main causes of misunderstanding between the insurer and the insured.<\/p>\n

\u201cOne of the responsibilities of the broker is to represent the client\u2019s interest, we therefore understand and have to explain to the client the nature of the insurance cover they need which also helps us as brokers to have the same understanding with the insurer. The service of a broker continues even during the incident and the service do not require any extra cost from the insured,” noted Mubiligi . <\/p>\n

He further disclosed that the association plans to introduce a digital platform linking clients to insurance companies to fast track services and give real time updates to concerned parties. <\/p>\n

As he officiated the opening of the meeting; the Central Bank Governor, Rwangombwa requested insurance brokers to tap into available opportunities and take advantage of the latest technology to revolutionize services. <\/p>\n

\u201cYou need to adjust to the latest technology. Taking advantage of mobile phones to expand insurance services to all Rwandans might be among possible avenues to meet the goal,\u201d he noted. <\/p>\n

Taking into account the adverse effects of COVID-19, Rwangombwa assured them of support and collaboration to take the insurance brokerage to greater heights.<\/p>\n

\u201cCOVID-19 has affected trade but the government instituted strong economic recovery measures to facilitate trade. We remain committed to continue providing support to the insurance sector but you also need to work hard for your businesses to thrive,\u201d he said. <\/p>\n

One of participants of the meeting, Regina Brigitte Uwamahoro underscored that mindsets and low sensitization efforts are among issues facing the sector. <\/p>\n

She urged brokers to identify the needs of clients and facilitate smooth collaboration with insurance companies. <\/p>\n

\u201cInsurance services have not yet reached a desired extent because some people are still reluctant claiming that they are expensive. Besides, others are not aware of insurance packages. This is where the intervention of insurance brokers is highly needed because they easily get in touch with clients and represent them. We have observed that serving clients brought by brokers leads to a win-win cooperation,\u201d affirmed Uwamahoro. <\/p>\n

Adeline Umuhoza, another participant highlighted that sensitization is key to attract people\u2019s attention to insurance services. <\/p>\n

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{The Governor of the National Bank of Rwanda (BNR), John Rwangombwa has requested insurance brokers to adopt technology in daily operations so that a large number Rwandans can access insurance services.} <\/p>\n","protected":false},"author":62,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-46571","post","type-post","status-publish","format-standard","hentry","category-news","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/46571","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\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=46571"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/46571\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=46571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=46571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=46571"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=46571"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=46571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}