Rwanda: Competition goes high, as new entrants (UAP) Join insurance market

{As the government of Rwanda calls upon people to get insured, new business entrants like UAP insurance company are launching new ways and programs of insurance.
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UAP was founded in Kenya and since 2012 it has been working in the country.

Currently, UAP launched a system whereby injuries suffered by the insured from their company are to be covered in a period not less than 5days.

Analysts say this company comes as every strong competitor comparing to the existing insurance companies within Rwanda.

According to Nibishaka Annie, who is in charge of sales and marketing at UAP insurance company, the company has brought new programs which will support them in securing a big number of clients.

.Nibishaka said that,” we have brought new ways of covering losses to the insured, and one of them is payment of property worth 1000,000 in less than 24hours and other losses above 1000,000 Rwf to be paid not later than 5days.”

As it’s said, UAP is an insurance company which operates in Uganda, Kenya and South Sudan where it launched its operations recently.

UAP resumes its operations in the country at a period the government of Rwanda is sensitizing foreigners to invest in the country.

Nsanzabaganwa Monique, the vice president of the Rwanda National Bank says, “Rwanda as a country characterized with maximum security, is doing the best to make it easier for foreign investors to invest in Rwanda”.
She also added that Rwandans should be informed about the good of being insured with insurance companies, because it’s the only way to recover the losses suffered.

UAP plans to open a funding project that will be supporting the govt development programs of sensitizing the people in practicing technological innovations and use of insurance.

Another main issue to be awaited at the UAP insurance company includes the best customer service to support the smooth development of business in the country.

According to the sources on the ground, People insured with UAP can be provided with medical services in East Africa, South Africa and India.