Uganda insurance products need to be designed around the realities people face every day if the industry is to reach more households, according to Arthur Kintu, Head of Bancassurance at dfcu Bank.
Kintu has argued that insurers and financial institutions must move beyond simply putting existing policies on the market and expecting customers to adapt to them. Instead, providers need to understand what Ugandans actually worry about — from medical emergencies and loss of income to education, property and business risks — and develop products that offer practical protection.
The message comes as Uganda continues efforts to increase insurance adoption, with banks increasingly becoming an important distribution channel.
Bancassurance, which allows banks to distribute insurance products on behalf of insurers, has grown rapidly since being introduced in Uganda. Industry data cited by dfcu showed that bancassurance premiums increased by 25.4% in 2024, from UGX 179 billion in 2023 to UGX 225 billion. The channel accounted for about 12.8% of Uganda’s insurance market that year.
Uganda insurance products must solve real problems
For Kintu, increasing insurance uptake begins with relevance.
A family worried about hospital bills has different priorities from a small business owner protecting equipment, while a parent saving for a child’s education may need another kind of protection entirely.
That makes a one-size-fits-all approach difficult.
dfcu’s bancassurance strategy has increasingly focused on matching insurance products with different stages of customers’ lives and financial circumstances.
The bank’s individual life insurance portfolio, for example, has focused on three main areas: savings, investment and life protection.
dfcu also distributes general insurance products covering areas including motor vehicles, fire and burglary, property, medical needs and other risks.
The wider idea is straightforward: customers are more likely to see value in insurance when it protects something they genuinely care about.
Affordability remains a major challenge
Price is another important part of the conversation.
Even when people understand the benefits of insurance, premiums can compete with immediate household expenses such as food, rent, school fees and transport.
That means Uganda insurance products have to balance meaningful coverage with premiums customers can realistically manage.
The challenge is particularly visible in healthcare.
When dfcu and Jubilee Health Insurance launched the BlueCare medical insurance product in December 2025, they cited research indicating that a very large majority of Ugandans did not have medical insurance.
The product was designed around several levels of coverage so customers could select options according to their needs and financial ability.
BlueCare currently offers four plan tiers and includes benefits such as hospital support, critical illness protection, telemedicine and funeral-related assistance.
The approach illustrates the broader point Kintu has been making: insurance becomes more attractive when customers can see how it fits into their actual lives.
Medical emergencies expose Uganda’s insurance gap
Healthcare provides one of the clearest examples of why financial protection matters.
For households without adequate insurance, an unexpected illness can quickly become both a medical and financial emergency.
Families may have to use savings, borrow money or sell assets to meet hospital costs.
Kintu has previously highlighted this healthcare protection gap while discussing dfcu BlueCare, describing medical insurance as an increasingly important part of financial planning for Ugandan households.
That perspective shifts insurance away from being viewed simply as another monthly expense.
Instead, it becomes a way of preparing for a financial shock that would otherwise have to be paid for entirely from household income or savings.
dfcu sees bancassurance as a route to more Ugandans
Banks have one important advantage when it comes to expanding insurance: they already have relationships with millions of customers.
People regularly interact with banks to save, borrow, make payments and receive salaries.
Adding insurance to those relationships can make policies easier to understand and access.
dfcu says its bancassurance operation works with insurance partners while using the bank’s distribution network to connect customers with suitable policies.
Kintu has previously said the bank’s branch network gives customers physical places where they can ask questions and sign up for insurance products rather than having to navigate the insurance market alone.
That human interaction can be particularly important in a market where some customers may still be unfamiliar with how insurance works.
Uganda insurance products need to be easier to understand
Cost is not the only barrier to insurance adoption.
Complex language can also discourage customers.
Insurance contracts often contain terms that may be familiar within the industry but confusing to someone buying a policy for the first time.
Products therefore need to explain clearly what is covered, what is excluded, how much a customer pays and what happens when a claim is made.
This is especially important for people entering formal insurance for the first time.
A product may be affordable, but customers are unlikely to buy it if they do not understand the benefit.
Building trust therefore requires insurers and banks to make products simple enough for ordinary customers to evaluate confidently.
Insurance should fit different income groups
Uganda’s economy includes salaried employees, farmers, traders, small-business owners, students and millions of people working in the informal sector.
Their incomes and financial risks can be very different.
That creates a strong case for flexible Uganda insurance products rather than packages designed around only one type of customer.
dfcu’s Dembe Bundled Account provides one example of an approach that combines banking with embedded insurance for mass-market customers, students and people in the informal sector.
Its insurance benefits include life protection, permanent disability cover, critical illness benefits, hospital cash support and funeral assistance.
Embedding protection into familiar financial products can introduce customers to insurance without requiring them to purchase a completely separate policy.
dfcu is expanding its insurance portfolio
The bank has been gradually widening the range of insurance products available through its channels.
dfcu’s annual reporting shows that individual life insurance remained its dominant bancassurance product while the bank also identified expansion of its general insurance portfolio as a priority.
Its broader product development strategy has also placed greater emphasis on customer research.
dfcu said it has used focus groups, market research and customer behaviour analysis when assessing and developing financial products.
The bank has also reviewed existing products to determine whether they remain relevant and competitive, improving some while withdrawing others that no longer met its objectives.
That same approach is particularly important in insurance because household needs can change quickly.
Businesses also need protection designed around their risks
Customer-focused insurance is not limited to individuals.
Ugandan businesses face their own risks, including damage to property, accidents, equipment losses and interruptions to operations.
In September 2026, for example, dfcu said it was combining asset financing with insurance and risk-management tools for businesses operating in Uganda’s mining sector.
Sector-specific approaches like this can make insurance more relevant because the protection is connected directly to the assets and risks involved in running the business.
A farmer, miner, retailer and transport operator do not necessarily need identical insurance.
Designing policies around those differences could help insurers demonstrate their practical value.
Trust remains essential for insurance growth
Uganda’s insurance industry can develop innovative policies, but customers also need confidence that providers will honour legitimate claims.
That makes trust one of the industry’s most important assets.
Customers need clear information when purchasing a policy and straightforward processes when seeking compensation.
Banks involved in bancassurance also have a responsibility to ensure customers understand that the insurance policies they distribute are provided in partnership with licensed insurers.
A positive claim experience can strengthen confidence in insurance.
A confusing or frustrating experience can do the opposite, particularly for someone using insurance for the first time.
Digital channels could make Uganda insurance products more accessible
Technology also offers opportunities to make insurance easier to buy and manage.
Mobile banking and digital platforms already allow Ugandans to carry out many financial transactions without visiting a branch.
Insurance can increasingly become part of the same digital experience.
Customers could potentially receive information about suitable products, pay premiums and manage aspects of their cover through familiar banking channels.
dfcu has identified continued digital innovation and the expansion of its insurance portfolio among its priorities as it seeks to deepen customer relationships.
Digital distribution could be particularly valuable for reaching younger customers and people who live far from traditional financial-service locations.
Customer needs could determine the next phase of insurance growth
Uganda’s bancassurance market has already demonstrated that customers are willing to buy insurance through channels they know and trust.
The bigger challenge is turning that growth into wider insurance participation across the country.
That will require more than simply offering additional policies.
Products must address risks people recognise, premiums must be manageable, terms must be understandable and claims must be handled fairly.
Kintu’s argument that Uganda insurance products should be built around people’s needs therefore goes to the heart of the industry’s growth challenge.
For many Ugandans, insurance will become relevant not because someone tells them they ought to have it, but because a product clearly protects their health, family, income, property or business when they need that protection most.
