{"id":36546,"date":"2022-09-02T19:07:30","date_gmt":"2022-09-02T19:07:30","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says"},"modified":"2022-09-02T19:41:12","modified_gmt":"2022-09-02T19:41:12","slug":"insurers-have-no-fitting-products-for-informal-market-report-says","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says","title":{"rendered":"Insurers have no fitting \u00a0products for informal market, report says"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>A report on why the informal sector does not buy insurance despite constituting the largest chunk of the economy, shows that there is no communication between insurers and the low income earners.<\/p>\n

While releasing the findings of the study, Joseph Lutwama the programmes director Financial Deepening Uganda, said they partnered with Makerere University Business School and Uganda Insurers Association to undertake research to understand the risks and challenges that market vendors face when doing business and how insurance can mitigate them.<\/p>\n

\u201cMarket vendors who represent the informal sector, do not know about insurance and the insurance industry is yet to see the value of that market segment. They do not have appropriate products for that market and yet 65 percent of the business is in the informal sector but, few people understand that industry,\u201d he said.<\/p>\n

Financial Deepening Uganda, Mr Lutwama said, had engaged MUBS to generate knowledge for insurance companies to design appropriate products for the informal sector market because they are critical in driving innovations and product development.<\/p>\n

The informal sector, he said, has complex challenges, which insurance companies need to understand.<\/p>\n

Mr Protazio Sande, the Uganda Insurance Authority director planning research and development, said the informal sector constitutes the largest population but insurance has not designed products to penetrate this market.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. A report on why the informal sector does not buy insurance despite constituting the largest chunk of the economy, shows that there is no communication between insurers and the low income earners. While releasing the findings of the study, Joseph Lutwama the programmes director Financial Deepening Uganda, said they partnered with Makerere […]<\/p>\n","protected":false},"author":84,"featured_media":36545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-36546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nInsurers have no fitting \u00a0products for informal market, report says - Uganda<\/title>\n<meta name=\"description\" content=\"A report on why the informal sector does not buy insurance despite constituting the largest chunk of the economy, shows ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insurers have no fitting \u00a0products for informal market, report says\" \/>\n<meta property=\"og:description\" content=\"A report on why the informal sector does not buy insurance despite constituting the largest chunk of the economy, shows ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-02T19:07:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-02T19:41:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/09\/postQueueImg_39.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Insurers have no fitting \u00a0products for informal market, report says\",\"datePublished\":\"2022-09-02T19:07:30+00:00\",\"dateModified\":\"2022-09-02T19:41:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says\"},\"wordCount\":235,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/09\/postQueueImg_39.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/insurers-have-no-fitting-products-for-informal-market-report-says\",\"name\":\"Insurers have no fitting \u00a0products for informal market, report says - 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