{"id":47850,"date":"2023-04-18T10:33:11","date_gmt":"2023-04-18T10:33:11","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/medical-cover-uptake-grows-profitability-remains-low"},"modified":"2023-04-18T11:07:29","modified_gmt":"2023-04-18T11:07:29","slug":"medical-cover-uptake-grows-profitability-remains-low","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/medical-cover-uptake-grows-profitability-remains-low","title":{"rendered":"Medical cover \u00a0uptake grows, profitability remains low"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Medical insurance uptake and gross written premiums have more than doubled in eight years since 2014, according to a study by Insurance Regulatory Authority (IRA)<\/p>\n

The study – Formal Medical Insurance in Uganda \u2013 further indicates that profitability by insurers, despite the growth in uptake, remains far below expectation with corporate clients dominating the uptake. .<\/p>\n

Speaking during the release of the findings of the study in Kampala, Mr Ibrahim Lubega Kaddunabbi, the IRA chief executive officer, said for the last eight years from 2014 to 2021, medical insurance premiums have more than doubled with users growing to Shs245b.<\/p>\n

\u201cThe study established that medical insurance gross written premiums for the last eight years increased from Shs107.6b in 2014 to Shs244.98b in 2021. The loss ratio on the other hand remained consistently high over the same period averaging about 75 per cent with claims amounts increasing from Shs61.2b in 2014 to Shs117b in 2021,\u201d he said.<\/p>\n

However, the level of profitability for medical insurers remains low with 75 percent of written premiums paid out in claims.<\/p>\n

The study also found that medical insurance is dominated by corporate clients, anchored by underlying values of companies that employ users.<\/p>\n

\u201cFor corporate clients, it enhances the wellbeing and improves the health of workers and family members through access to quality health care. It motivates staff and also provides a healthy workforce,\u201d Mr Kaddunabbi said.<\/p>\n

The study also found that while aggregated premiums for corporates were relatively affordable, individuals who took out medical insurance noted that it was costly and inaccessible to most.<\/p>\n

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

Africa-Press – Uganda. Medical insurance uptake and gross written premiums have more than doubled in eight years since 2014, according to a study by Insurance Regulatory Authority (IRA) The study – Formal Medical Insurance in Uganda \u2013 further indicates that profitability by insurers, despite the growth in uptake, remains far below expectation with corporate clients […]<\/p>\n","protected":false},"author":84,"featured_media":47849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[233,240,234],"class_list":["post-47850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nMedical cover \u00a0uptake grows, profitability remains low - Uganda<\/title>\n<meta name=\"description\" content=\"Medical insurance uptake and gross written premiums have more than doubled in eight years since 2014, according to a stu ...\" \/>\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\/medical-cover-uptake-grows-profitability-remains-low\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Medical cover \u00a0uptake grows, profitability remains low\" \/>\n<meta property=\"og:description\" content=\"Medical insurance uptake and gross written premiums have more than doubled in eight years since 2014, according to a stu ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/medical-cover-uptake-grows-profitability-remains-low\" \/>\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=\"2023-04-18T10:33:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-18T11:07:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/04\/postQueueImg_1681797801.48.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\/medical-cover-uptake-grows-profitability-remains-low#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/medical-cover-uptake-grows-profitability-remains-low\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Medical cover \u00a0uptake grows, profitability remains low\",\"datePublished\":\"2023-04-18T10:33:11+00:00\",\"dateModified\":\"2023-04-18T11:07:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/medical-cover-uptake-grows-profitability-remains-low\"},\"wordCount\":271,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/medical-cover-uptake-grows-profitability-remains-low#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/04\/postQueueImg_1681797801.48.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"community\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/medical-cover-uptake-grows-profitability-remains-low#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/medical-cover-uptake-grows-profitability-remains-low\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/medical-cover-uptake-grows-profitability-remains-low\",\"name\":\"Medical cover \u00a0uptake grows, profitability remains low - 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