UIA commends Smart Applications International’s innovation

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The Chief Executive Officer of the Uganda Insurers Association (UIA) has lauded Smart Applications International’s innovation, describing it as a timely game-changer for the insurance sector, specifically medical insurance.

The products unveiled include Smart Analytics with the ability to study trends using existing data accumulated over years, import existing data, support integration into existing systems and generate customised reports.

The other is Smart Insure which offers a comprehensive end-to-end scheme management system enabling self-service capabilities and real-time insights.

Speaking during the launch at Four Points by Sheraton on Thursday, Jonan Kisakye highlighted that the launch of the products is unique, given that they address the concerns around medical insurance, which also offers the biggest premiums.

“We have for some time operated manually, but with Smart launching an end-to-end product, they have crafted a solution that tackles some of the challenges that we have on the medical insurance side,” Kisakye noted.

He explained that whereas most of the innovators and the digital platforms the sector has only focus on onboarding clients, this is an opportune moment for Smart Applications to move beyond to areas like pre-boarding, including quotations, underwriting, issuing the policy, policy administration among others.

He adds that this will give insurers a complete chain of transactions and ease operations on the medical insurance consumption.

“This innovation also gives us the power to be able to make a decision and also have very quick interventions if they're necessary. We are hoping that the biggest challenge that we've had, which is fraud, will then be brought down by this innovation.

Secondly, over a period of time, we have generated a lot of information, but the manual operations have not been able to harness the power of this data. But what Smart has now done is to give us the power to analyse this data and use it to the maximum,” he explained.

Meanwhile, Judy Mugoya, country manager for Smart Applications International Uganda Limited, commended the inaugural dialogue of the medical insurance stakeholders dialogue, which opened doors to discuss pertinent issues like technology.

Mugoya explained that the innovation will also go a long way in increasing penetration as they continue to work with partners to support the uptake of microinsurance that addresses the needs of an average customer.

“We know that there are people in organised communities, where they come together and save money for health. But we're saying, can we use a digitised platform for them to access services, but also beyond that for them to have a form of accountability in terms of how many people visited the hospital and ascertain how much they actually used,” Mugoya noted.