BY SAMUEL NABWIISO
KAMPALA, UGANDA- dfcu Bank customers who have been struggling to purchase insurance policies have a chance to Smile after the bank joined insurance services provision by launching DFCU insurance.
dfcu Bank’s Chief Commercial Officer and Executive Director; William Sekabembe revealed that they have taken a slightly different approach to Bancassurance.
“Bearing in mind the needs of our customers and the current socio-economic times, we have designed and embedded insurance within some of our existing products to make it easier for customers to appreciate and get the best out of insurance,” said Ssekabembe.
He said dfcu Insurance will present customers with a better way to secure a legacy whether it is about getting cover for their assets, education for their children or life after employment and so much more.
“So we have created several insurance products- for our customers with individual accounts and for those with group portfolios such as our Investment Clubs,” he added.
Bancassurance – the selling of life assurance and other insurance products and services by financial institutions is expected to support this growth agenda.
According to Martha Aheebwa, the dfcu Bank Principal Officer – Bancassurance, the financial Institution under the Bancassurance, will be offering products such as, Investment Clubs cover, Salary protection cover, Hospital cover for Dembe accounts and so much more.
Other off-the-shelf insurance products available at the 66 dfcu branches countrywide include motor insurance, fire and burglary, domestic insurance cover to medical insurance, life insurance and property insurance.
The coming up of dfcu Bank to offer Insurance services will play a big role in increasing the insurance penetration in the country which is still very low at 1%.