In a groundbreaking move set to redefine the landscape of finance and insurance services in Uganda, Prudential Uganda and Diamond Trust Bank (DTB) have joined forces in a strategic partnership that promises to bring a wave of benefits to customers. This marks a significant milestone in the insurance and banking sectors.
The Memorandum of Understanding signed today 16.11.2023 signifies a shared commitment to enhancing insurance penetration and expanding comprehensive financial solutions in Uganda, where the current insurance penetration stands at a modest 0.6%. This collaborative effort seeks to reach the grassroots, ensuring that more individuals have access to vital insurance products.
Expressing his enthusiasm about the partnership, Mr. Tetteh Ayitevie, CEO of Prudential Uganda, stated;
“At Prudential, we have always strived to make a real difference in the lives of our customers. This partnership with Diamond Trust Bank enables us to extend our reach and provide more people with access to our insurance products. We are excited to be part of this transformative journey.”
DTB’s CEO, Mr. Varghese Thambi, emphasized that the partnership empowers customers with choices that cater to their financial needs, enabling them to advance with confidence and success.
“The partnership with Prudential is an attestation of our commitment to offer an array of services under one roof. Together, we aim to provide convenience and financial security that will positively impact our customers,”
Mr. Varghese Thambi added.
As part of this strategic collaboration, Prudential’s insurance products and services will be seamlessly integrated into selected Diamond Trust Bank branches in Uganda. Key products include the Pru-edu save insurance covers, offering Ugandans the opportunity to invest for both business and life needs, and the Investor Plus policies tailored for a working group heading into retirement.
This partnership comes at a time when global initiatives are encouraging public engagement in fostering a savings and investment culture, as evident in the World Saving Month. The DTB-Prudential partnership is poised to simplify the process for customers seeking solutions for savings and investment, providing a seamless and comprehensive experience.
What makes this partnership truly exceptional is its commitment to not only enhance financial services but also to positively impact communities by fostering a culture of financial security and empowerment. As the world focuses on encouraging responsible financial practices, Prudential Uganda and Diamond Trust Bank are leading the charge in Uganda, offering a beacon of hope and opportunity for individuals seeking a brighter financial future.
This transformative partnership is not just about numbers; it’s about making a lasting impact on the lives of Ugandans, creating a legacy of financial empowerment that will resonate for generations to come.
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