The 47th Annual Conference and Annual General Meeting of the Organisation of Eastern and Southern Africa Insurers (OESAI) officially opened, drawing leaders from across the regional and international insurance industry. Among the keynote voices was Claver Sserumaga, Executive Director of Equity Bank Uganda, who challenged insurers to view regulation not as a burden but as a springboard for innovation and stronger customer relationships.
Sserumaga reflected on lessons from the banking sector, where regulatory demands once seemed restrictive but have since become a foundation for growth and trust.
“For a long time, regulation was seen as a constraint, something that slowed down processes and weighed down institutions. But what we have learned in banking is that regulation, when embraced, can actually become a source of trust and efficiency,” he said.
He noted that insurers, too, can embed compliance within the customer journey in ways that add value, especially in today’s digital era.
“Insurers, just like banks, can turn compliance into a catalyst for innovation by embedding it into the customer journey. With the right digital tools and greater transparency, regulation and customer centricity can work hand in hand to strengthen long-term relationships and credibility,” Sserumaga added.
As Africa’s financial sector undergoes rapid transformation, Equity Bank’s experience underscores how regulation, innovation, and customer service can align to build resilient industries.
Now in its 47th year, the OESAI Conference remains a premier platform for regional knowledge exchange, offering insurers opportunities to explore growth areas such as insurtech, microinsurance, and climate-risk coverage — all anchored on the principles of trust and transparency.
