Annie Nibishaka, the Managing Director of UAP Insurance Rwanda, has been elected to lead Rwanda Insurers Association (ASSAR) – an advisory body for the insurance sector – the association said in a statement on Wednesday. She replaces Gaudens Kanamugire, who earlier this year resigned from the board along with his executive secretary over what was termed as “unethical conduct” and “perceived conflict of interest.” Nibishaka, who has served at UAP for eight years including as the deputy director and head of marketing and distribution, will now take on the oversight of the Association along with new board members. The association provides guidance and advisory to the insurance sector, particularly focusing on policies that promote the insurance market in Rwanda, an industry that is still nascent compared to the region. Rwanda’s insurance penetration remains generally low, with gross premiums averaging around 1.6 per cent of gross domestic product (GDP). The new bureau, elected by the General Assembly, will also be composed of Jean-Chrisostome Hodari as the vice-chairperson, Alex Bahizi as the secretary-general and Daniel Muhimuzi Mugisha as the treasurer. They took the leadership effective October 6. “The bureau is elected at an exciting time when the industry has a number of transformative reforms in areas of digitalization, product development revolution, regulatory and risk reporting changes that all require highly dynamic, focused and visionary individuals at the helm of the association,” the Association said. The Association said in a statement that the Board has already established key areas in the insurance industry that need clear and responsive approaches. That includes centralization of industry data, enhanced information technology systems infrastructure, cooperation in risk management, customer-centric product offering, and digital distribution enhancement. Product innovation, pricing, up-scaling staff skills, and stakeholder relationship management have also been cited as the focus for the new team. The Bureau is elected for a term of three years renewable only once. The Association has an implementing organ called the Secretariat, currently headed by Denise Rwakayija who was also appointed recently as the Executive Secretary.
