By KT Reporter
The Insurance Regulatory Authority (IRA) has officially received the ISO 9001:2015 Certification, a globally recognised standard for quality management, signalling a new level of standard services in the industry.
This international standardisation of the regulator is a result of six years of pursuit by the IRA to have the quality of its management, processes and systems put to scrutiny at a global level, with the idea that this would turn around the quality of the industry it regulates.
“It reaffirms our commitment to excellence and continuous improvement in insurance regulation,” says Ibrahim Kaddubnabbi Lubega, the Chief Executive Officer, IRA.
To the industry, this is a significant step in aligning with a global standard used by over one million organisations in 189 countries, enhancing trust in Uganda’s insurance sector “through proven quality management practices,” as noted by ISO.org’s data on its widespread adoption.
Haji Lubega says the pursuit of the certification was voluntary, meaning that they had not obligation to seek certification, though it exposes the regulator and the service providers to increased scrutiny, declaring that improved service delivery is not a favour to Ugandan by an obligation by the industry.
Expert studies of ISO certifications have reported that such certifications improve customer satisfaction by 15-20 percent through better process transparency, suggesting IRA Uganda aims to set a benchmark for other African regulators.
He called on the insurance companies to also work towards being ISO certified to create more confidence within the public, as well as increase quality service delivery as they respond to the demands of the public.
The achievement also means that the public has been given leeway to query the level of service quality and demand for better, according to Susan Lubega, the Managing Partner at Quality Assurance and Management Consulting.
Dorcus Mukite, a Senior ISO Management Systems Auditor, Trainer, and Consultant, says their auditing and vetting exercise of the IRA application revealed what the regulator was already doing in the leadership of the industry.
IRA Board member, James Muwawu, applauded Management and staff for the effort that led to ISO certification and pledged continued delivery of efficient, compliant services that meet customer needs.
He reminded the Authority not to relax, having achieved the ISO certification, adding that maintaining it is a process which also requires constant audits of the management systems.
The ISO certification places IRA among the other regulators in other countries, meaning it pits the performance of the IRA and the local insurance industry as a whole against those of other countries either in the region or internationally, according to the Ministry of Finance, Planning and Economic Development.
Musa Lukwago, Senior Economist at the ministry, says that this will make IRA keep pace with the domestic demands, but also the developments in the region and elsewhere.
On what the ISO certification means to the public, Protazio Sande, the Director of Planning, Research and Market Development at IRA, says there will be enhanced certainty of what the public expects of the industry and what the insurance companies expect from the regulator-URN. Give us feedback on this story through our email: kamwokyatimes@gmail.com
