Tracking industry seeks to deepen insurance uptake
L-R: Sales Manager Oryx Nathan Balinda, socialite Martha Kay and Alan Tayebwa from RTT
In a move to deepen insurance penetration in the country, Real Time Tracking (RTT), a leading GPRS Services Provider in the country, is willing to partner with insurance sector players, including the industry regulator to drive the uptake of insurance that has been hovering between 0.8 and 1 per cent for years now.
Already RTT leadership has made contact with insurance sector regulator as well as with some players in the industry, and should the deal come to fruition as anticipated, the insurance sector payers will automatically have access to thousands of vehicles under the radar and binoculars of RTT.
It further emerged during the launch of the tracking system in the country last week that nearly 1000 vehicle are stolen in the country annually and only about a quarter of that is recovered.
“Our desire is to help all the other economic sector players concentrate on creating wealth instead of worrying about safety of their important and prized assets,” RTT Managing Director, Mr Allan Tayebwa said.
He continued: “All economies that have grown and developed have in place systems that protect, recover and replace key assets, so that you are able to worry about creating wealth and not where about of your asset, and instead focus in increasing your business growth and maximizing its efficiency.”
According to insurance industry players and security experts, it is better for people owning assets such as motorbikes, vehicles, generators, underground tanks, surface tanks, tractors, heavy machinery among others to have them insured and fitted with tracking solutions as it is easier to replace or located them in case of eventualities. And for the law enforcers, it makes it easier and quicker for them to apprehend the criminal and apply the full extent of the law. As for you its saves you from both emotional and financial loss in a time like this when the economy is trying to find its footing in the face of the rising inflation and the biting effects of Covid-19 pandemic.
