Overview:
A new insurance solution for low-income motorists: Protecta Bode targets the 86% of drivers lacking proper car body protection in Uganda
KAMPALA, Uganda — Liberty General Insurance Uganda, Stanbic Bank Uganda’s Bancassurance Agency and SafeCar by SafeBoda have partnered to introduce “Protecta Bode,” an affordable motor insurance product aimed at filling the substantial coverage gap between basic third-party insurance and expensive comprehensive policies.
The new product is designed to provide coverage primarily for accidental damage to a vehicle’s body, including repairs, panel beating and parts replacement at Liberty-approved garages. It also includes third-party liabilities for property damage, bodily injury or death, and provides medical and life benefits for the driver.
The launch addresses a long-standing industry challenge. According to a 2020 Insurance Regulatory Authority report, about 86% of Ugandan car owners only purchase mandatory third-party insurance, leaving them unprotected against damage to their own vehicles because comprehensive cover is widely viewed as unaffordable.
“Protecta Bode” is positioned to bridge this gap with a premium rate of 1.5% of a vehicle’s market value.
Raphael Bisaso, Liberty General Insurance’s head of marketing and distribution, explained that the product’s name is drawn from local language to enhance resonance. “‘Protecta’ is a stylized take on the English word ‘protect,’ while ‘Bode’ comes directly from the Luganda word for ‘body,’ clearly signaling its focus on safeguarding the vehicle’s structure,” he said during the launch.
Initially, “Protecta Bode” will be rolled out exclusively to the 6,000 drivers on the SafeCar platform. The goal is to eventually expand it as a standalone product to the broader market, tapping into a wider ambition of promoting financial inclusion among low- and middle-income motorists, including the 9,000 SafeBoda riders who are transitioning to car ownership.
Peter Makhanu, managing director of Liberty General Insurance Uganda, called the product a continuation of the company’s strategy to make insurance “relevant and practical.”
“By focusing on car body coverage through ‘Protecta Bode,’ we are making insurance relatable and attainable, starting with SafeBoda’s trusted network to bring real value to drivers on the road,” Makhanu said.
Samuel F. Mwogeza, executive director and head of personal and private banking at Stanbic Bank Uganda, emphasized the synergy between finance and insurance, noting that the bank is distributing the product through its bancassurance platform for seamless access.
Christian Wamambe, country director for SafeBoda Uganda, said the initiative aligns with the company’s mission of enhancing driver welfare and road safety. He added that the collaboration is empowering over 15,000 drivers and cyclists.
As part of the launch, the partners also announced a corporate social responsibility road safety campaign. Activities will include training sessions at the SafeBoda Academy, the installation of zebra crossings in 10 high-traffic locations in Kampala and the placement of additional road signage ahead of the festive season.
This partnership follows a previous collaboration in 2023 when the three organizations jointly launched SafeRide, a micro-insurance product for passengers. That initiative earned them the “Most Innovative Bancassurance Agent 2023” award at the Insurance Regulatory Authority’s 2024 awards.