By Takondwa Nyirenda, Contributor
United General Insurance Company Limited (UGI) has donated K15 million to Malawi University of Business and Applied Sciences (MUBAS) in support of the upcoming innovation conference scheduled for September under the theme ‘Research and Innovation’, as part of its commitment to advancing innovation and knowledge.
Speaking during the donation ceremony, UGI Chief Operations Officer (COO) McDonald Chibwe said the company was pleased to support the conference.
“Anything that deals with research and innovation attracts our interest, because it is through research we gain knowledge, improve our products and services, and enhance the use of technology to serve customers better,” said Chibwe.NBS Bank finances Lindian US$11.6M equipment
Chibwe said innovation continues to play a key role in the insurance industry, citing the company’s adoption of new technologies, including AI Agent for handling customer claims and Matrix technology in motor insurance operations.
“We are in a service industry where success is measured by value that we give to our customers. Technology is advancing in real time, and with developments in artificial intelligence, we can further improve how we assess and manage risk while enhancing customer experience,” said Chibwe.
He added that technological advancements have potential to provide practical solutions to everyday challenges and transform the way insurance services are delivered.Standard Bank Announce K46.1 Million Sponsorship
“With these innovations, we believe insurance delivery can be transformed, while creating opportunities for institutions to partner with us in providing solutions that improve people’s lives,” said Chibwe.
MUBAS representative Professor Bernad Thole commended UGI for its continued support towards research and innovation initiatives at the university.
“We are happy when we approached them, they willingly offered support. UGI has partnered with us for a number of years in research activities and seminars,” said Thole.
Thole said partnerships between academia and the private sector are important as they create mutual benefits through knowledge sharing, innovation and business growth.NBM plc repositions ‘NBM Smart Cover’ to ease upfront insurance costs
“MUBAS has expanded its focus beyond research to include innovation and resource utilisation in order to provide practical solutions to the private sector. While the private sector can benefit from innovations developed by the university, we also learn valuable lessons from industry on how to manage and grow enterprises,” said Thole.
MUBAS is also expected to hold another conference in August under the theme ‘Developments in Infrastructure and Investments