KAMPALA ; Pride Bank Uganda, in strategic partnership with Jubilee Health and Padre Pio Insurance Brokers, today announced the launch of Pride Care, a groundbreaking embedded insurance solution under the campaign ‘Malayo ne Pride.’ This landmark product is designed to give customers true peace of mind by linking health protection directly to their savings. The campaign name, ‘Malayo ne Pride,’ reflects the core benefit: Distance yourself from worry and financial distress with Pride.
Pride Care is a critical addition to the bank’s growing portfolio of customer-focused innovations, strengthening its position as a Tier 2 financial institution committed to holistic empowerment.
The concept is simple yet powerful: qualifying customers who maintain a minimum balance of UGX 100,000 in their Pride Bank accounts will automatically gain access to essential health insurance cover. This innovative approach integrates healthcare security into everyday banking, ensuring that financial inclusion extends beyond access to credit and savings to include vital protection from unforeseen medical expenses.
The launch underscores Pride Bank’s commitment to pioneering inclusive financial products that respond to the real challenges faced by Ugandans. By embedding insurance into the savings ecosystem, the bank is bridging a critical market gap, helping individuals and families safeguard their well-being while nurturing a crucial culture of financial discipline.
Customers can access the benefits from Health centers across the country that offer Jubilee services.
Speaking at the launch, Ms. Veronicah Gladys Namagembe, Pride Bank’s Managing Director, emphasized the institution’s vision. “At Pride Bank, we believe true financial inclusion must go hand in hand with social protection. Pride Care is not just a banking product; it is a commitment to walk with our customers through life’s uncertainties, offering them the reassurance that their health and that of their families can be protected when they maintain a disciplined savings culture,” she stated.
Pride Care is structured into tiered packages, including Bronze, Gold, and Platinum, where benefits increase proportionally with the customer’s monthly closing balance. This ensures that financial discipline is continually rewarded with enhanced health security.
Jubilee Health Insurance CEO Dan Musiime noted that while innovation is very pertinent to thrive in today’s ever-changing business terrain, industry players must leverage collaborations and explore synergies to best serve the varying needs of the customers.
“There are five common diseases covered under Pride Care. That’s Malaria, Typhoid, Diarrhea, Urinary Tract Infections (UTIs) and Upper Respiratory Tract Infections (URTIs). These were carefully identified based on the healthcare data showing the ailments that most burden our customers. For example, according to World Health Organization, Malaria accounted for 30-40% of Ugandan outpatient visits in 2023,” revealed Mr. Musiime.
Beyond individual customers, the product actively targets Small and Medium Enterprises (SMEs), offering a convenient solution that allows businesses to extend health protection to their employees without incurring heavy administrative burdens. This dual focus ensures the impact of Pride Care extends across households and workplaces, contributing to a healthier, more productive national workforce.
The launch comes at a pivotal time when access to affordable healthcare remains a pressing challenge. By integrating insurance into banking accounts, Pride Bank is taking a bold step toward easing the burden of hospital bills, a leading cause of financial distress, and helping families preserve their savings for long-term goals.
Pride Bank has a 30-year legacy of driving financial inclusion. The introduction of Pride Care builds on this heritage, reinforcing the bank’s vision to not only provide financial solutions but to also invest directly in the well-being and resilience of its customers.
The official unveiling of Pride Care marks a significant milestone in the evolution of Uganda’s financial services sector, setting a new precedent in how banks can innovate to meet the holistic needs of the communities they serve.
Related Posts:
Recommended for you
Leave a Reply
Leave a Reply