Owen Amanya, CEO of Opportunity Bank Uganda, and Cedrick Todwell, Director of Business Development at Turaco, during the launch sanyu product
Opportunity Bank Uganda has partnered with Turaco Microinsurance to introduce Opportunity Sanyu—a first-of-its-kind health and life insurance product, seamlessly integrated into the bank’s savings accounts.
According to the bank, the initiative is set to transform the way Ugandan families access insurance, offering affordable, automatic protection against the financial burdens of hospital stays and funeral expenses.
Owen Amanya, CEO of Opportunity Bank Uganda said by embedding coverage directly into everyday banking, Opportunity Sanyu removes the traditional barriers of paperwork, high premiums, and complex sign-up processes—bringing dignity, stability, and peace of mind to households across the country.
As healthcare costs continue to rise, Ugandan families are bearing the brunt of medical expenses out of their own pockets, often at the expense of long-term financial security. Recent studies show that over 60% of Ugandans rely on personal savings or informal borrowing to cover hospital bills, a reality that frequently forces families to divert funds meant for school fees, business investments, or essential home needs
“With premiums starting from as little as Shs 2,000 per month, Opportunity Sanyu is embedded directly into savings accounts, eliminating the need for separate paperwork, lengthy applications, or complex claims processes. This innovation promises to empower millions of Ugandans with real-time protection against the financial shocks of illness or loss—without disrupting their daily financial routines,” Amanya said.
He explained that Opportunity Sanyu offers a comprehensive package of benefits designed to provide meaningful financial relief during life’s most difficult moments. Customers, he said, receive a hospital cash benefit ranging from Shs200, 000 to Shs1 million per year, helping to offset the high costs of inpatient care and easing the burden on families during medical emergencies.
“In the unfortunate event of a death, the product also includes a funeral cover with lump-sum payouts between Shs500, 000 and Shs2 million, ensuring that loved ones can be laid to rest with dignity. Enrollment is effortless, and insurance is automatically linked to savings accounts upon simple customer consent, removing the need for separate paperwork or complex sign-up procedures,” he explained.
Amanya noted that this innovative product doesn’t merely enhance the utility of a savings account, but signifies a bold shift in the role of financial institutions in Uganda. By embedding insurance directly into everyday banking, Opportunity Bank is leading the way in redefining customer care, making protection and peace of mind an integral part of the banking experience.
He said Opportunity Sanyu has seamless integration with Turaco’s cutting-edge, tech-enabled platform, which ensures fast, hassle-free claims processing.
Unlike traditional insurance models that are often bogged down by lengthy paperwork and delayed disbursements, Turaco’s system allows beneficiaries to receive payouts within days—delivering real relief when it matters most.
Cedrick Todwell, Director of Business Development at Turaco
Cedrick Todwell, Director of Business Development at Turaco, said the launch was a landmark moment for financial inclusion in Uganda. “This product reflects exactly what modern insurance should be—embedded, affordable, and instantly available at the point of need,” he said.
He emphasized that Opportunity Sanyu exemplifies Turaco’s mission to simplify insurance and make it part of everyday life, especially for underserved communities.
Since entering the Ugandan market in 2019, Turaco has collaborated with banks, fintechs, and mobile network operators to reach more than 4 million people across Africa, with over 1 million lives insured in Uganda alone. Their bold vision is to make insurance as simple, accessible, and widespread as mobile money—a tool that empowers people to weather life’s uncertainties without sacrificing their financial future.
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