From finance to insurance: How Carolyne Tayebwa found her true calling

Carolyne Tayebwa’s career trajectory at UAP Old Mutual Insurance is a testament to her dedication and hard work. Starting as an Assistant Credit Control Manager, she has now ascended to the role of Head of Marketing and Distribution, a position she earned through her notable contributions to business growth, customer satisfaction, and strategic partnerships.

With over 16 years of experience in the insurance industry, Carolyne is well-versed in its complexities. She holds a bachelor’s degree and a Postgraduate Diploma and is currently pursuing a Diploma in Insurance and a Chartered Institute of Marketing certification. Her commitment to the industry is also evident through her active involvement with The Insurance Consortium for Oil and Gas Uganda, Insurance Training College, and Women in Insurance.

In the conversation below, Carolyne shares her insights on her journey, her vision for UAP Old Mutual Insurance’s future, and her perspective on the evolving insurance landscape.

Tell us about your journey in the insurance industry over the past 16 years

My journey in the insurance industry has been both dynamic and enriching. I’ve had the opportunity to work in multiple departments across different companies, from Customer Experience and Marine and Special Risks to Credit Life and Finance Credit Control. These roles helped me refine my skills in client relations and develop a strong foundation in the insurance business.

In 2014, I joined UAP Old Mutual as an Assistant Manager in Credit Control within the Finance department. My versatility led me to properties management, which paved the way for my promotion to Business Development Manager in Agency. This role evolved into Country Agency Services Manager for Uganda, where I honed my leadership and strategic skills. Later, I transitioned to managing the broking portfolio as Business Development Manager, gaining exposure to key markets such as Oil & Gas, Manufacturing, and renewable energy, and helping solidify UAP Old Mutual’s leadership in these sectors.

Recently, I was appointed Head of Marketing and Distribution, a role that allows me to further pursue my passion for customer experience and drive growth and innovation in the industry. My experience at UAP Old Mutual has not only propelled my career forward but also strengthened my business networks, allowing me to contribute meaningfully to the company's market leadership.

What inspired you to pursue a career in insurance, and what keeps you passionate about the field?

My entry into the insurance industry was unexpected. I originally planned to pursue a career in banking, but a close friend encouraged me to explore insurance, a unique and growing sector in Uganda. With the guidance of supportive mentors, I came to appreciate the significant impact insurance has on people’s lives.

My passion for insurance comes from a deep desire to serve people meaningfully, helping them achieve their financial goals while enhancing their customer experience. My father, a seasoned businessman (MHSRIP), also played a major role in shaping my drive to make a positive impact on both the industry and the economy. Being part of a business-oriented and supportive family has instilled in me a commitment to excellence and innovation, particularly within the insurance sector.

What has been the key highlight of your career progression in the industry?

Working for a multinational brand that nurtures both career and personal growth has been an enriching experience. The opportunity to engage with various markets and tackle complex challenges has broadened my perspective and honed my skills.

A major highlight of my career has been receiving the annual offshore award for two consecutive years, with an international trip as a reward for being a top performer at UAP Old Mutual Insurance Uganda. Another significant achievement was leading the Insurance Consortium for Oil and Gas Uganda (ICOGU) as Business Development Manager for Broking, solidifying our position as an industry leader.

These milestones, alongside continuous growth and recognition at UAP Old Mutual, have fueled my passion and commitment to contribute even more to the industry.

As the new Head of Marketing & Distribution at UAP Old Mutual Insurance, how do you plan to innovate and drive growth?

In my new role, I’m excited to lead our team to new heights by focusing on innovation, customer-centric strategies, and data-driven insights to accelerate business growth.

My goal is to enhance our digital efforts to improve how we engage with clients and deliver exceptional customer experiences. I also plan to strengthen our distribution channels through strategic partnerships and explore new markets to broaden our reach. Ultimately, I aim to ensure that UAP Old Mutual remains a market leader by delivering exceptional value to our customers and stakeholders.

Through a combination of strategic innovation and commitment to excellence, I’m confident we’ll achieve sustainable growth and solidify our brand’s reputation in the industry.

In your decade of experience, what significant changes have you observed in the insurance industry?

Over the past decade, I’ve observed significant changes, particularly in regulation and supervision by the Insurance Regulatory Authority, which has elevated business standards and strengthened trust between insurers and clients.

The Uganda Insurers Association has been instrumental in expanding insurance and reinsurance activities, fostering industry collaboration, and increasing market visibility. The establishment of ICOGU in 2016 has also enhanced collaboration and built the technical capacity needed to handle oil and gas risks in Uganda.

Additionally, the restructuring of the Insurance Training College under the Insurance Amendment Act has enhanced professional education within the industry, creating a more knowledgeable and competent workforce.

In recent years, we’ve also seen increased settlement of large claims, particularly after the pandemic, which has prompted the market to adopt more prudent underwriting practices, solid reinsurance programs, and stronger capital adequacy measures.

For the girl child, drawing from your experience, what message would you like to extend to them?

To every girl child out there, believe in yourself wholeheartedly. Success is not just about the final achievement but about the journey. It’s about how you overcome obstacles, rise above challenges, and grow from failure. Perseverance, resilience, and courage are key to achieving your goals.

Be patient with yourself, stay focused on your values, and trust in your abilities. One of my favorite quotes from Oprah Winfrey is, “The greatest discovery of all time is that a person can change their future by merely changing their attitude.” Strive for greatness every day with a positive attitude, and you’ll make a meaningful impact on the lives of others.