Insurance sector urged to embrace tech innovations

By Mark Ziligone

Government has called on stakeholders in the insurance sector to embrace technological innovations that will enhance provision of insurance services for consumers.

Finance and National Planning Minister, SITUMBEKO MUSOKOTWANE says leveraging advancements in technology and mobile money to improve accessibility to insurance services is among the areas players can focus on.

Speaking during the Insurtech conference in Lusaka, Dr. MUSOKOTWANE said the insurance industry is at a pivotal moment with the potential to transform how services are delivered.

He explained that the rise of mobile technology has created new opportunities for reaching underserved populations across the country.

And Pensions and Insurance Authority Chief Executive Officer NAMAKAU NTINI said technology can be used to elevate the insurance sector by NOT only efficient services of customer but also through the use of data analytics to develop sustainable businesses.

Meanwhile, Gralix Insurtech Chief Executive Officer MULENGA MUTATI said their developments would target not only Zambia but also neighbouring countries, reflecting a commitment to expanding access to insurance services across the region.