Government has reaffirmed its commitment to driving digital transformation in the insurance sector as a way of enhancing efficiency, transparency and financial inclusion.
Minister of Finance and National Planning, Situmbeko Musokotwane, says technology remains a key enabler in expanding access to insurance especially for underserved communities.
Speaking during the Gralix Insurtech Conference and Bimalab Africa Innovation for Resilience Conference in Lusaka, Dr Musokotwane says embracing innovation will improve service delivery, broaden coverage and allow more Zambians to protect themselves against financial risks.
“Government remains dedicated to creating an enabling environment for innovation. We are ready to support initiatives that leverage digital platforms to make insurance more affordable and accessible including for citizens in rural areas,” he said.
Dr Musokotwane added that digital adoption will align the local insurance industry with global financial trends, attract investment and strengthen consumer trust.
He further revealed that government is collaborating with regulators, industry players and technology innovators to put in place policies and infrastructure that support sustainable growth.
Pensions and Insurance Authority (PIA) Registrar, Namakau Ntini, urged that the sector must remain responsive to technological changes and consumer expectations.
She emphasised that innovation thrives in a conducive regulatory environment that balances creativity with consumer protection.
And, Insurers Association of Zambia Executive Director, Nakaka Mwashika, stressed that the industry has long championed innovation and optimisation.
He described this year’s conference theme, “Building Bridges: Transforming Traditional Insurance by Accelerating Innovation,” as timely, stressing the need for collaboration.
“Embracing the tools of tomorrow will help meet the ever changing needs of clients and the insuring public. Bridges are symbols of unity and this is the spirit we need to carry the industry into a new era of resilience and relevance,” he said.
The conference brought together stakeholders from government, regulatory bodies, and the insurance industry to chart the way forward in advancing digital transformation for inclusive insurance services.
