Minister of Finance and National Planning, Situmbeko Musokotwane has called for the deployment of digital technology tools to increase insurance coverage in the country.
Dr. Musokotwane says there is need for more innovative digital technologies to speed up the coverage of insurance and payment of claims
Speaking during the inaugural Insurtech Conference in Lusaka today, Dr. Musokotwane said digital tools have the potential to serve people in remote parts of the country if they have access to a mobile phone.
“Many of the uncovered people in the countryside can easily be accessed using mobile phones,” said Dr. Musokotwane.
Dr. Musokotwane has also urged farmers affected by the drought to be insured so that they can easily be reached through digital tools.
And Gralix Chief Executive Officer, Mulenga Mutati said he decided to collaborate with various companies to organize the first ever Insurtech Conference in order showcase the technological innovations which are available in the insurance sector.
“The insurance sector in Zambia has witnessed change with regulatory reforms and growth,” said Mr. Mutati.
Mr. Mutati said several companies from East and Southern Africa and the Middle East have brought their innovations at the two-day conference to show how digital tools can be utilized to make insurance more effective.
Meanwhile, Pensions and Insurance Authority Registrar and Chief Executive Officer, Namakau Ntini said the country needs more digital innovations to fight fraud and service clients.
Ms. Ntini highlighted the need for more investment in cyber security and data protection in the insurance sector.
By Margaret Mwanza
