The Pensions and Insurance Authority (PIA) has expressed satisfaction with the increasing uptake of insurance in Zambia, highlighting the sector’s positive economic impact and its potential contribution to the country’s Gross Domestic Product (GDP).
According to PIA, insurance uptake among Zambian adults rose to an estimated 3.5% between 2015 and 2020, indicating growing public awareness of the importance of insurance.
Speaking in an interview with RCV News in Lusaka today, PIA Communications Manager, Doreen Silungwe, attributed this growth to improved financial literacy across the country.
“The Farmer Input Support Programme (FISP) insurance policy has played a key role in helping people especially those in the informal sector,” said Mrs. Silungwe.
She also emphasized how advancements in technology have simplified access to digital insurance services.
Additionally, she urged policyholders and insurance providers to adhere to regulatory guidelines to ensure the sector’s continued growth and reliability.
By Cynthia Lupiya
