4th Annual Insurance Conference
On the 11th June 2018 the 4th annual Insurance Conference under the theme ” Harnessing the potential of insurance towards business growth and inclusivity” was officially launched by the Secretary to the Treasury, Mr. Fredson Yamba, on behalf of the Minister of Finance. The Pensions and Insurance Authority (PIA) registrar Mr. Martin Libinga also addressed the delegates at the official opening. The Deputy Governor of Operations at the Bank of Zambia, Dr. Bwalya Ngandu gave a presentation on the economic outlook for the nation. The IAZ President Mr. Paul Nkhoma during his speech emphasized that stakeholders need each other in order to make progress. He also encouraged insurers to make use of opportunities for co-insurance and exhausting local capacity before thinking of externalizing cover. The IAZ Executive Director, Mr. Nkaka Mwashika highlighted the importance of Insurance providers working together to improve the reputation of the industry and to find solutions to the common challenges faced.
CEO cocktail – March 2018
On Thursday 15th March 2018, the Permanent Secretary of the Ministry of Health Dr Kenneth Malama, on behalf of the Minister of Health Dr Chitalu Chilufya, addressed insurers on the National Health Bill No. 22 and the National Health Scheme it would support. Matters raised in the presentation included the fact that only 3%of the population are on prepaid health schemes or have health insurance and that many have to pay out of pocket for medical expenses. The Insurers were also assured that the mandatory National Health Insurance scheme will not bar Private Health coverage, and that supplementary coverage by private schemes will continue. The forum was sponsored by Prudential Life Assurance Ltd and facilitated by IAZ.
Launch of the Fin-Client Centric Cycle (F3C)
On the 15th March 2018, Financial Sector Deepening Zambia (FSDZ) launched the Fin-Client Centric Cycle (F3C) at Radission Blue. F3C is a new innovative support facility to help financial service providers (i.e. Insurers, Bankers, Capital Markets, etc) create innovative new products that will achieve both client value and profitability. This client-centred approach takes the provider through the understanding, design, test and evaluation cycle for creating a successful product. Applicants must be ready to co-invest in the process, and FSDZ would provide a succesful applicant with technical and fiscal support towards the process. Application deadline in 30th April 2018. Non-Financial service providers may apply if they will partner with an FSP for the process. For more details , visit the FSDZ website : http://www.fsdzambia.org/
Financial Literacy Week 2018
The annual Financial Literacy Week takes place from 19th to 25th March 2018. This initiative aims at educating and motivating all Zambians to make full use of the available financial services, which include Insurance, Banking and Capital Markets. Watch out for events near you! Think about your financial needs in the next 6 months, one year or ten years. It is important to have both short term and long term financial plans; so save, invest and insure for a better financial future!