Rising Demand for Risk Intelligence Drives EIRS Expansion Across Southern Africa
The move comes on the back of an emerging demand for risk intelligence and advisory services, which is accelerating across emerging African markets.
EIRS is set to significantly scale its operations in Zambia and Malawi, with plans to grow its combined team by over 65% within the year, as part of a broader expansion and investment strategy aimed at building deeper, on-the-ground expertise.
The move comes on the back of an emerging demand for risk intelligence and advisory services, which is accelerating across emerging African markets. Across Africa, insurance penetration remains low, averaging roughly 2.8% to 3.5% of GDP, compared to a global average of over 7%. This gap is not just about access. It points to a deeper need for expertise, data, and structured risk management frameworks that many businesses are still developing. At the same time, the market is growing. The African insurance sector is projected to expand at a compound annual growth rate of over 11% in the coming decade, driven by urbanisation, infrastructure development, and rising awareness of risk exposure (Market Data Forecast). This growth is creating demand for more specialised services, particularly in sectors such as mining, agriculture, and financial services, which dominate economies like Zambia and Malawi.
Responding to market
EIRS is strengthening its local teams in Africa to support a broader client base and deliver more tailored risk advisory services. The focus is clear: build in-market expertise, deepen client relationships, and move closer to the operational realities businesses face on the ground.
“Insurance in our markets is no longer just about transferring risk, it is about understanding it, quantifying it, and managing it proactively. As businesses grow and sectors become more interconnected, the need for structured risk insight becomes critical. Our expansion is anchored on building that capability locally, so we can support clients with solutions that are both practical and forward-looking.”
– Margaret Banda, Business Head, EIRS Zambia
The team expansion also aligns with broader regulatory and market developments across Southern Africa. As regulatory frameworks become more sophisticated and aligned with global standards, companies are under increasing pressure to demonstrate stronger risk governance and resilience.
According to the Global Credit Rating Co., insurance markets in countries like Zambia are showing steady premium growth and improving regulatory oversight, signalling a maturing industry. This creates an opportunity for firms that can combine local knowledge with global best practices.
“Our focus is on building a risk intelligence-driven business. Clients today are dealing with more complex risks such as climate exposure, supply chain disruption, regulatory change. They need partners who can go beyond policies and provide insight. Strengthening our teams in Zambia and Malawi allows us to deliver that level of support consistently.”
– Abhishek Jain, Chief Executive Officer, EIRS
As Africa’s insurance landscape evolves, firms that invest in expertise, data, and advisory capacity are likely to play a defining role in shaping the sector’s future. EIRS is positioning itself firmly within that space, where risk is not only covered, but clearly understood.
