Finance and National Planning Minister Dr. 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 when he officially opened the inaugural Insurtech Conference in Lusaka this morning, Dr. Musokotwane said digital tools have the potential to serve people in remote parts of the country aslong as they have access to a mobile phone.
He said many of the uncovered people in the countryside can easily be accessed using mobile phones.
Dr. Musokotwane said farmers who are affected by the drought also need insurance cover and they can easily be reached through digital tools.
And Gralix Chief Executive Officer Mulenga Mutati said he decided to collaborate with various companies to organise the first ever Insurtech Conference in order showcase the technological innovations which are available in the insurance sector.
Mr. Mutati said the insurance sector in Zambia has witnessed change with regulatory reforms and growth.
He said a number of 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 utilised to make insurance more effective.
Meanwhile, Pensions and Insurance Authority President Namakau Ntini said the country needs more digital innovations to fight fraud and service clients.
Ms. Ntini said the innovations must be responsible as the regulator wants clients to be serviced in a proper way.
She added that there is need for more investment in cyber security and data protection in the insurance sector.
