Professional Insurance Corporation Zambia (PICZ) and Airtel Money have launched a mobile Insurance Service across Zambia powered by Inshuwa Technologies Zambia, a local tech company.
The partnership between the largest General Insurer – PICZ and the and Airtel Money – Zambia’s leading mobile financial services will bring mobile- based insurance closer to every Zambian Citizen who has access to Airtel Mobile money services.
With PICZ having over 33 years of services and expertise in mitigating financial risks for individual, businesses, and mega industries.
With this collaboration, PICZ will be able to drive greater innovation which will offer both self- service digital transactions.
Speaking at the Launch event attended by the Zambian Business Times – ZBT, Airtel Money Country Director Andrew Chuma noted that under the partnership, Airtel Money users will now purchase insurance, pay premiums, and receive claims payouts instantly via mobile phones using the *115# Menu, which will reduce the need of traveling distance, paperwork, and lengthy procedures.
“ At the heart of Airtel Money is you, the customers and this partnership is not only about technology, it’s about people. Every aspect of our services is designed with you in mind, whether you are in Lusaka, Shangombo, Mwinilunga, Kaputa, Choma or any rural village”, said Chuma.
Speaking at the same event, Professional Insurance Corporation Zambia Managing Director Moses Siame added that partnership is critically strategic as it will help enhance accessibility, improve customer experience, and significantly deepen market penetration.
“Limited reach in traditional insurance distribution remains a significant barrier to uptake in rural and underserved communities, that why this partnership is critically strategic in enhancing accessibility, improve customer experience and deepen market penetration by taking insurance straight to mobile phones”, said Siame.
Guest of honor at the launch, Minister of Technology Felix Mutati noted that insurance penetration of 6% is too low and unacceptable, but through this partnership, insurance penetration is expected to gain momentum.
“6% insurance penetration is too low and the partnership between PICZ and Airtel Money coupled with Governments target to increase mobile phone connectivity to reach 96% in 2026 in the country, better risk mitigation for Zambians will be made available at affordable prices”, said Felix Mutati.
He further commended the use of local IT firm – insuretech to solve local problems of 6% insurance penetration in the country. We have to find local solutions to local problems and Professional Insurance & Airtel are commended for using a local firm as their technology partner.
