Zambia to host global reinsurance `Indaba`

ZAMBIA will this year host the International Reinsurance Conference which is expected to address challenges being faced by sector players in the provision of inclusive insurance products, ZEP-RE reinsurance country director, Shipango Muteto has said.

0r 0uteto said the conference which will take place in 1ovember will bring together over 00 participants from different parts of the world in /usaka to chart the way forward for the insurance sector as regards micro insurance products.

+e said the conference will help the ,nsurance $ssociation of Zambia attain the target to have over million insured persons by the year 01 .

0r 6hipango was speaking during the partner’s launch of the 0adison /ife domestic travel insurance policy.

The policy is aimed at covering the traveling public with special attention to the micro insurance sector in /usaka on :ednesday.

+e challenged the insurance sector to take a leading role in the formulation of products that are tailored to bring inclusiveness in the sector.

“0adison has taken a leading role in introducing products that will respond to the needs of the micro insurance sector as you may recall they were the first to launch the µtilitonse’ product that meets the needs of the insuring public much more at individual lev- els.

“, further commend the )inancial 6ector 'eepening Zambia )6'Z for helping the insurance sector come up with products that are inclusive first of all because of their research that identifies the needs and gaps that are there in Zambia and also for helping insurance sector players with capacity building,´ he said.

0r 6hipango commended the Zambian insurance sector for coming up with products that are responding to the needs of the Zambian community. He added that domestic travel tourism is a product that most of people needed especially those who are usually in transit.

+e e[pressed optimism of meeting the si[ million insured persons by the year 01 .

The sector, he said, was on course especially with the introduction of new products which included the over one million farmers that were covered in the weather inde[ insurance under the farmer input support programme.

+e however challenged sector players to be more proactive in the provision of risk management solutions to the people. $nd 0adison life managing director $gnes &hakunta said her company will continue to support the growth of the local insurance sector.

6he said the domestic travel life insurance plan is one of the many micro products the company is bringing on board.