THE Insurance Institute of Zimbabwe (IIZ) will next week host the inaugural Southern Africa Insurance Indaba, marking a rebrand of its traditional annual conference. IIZ president Clementine Chinyuku (CC, pictured) told our chief reporter Melody Chikono (MC) this week that, by focusing on Africa for the first time, the institute is embracing a transformative shift, one that acknowledges the continent’s interconnectedness, shared challenges and vast potential within its insurance markets. Below are excerpts from the interview:
MC: The theme this year focuses on ‘reimagining insurance’. In your view, what does reimagining look like for Africa’s insurance sector in practical terms?
CC: Reimagining insurance in Africa goes beyond technology upgrades or new products — it requires transforming how insurance is designed, delivered and perceived. In practical terms, this involves rethinking the value proposition, accessibility, trust and relevance of insurance for a diverse and evolving population.
By leveraging technology and adapting business models to address challenges like low penetration, fragmented regulation and climate risks, insurers must focus on value, accessibility, trust and relevance.
Key priorities include customer-centric innovation, financial inclusion, climate resilience, agricultural risk coverage, regulatory modernisation, education and data-driven decisions.
Reimagining insurance in Africa entails a fundamental transition from a traditional system that frequently excludes a significant portion of the population to a digitally enabled, inclusive, affordable and trust-centric model. This process involves engaging with individuals in their own contexts, comprehending their unique circumstances and developing solutions that genuinely protect and empower them.
These efforts support economic resilience, social protection, and sustainable growth across Africa.
MC: It is the first time the annual conference is focusing on Africa. What are you trying to achieve?
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CC: This year we rebranded the Insurance Institute of Zimbabwe (IIZ) Annual Conference to Southern Africa Insurance Indaba. Focusing on Africa for the first time at the Southern African Insurance Indaba marks a transformative shift in perspective — one that recognises the interconnectedness, shared challenges and immense potential across the continent’s insurance markets.
The conference’s rebranding transcends mere symbolism; it constitutes a compelling call to action. This initiative urges a reimagining of the insurance landscape, not solely for Zimbabwe or Southern Africa but for the entire African continent.
It involves redesigning systems to resonate with Africa’s unique realities, effectively serve its populace, and unlock its considerable potential. The Insurance Institute of Zimbabwe (IIZ) has actively engaged in the African market by facilitating professional examinations that range from a certificate of proficiency to an insurance fellowship, in collaboration with local insurance bodies across various nations.
This rebranding embodies inclusivity and illustrates that the IIZ’s commitment extends beyond Zimbabwe, encompassing the broader African context.
MC: How are you aligning your programmes to achieve a sense of oneness for the African Insurance sector?
CC: Fostering unity within the African insurance sector requires intentional collaboration, a shared vision, and inclusive platforms that engage diverse stakeholders across the continent. At this year’s Southern African Insurance Indaba, our programmes have been meticulously crafted to promote unity, enhance regional integration, and facilitate collective advancement.
We have curated a distinguished speaker line-up and participant list that reflects the diversity of Africa’s insurance markets, incorporating industry leaders from East, West, Central and North Africa, as well as representatives from regional bodies such as the Organisation of Eastern and Southern Africa Insurers (OESAI), the West African Insurance Companies Association (FANAF), and the African Insurance Organisation (AIO).
Additionally, we have included perspectives from regulators, InsurTechs, reinsurers and policymakers. This approach ensures that our discussions are comprehensive and inclusive, effectively highlighting both shared opportunities and region-specific challenges.
MC: What else should we expect?
CC: The sessions at the conference will extend beyond national or regional concerns to address Africa-wide themes, including climate risk and agricultural insurance, digital transformation and the growth of insurtech, financial inclusion and micro-insurance, as well as regulatory harmonisation and cross-border underwriting.
By examining these collective challenges, we foster an environment conducive to collaborative problem-solving and knowledge exchange. We are proactively engaging with key entities such as the African Insurance Organisation (AIO), the Organisation of Eastern and Southern Africa Insurers (OESAI), the African Reinsurance Corporation, African Risk Capacity (ARC), the Insurance Institute of South Africa, the Insurance Training College of Uganda and policy influencers involved in the African Continental Free Trade Area (AfCFTA) among others.
These strategic partnerships enable us to align our discussions and programmatic initiatives with broader continental frameworks, thereby promoting policy coherence and market integration.
MC: How can insurance truly unlock economic potential in Africa — beyond simply managing risk?
CC: The pivotal factor that could transform insurance from a basic service into a catalyst for development is how it operates.
In the context of Africa, unlocking economic potential extends beyond merely processing claims; it encompasses leveraging the industry’s capacity to accumulate capital, facilitate access to credit, and mitigate risks associated with critical investments.
While insurance in Africa has traditionally been perceived primarily as a mechanism for risk management, it is more significant contribution lies in fostering economic growth, enhancing financial inclusion, and promoting sustainable development.
For the African continent to realise its full economic potential, the insurance sector must play a strategic role across industries.
MC: What role do you see for regional cooperation in strengthening insurance resilience across Southern Africa and Zimbabwe?
CC: Regional cooperation is not merely advantageous; it is indispensable for establishing a stronger, more resilient insurance sector across Southern Africa and Zimbabwe. In an increasingly interconnected global landscape facing common risks, including climate disruptions, pandemics and cyber threats, no nation can afford to function in isolation. Such cooperation is critical for enhancing insurance resilience across the region.
The interconnected nature of hazards, particularly those related to climate change, economic variability and financial market dynamics, necessitates a cohesive regional approach. This transition transforms the insurance industry from a disparate collection of small and vulnerable national markets into a unified, robust, and highly competitive bloc.
For Zimbabwe and Southern Africa, regional cooperation serves as an intrinsic insurance policy for the industry itself. It acts as a mechanism that amplifies capital, streamlines cross-border operations, democratises specialised knowledge, and cultivates the collective capacity required to address the complex, large-scale risks that characterise the region.
MC: What role are you playing to ensure that insurers are active in supporting SMEs, agriculture and climate-vulnerable communities, all vital to Africa’s growth?
CC: As the host and organising entity of the Southern African Insurance Indaba, the Insurance Institute of Zimbabwe (IIZ) plays a critical and multifaceted role within the industry. Our influence is primarily exercised through education, advocacy, and convening key stakeholders to focus on these essential sectors. A significant emphasis is placed on professional training and continuous development (the skills role).
The institute is dedicated to ensuring that the next generation of insurance professionals is adequately prepared to underwrite and service these complex and development-critical sectors.
IIZ provides Specialised Education by integrating modules on Micro-insurance, Agricultural Index Insurance and Climate Risk Finance into our professional qualification curriculum, which includes certificates diplomas and advanced diplomas.
In response to the evolving landscape and the need to remain professionally relevant in addressing emerging risks, we have expanded our offerings to include advanced diplomas in general insurance, life and pensions management, reinsurance management, risk management, and agriculture and climate risk insurance.
This comprehensive curriculum ensures graduates are well-versed in the unique risk profiles and product design requirements of smallholder farmers and small- and medium-sized enterprises (SMEs). IIZ leverages its platform to facilitate dialogue and coordinate action among industry stakeholders and regulators.
The Southern African Insurance Indaba serves as the principal vehicle for this initiative. By dedicating the conference theme to ‘Reimagining Insurance’ and placing a pronounced focus on Africa, we encourage participants — including chief executive officers, regulators, and reinsurers — to prioritise solutions that promote financial inclusion, agriculture and climate resilience.
The sessions are designed to yield actionable commitments rather than mere theoretical discourse.
