Staff Writer
The Insurance and Pensions Commission (Ipec) has encouraged the industry to embrace and adapt to digital transformation, saying it is essential for the industry.
Speaking during the ongoing Insurance Institute of Zimbabwe Winter School in Kariba, IPEC Director of Insurance and Microinsurance Sibongile Siwela said adapting to change was not optional.
Siwela said the sector was currently navigating significant shifts that are reshaping operational frameworks and customer engagement strategies.
“In this era of digital transformation, adapting to change is not optional. It is essential for the insurance industry. The sector is currently navigating significant shifts that are reshaping operational frameworks and customer engagement strategies.
“A prime example is the integration of mobile technology in Zimbabwe, where services like EcoCash and Omari – I make a disclaimer, I’m not advertising them –have fundamentally altered payment infrastructure. Insurance providers are harnessing these mobile solutions for both premium collection as well as claims management, thus facilitating more efficient client interactions,” she said.
Siwela added that in today’s fast-paced and evolving landscape, continuous learning is imperative for maintaining relevance, enhancing competitiveness, and achieving your personal fulfilment.
She said continuous learning not only promotes individual growth but also improves your career trajectories and increases your adaptability to emerging challenges and technologies.
“Ultimately, a commitment to lifelong learning is critical for fostering innovation, resilience, and a thriving society. The Insurance Institute is implementing a robust continuous professional development programme, encouraging all our members to register, log in, and check their learning hours,” she said.
Siwela further encouraged participants to go and probe deeper and see how the insurance industry can be more innovative so that it can develop and deliver relevant products to the community.
“As we embark on our professional journey, it is critical to articulate a precise vision of your objectives. Engage in thoughtful introspection regarding your career aspirations and the impact you wish to make within the insurance sector,” she said.
