By Gandy T. Gandidzanwa and Itai Mukadira
There are few other sectors of any economy with so much power to simultaneously impact both the fortunes of the economy and the well-being of her people. The pension fund industry stands up tall on that measure – and yet in many instances it is mostly only in potential than in realisation. The stretch between what is possible and what is actually achieved
How data science can revolutionise businesses in Zimbabwe
TINAYE MAKONI
I had the honour of speaking at a data science meeting at Harare Institute of Technology towards the end of last year.
I discussed how Claxon Actuaries is using data science to address issues in the financial services sector, particularly in the insurance industry.
Following my presentation, a brief interview with Business Times
Technology AND Innovation IN THE Insurance Sector
Eben Mabunda
Innovation on the back of new technologies has proven to be a key driver of change in the provision of financial services, and this has resulted in unprecedented efficiencies despite the doubts associated with the shifts.
Rapid transformations brought about by Artificial intelligence, as evidenced by the the buzzword “Chat GPT”
Agriculture insurance way to go
HARARE, AGRICULTURE insurance plays a significant role in creating value for the Zimbabwean economy and society.
As a largely agricultural-based nation, Zimbabwe heavily depends on its agricultural sector for food production, employment generation, and export earnings.
However, farming activities are often exposed to various risks such as unpredictable weather patterns,
Ecocash’s InsurTech expands its footprint
Staff Writer
HARARE, Ecocash Holdings says the net premium written for its InsurTech business in the quarter to November 30, 2023, increased by 116% compared to the prior period as the business also expanded its reach in rural areas.
In a trading update, the company said the business unit focused on enhancing its overall customer experience.
FMHL shareholders further notified of the pending mandatory offer
Staff Writer
Harare, CBZ Holdings (CBZH) says it is still determining a fair price to complete the transaction in which it is in the process of acquiring a 36,35% stake in First Mutual Holdings (FMHL).
In a cautionary statement, group chief governance officer Rumbidzai Jakanani said CBZH is still in the
Unpaid non-resident benefits continue to be a challenge: Ipec
Staff Writer
The Insurance and Pensions Commission (Ipec) says the unpaid benefits to non-resident pensioners cumulatively stood at ZWl$3,2 billion (US$600000) as at Q3 2023.
The amount owed to about 3055 non-resident pensioners increased by 1098% in nominal terms during the period with the number on pensioners having gone up to 3115.
Over
First Mutual Holdings cautions shareholders
Staff Writer
First Mutual Holdings (FMHL) says corrective measures being instituted on its subsidiary First Mutual Life as part of the ongoing forensic audit by the Insurance and Pensions Commission (IPEC) will have a material impact on the price of the company’s shares.
On April 5, 2022, stakeholders were advised that the Insurance and Pensions Commission
Zimre Holdings and First Mutual Holdings emerge as the top ZSE performers in 2023
Staff writer
Insurance companies Zimre Holdings Limited (ZHL) and First Mutual Holdings Limited (FML) emerged as the top performers on the Zimbabwe Stock Exchange in 2023, recording a US$ annual return of 414% and 358%, respectively.
This is ahead of the 21% average return for the stock market
FBC Insurance MD elected WIZ president
Staff Writer
The Women in Insurance in Zimbabwe (WIZ) has elected FBC Insurance managing director Alice Shumba as its president, a position she will hold for the next two years.
Shumba, who is taking over from Ruth Ncube, will be deputized by Emeritus Reinsurance head-reassurance and underwriting (Life and Health), Clementine Chinyuku.
Shumba,