Zimbabwe’s insurance industry to suffer low product demand
Staff Reporter
ZIMBABWE’s insurance industry is expected to endure low demand for a broad range of insurance lines owing to a tough economic environment, a research report has revealed.
BMI Research, which is part of Fitch Solutions, in a report, Zimbabwe Insurance Report, (summary) said similar to other sectors of the country’s
FBC Insurance unveils instant third party insurance product Yako
Staff Reporter
HARARE – FBC Insurance has launched “Yako” an innovative, game changing and fully digital third party insurance service which is poised to change the face of insurance in the country.
The innovative and world-class service, which is now available on the market, allows vehicle owners to purchase a secure and affordable
IPEC seeks to restore confidence in insurance pensions industry
Staff Reporter
HARARE- GRACE Muradzikwa, the IPEC Commissioner, has said one of the commission’s 2020 strategic objective was to restore and build confidence in the insurance and pensions industry following loss of value by consumers.
She was speaking at a graduation ceremony for the 2019 class of the IPEC Journalism Mentorship
Life assurers flex muscles
PHIL MHLANGA
HARARE-ZIMBABWE’S funeral assurance companies find themselves in a precarious position following mounting threats from life assurance firms who are now writing 90% of funeral business in the country.
The strong presence of life assurers in the funeral market appear to be stoking the situation, making it difficult for dedicated funeral assurers to stay afloat
Poor underwriting methods threat to insurers
Staff writer
Poor underwriting methods have been identified as one of the threats to the survival of insurance companies and have serious hindrance to service delivery.
Delivering her keynote speech at the ongoing workshop hosted by Insurance Council of Zimbabwe (ICZ) and Association of Insurers and Reinsurers of Developing Countries, Elizabeth Wyns-Dogde,(
Arrear pension benefits rise 100% in Q3, 2019
Staff Writer
The Insurance and Pensions Commission (Ipec) says the arrear pension benefits have shot up 100% to $87, 07 million in Q3 2019 from $77,77 million in half year 20 19 while unclaimed benefit liabilities marginally declined $32,44 million in the comparable period.
In its Q3 pension’s industry report, Ipec said the increase in the arrear pension
Insurance brokers’ role being underplayed.
HARARE, Insurance service seekers haves over the years relied on insurance brokers for advice on insurance products and risks among others.However there has been an emergency of such services a banc assurance and insurance agents that are cutting the role of the brokers. In the past brokers have accused them of conditional selling of insurance saying
New IIZ president spells out vision
Staff Reporter
VIC Falls: The Institute of Insurance of Zimbabwe (IIZ) has elected Mapiye Chigorondondo as its new president at the just ended annual general meeting in Victoria Falls.
Chigorondondo who has over 26 years’ experience in the industry in the insurance industry takes over from Ushe Mungaraza who served the institute as president for two years.
His
Government reviewing insurance and pension industry- Finance minister
Noah Kupeta
HARARE, Government is working with the Insurance and Pension Commission (IPEC) to review the regulation of the insurance and pension industry in a bid to preserve the value of pension benefits and policy holders, a government official has said.
Presenting his 2019 Budget statement, Finance and Economic Development Minister