Insurance Professional Excellence awards launched

By Olayayi Jack

THE Insurance Institute of Zimbabwe (IIZ) recently hosted its highly anticipated Annual Dinner at the Rainbow Towers in Harare, bringing together leaders, professionals, and key stakeholders from across the country’s insurance sector.

The event, held under the theme ‘Fostering a Culture of Innovation’, was a celebration of the industry’s achievements over the past year and a forward-looking occasion for continued growth and transformation.

IIZ President Clementine Chinyuku opened the evening by extending a warm welcome to all attendees, including the distinguished guests such as Sibongile Siwela, representing Insurance and Pensions Commission commissioner Grace Muradzikwa, and IIZ General Manager, Davison Choeni.

Chinyuku expressed gratitude to Choeni and the entire IIZ team for their tireless efforts in organising the event, which has become a staple for the sector.

“We are incredibly grateful for the unwavering support from the industry, which has been crucial in making 2024 a successful year for IIZ,” she said.

“From the Fundraising Golf Tournament at the Country Club to the Winter School in Nyanga, the industry’s commitment to growth and development has been remarkable.”

The night also featured the inaugural Insurance Professional Excellence Awards, launched in partnership with Zimbabwe Independent.

The awards aim to honour individuals who exemplify leadership, professionalism, and innovation in the sector. With eight distinct categories, the awards celebrated IIZ-trained professionals and highlighted best practices across the industry.

In her address, Chinyuku emphasised the importance of fostering innovation in the face of rapid changes in the market.

“As we face continuous shifts, it is essential that we encourage a culture of experimentation, learning, and improvement,” she said.

“We have seen this innovation firsthand this year, particularly among our young professionals, whose passion and dedication are shaping the future of the industry.”

The evening was marked by a celebratory atmosphere as professionals were recognised for their outstanding contributions.

Chinyuku closed her remarks by urging the sector to “finish strong” in 2024, underscoring that sustained success is built not only on ambition but also on resilience.

She concluded with wishes for a Merry Christmas and a prosperous New Year.

A highlight of the evening was Muradzikwa’s address, read on her behalf by Siwela.

Muradzikwa praised the resilience of the sector, particularly in navigating challenges such as regulatory changes, technological advancements, and evolving consumer demands.

“Insurance is not just a financial safeguard; it is a promise to protect what matters most to people,” she said, echoing the sentiments of Chinyuku.

She also commended the sector’s embrace of digital transformation, which has enhanced customer service, risk management, and sustainability—creating a strong foundation for long-term success.

Muradzikwa also focused on the transformative potential of emerging technologies like artificial intelligence (AI) and machine learning.

“These tools are not merely supportive—they are revolutionising how we understand risk, engage with clients, and run our businesses,” she remarked.

By adopting these technologies, Muradzikwa believes the sector can unlock new opportunities for growth while remaining steadfast in its commitment to providing a safety net for clients.

Muradzikwa emphasised the broader responsibility of the insurance industry to go beyond financial performance.

“As we strive for growth and innovation, we must also remain dedicated to our communities. Supporting local charities, promoting financial literacy, and engaging in initiatives that uplift society are crucial aspects of our role as industry leaders,” she said.

The evening ended on a hopeful note, with Siwela expressing confidence in the industry’s ability to unite and face future challenges with purpose.

“The collective achievements in this room have the potential to lead the industry into a brighter future,” she concluded, urging continued innovation and community engagement as the sector moves into 2025.

The inaugural winners of the Insurance Professional Excellence Awards were also announced, recognising top professionals in various categories.

These were:

Life Professional Underwriter of the Year: Enias Nyaruwembu (FBC RE)

Short Term Professional Underwriter of the Year: Tatenda Nyamande (Nicoz Diamond)

Learning Professional of the Year: Susan Lukungwe

Marketer of the Year: Cynthia Marisamhuka

Short Term Claims Professional of the Year: Margaret Kanyande

Broker of the Year: Handricks Ngena

Distinguished Insurance Professional of the Year: Memory Chabgwera

As the IIZ looks to 2025, the 2024 Annual Dinner underscored the sector’s resilience and commitment to progress.

With innovation at its core, Zimbabwe’s insurance industry is poised to continue evolving, ensuring its vital role in the country’s economic development and social wellbeing.