By OLIVER SAMBOKO
ZSIC life managing director, Christabel Banda has been elected as new Insurers Association of Zambia (IAZ) President at the annual General meeting held through Zoom online platform.
Ms Banda takes the helm of the Association at the time when the Insurance sector has experienced a slight increase in penetration levels currently standing at 2.6 percent, the highest in over five years.
The AGM also elected Webster Chigwende as Association vice president, while past President of the Association, Paul Nkhoma, who is CEO of Hollard Insurance was co-opted onto the Board as per IAZ constitution.
And speaking in her acceptance speech, Ms Banda said the Insurance sector had immense potential to contribute to the growth of the economy especially in times of crisis when the world and the country was looking to the financial sector to provide a gateway for improving the economy.
She implored players the insurance industry to collaborate effectively in ensuring that the sector provided the much-needed financial inclusive products and services to the public.
Ms Banda also said the association would continue standing in solidarity with the Zambians, as the country continued battling with the COVID-19 pandemic.
She said the following the outbreak of COVID-19, Insurers and reinsurers were working towards greater use of online platforms for various business processes.
“We live in an age of with advanced Information and Communication Technology (ICT), and we believe that greater use of these platforms is important for the continued smooth running of the financial sector, and the insurance industry in particular,” she said.
Ms Banda pledged that IAZ was going to continue playing its role in the fight for the Health and economic wellbeing of the Zambians.