AI revolution set to transform Zambia’s insurance industry”

….as automation, innovation and resilience is at the heart of Livingstone conference

By BUUMBA CHIMBULU in Livingstone
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RTIFICIAL Intelligence (AI) dominated discussions at this year’s annual insurance conference, with Finance and National Planning Minister Situmbeko Musokotwane pledging continued Government support through reforms aimed at building a resilient insurance sector.
The annual insurance conference, opened yesterday in Livingstone under the theme “Navigating a New Era – Automation, AI and Market Uncertainty,” brought together stakeholders to explore how emerging technologies were reshaping the industry.
Insurers Association of Zambia (IAZ) Executive Director Nkaka Mwashika described AI as a “powerful tool” capable of transforming the way insurance operates, from underwriting to claims management and customer engagement.
IAZ President Irene Muyenga said the insurance sector is witnessing a strategic shift, driven by automation and AI that promises to improve operational efficiency and client service.
“These technologies are not aspirational – they are foundational to building future-ready, resilient insurance institutions,” Ms Muyenga said.
“AI-powered analytics are already driving risk modelling, fraud detection and real-time customer engagement, while automation is streamlining workflows and minimising human error.”
However, Ms Muyenga warned that technological advances also demand stronger governance and collaboration, noting challenges such as a fragmented market, inconsistent policy interpretation, and adapting international standards to local conditions.Pension and Insurance Authority (PIA) Board Chairperson Peter Banda echoed these sentiments, highlighting the need for fairness, transparency and robust data privacy as AI becomes more central to the industry.
In his speech read by Permanent Secretary Mulele Mulele, Dr Musokotwane emphasised that insurance could not operate in isolation from global uncertainties, including geopolitical tensions, climate risks, and economic shocks.
“Automation and AI are reshaping how we approach underwriting, claims processing, and customer engagement. In this era of volatility, agility is essential,” he said.
Dr Musokotwane reaffirmed Government’s commitment to providing the necessary regulatory framework and policy support to ensure the insurance sector thrives while adapting to technological innovation and emerging risks.