Priorities
What we are working on
Insurance penetration
Zambia’s insurance penetration was about 1.2 percent of GDP in 2022, against an African average of roughly 2.4 percent in the same year. IBAZ has called for policy reform to widen uptake. Low penetration is not primarily a pricing problem. It is a problem of distribution and of trust, and brokers sit at the point where both get solved.
Regulatory reform
We engage on the implementation of the Insurance Act No. 38 of 2021 and on subsidiary legislation as it is drafted, so that rules affecting brokers are workable in practice.
SME risk protection
Small and medium enterprises carry most of Zambia’s private sector employment and almost none of its insurance. We push for products, distribution and rules that make cover realistic for firms of that size.
Financial inclusion
Microinsurance and mobile distribution reach people traditional channels never did. We work on the standards that keep those products honest.
AfCFTA and trade in services
Through the Ministry of Commerce, Trade and Industry, IBAZ contributes to Zambia’s position on trade in services and export credit insurance under the African Continental Free Trade Area.
Consumer protection
Rules on disclosure, claims handling and client money decide whether the public trusts insurance at all. We support the ones that work and say so when a proposal will not.
Where we sit
Representation
IBAZ holds a seat on the following boards and committees.
Pensions and Insurance Authority
The regulator of the pensions and insurance industry in Zambia.
Technical Advisory Group
Technical input on industry matters affecting brokers and the insuring public.
Ministry of Finance and National Planning
Engagement on financial sector policy and legislation.
Ministry of Commerce, Trade and Industry
AfCFTA trade in services and export credit insurance.
Zambia Chamber of Commerce and Industry
The voice of business in Zambia, where insurance meets the wider private sector.
Zambia Pensions and Insurance College Trust
Qualifications and training for people entering the profession.
On the record
Submissions and position papers
IBAZ publishes the submissions it makes to government and the regulator. Publishing this record is the strongest credibility signal a trade association has, and it is what journalists, civil servants and member firms actually cite.
Have a policy matter for IBAZ?
Member firms, regulators and journalists can reach the Secretariat directly.