Zimbabwe's insurance watchdog helps companies create new products that protect customers better. The Insurance and Pensions Commission works with businesses to test fresh ideas before launching them nationwide. Officials piloted the Farmers Basket insurance program around Goromonzi before expanding coverage across the country. The regulator uses special testing areas called sandboxes where companies can try artificial intelligence tools safely. Mary Takavarasha from the commission says they want innovation but must keep customers safe.
The regulator watches new products closely to make sure people receive fair treatment and affordable prices. Companies cannot take advantage of customers even when using advanced technology like machine learning. The commission plans new rules for artificial intelligence systems that insurance firms want to use. Economist Terrence Mafu believes this balanced approach will help the industry grow without hurting consumers. Insurance Council chairman David Nyabadza says companies realize digital tools represent their future success and they need research to move forward together.
The regulator watches new products closely to make sure people receive fair treatment and affordable prices. Companies cannot take advantage of customers even when using advanced technology like machine learning. The commission plans new rules for artificial intelligence systems that insurance firms want to use. Economist Terrence Mafu believes this balanced approach will help the industry grow without hurting consumers. Insurance Council chairman David Nyabadza says companies realize digital tools represent their future success and they need research to move forward together.
