Insurance coverage remains limited across Malawi with fewer than five percent of citizens holding policies. Industry executives attribute this gap to economic concentration within cities while rural populations lack access to financial services. Ruben Kamanga Kawelele from the Insurance Institute of Malawi advocates for cooperative farming groups similar to successful Kenyan models. Government policy changes could help insurers reach agricultural communities more effectively. Rural residents currently face significant barriers when seeking coverage options.
Digital technology offers solutions for expanding market reach according to industry leaders. Rex Kadzongwe from Old Mutual Malawi emphasizes mobile platforms can eliminate travel requirements for policy purchases and claims processing. Telephone access enables remote transactions without visiting urban offices. Companies must adapt their service delivery methods to survive challenging market conditions. Professional development remains essential for addressing these operational changes.
Old Mutual committed six million kwacha to support the upcoming Insurance Institute conference. The October gathering at Sunbird Nkopola Lodge in Mangochi will focus on industry training initiatives.
Digital technology offers solutions for expanding market reach according to industry leaders. Rex Kadzongwe from Old Mutual Malawi emphasizes mobile platforms can eliminate travel requirements for policy purchases and claims processing. Telephone access enables remote transactions without visiting urban offices. Companies must adapt their service delivery methods to survive challenging market conditions. Professional development remains essential for addressing these operational changes.
Old Mutual committed six million kwacha to support the upcoming Insurance Institute conference. The October gathering at Sunbird Nkopola Lodge in Mangochi will focus on industry training initiatives.
