Professional Insurance to earn K350m in gross premiums


By Nation Reporter

THE Professional Insurance Corporation of Zambia (PICZ) has embarked on innovative income and service delivery streams which would boost the gross premium for 2016 to K350 million, says managing director Geoffrey Chirwa.

Mr Chirwa said the insurance certificates which motorists were compelled to display on their vehicles was an added advantage for the corporation to raise income.

He said gross written premium for 2016 for was projected to increase by K37 million, from K313 million in 2015 to K350 million.

“In terms of our projected revenue for 2016, we are basically looking at a gross written premium of K350 million from the K313 million that we manage in 2015.

“We basically intend to achieve that through a number of innovative streams that we have come up with.

“We have come up with a new product which is a travel insurance which will help in adding to our income streams,” he said.

He said the corporation would also concentrate on bettering the service delivery for its clients and not only focusing on generating income.

“Other than that, we are also mindful of the fact that right now all motorists are compelled to display their insurance certificates on their motor vehicles so this is another income stream.

“It will help us not only in increasing our income base but also improve on our service delivery because what we are saying is that we should not only concentrate on increasing our income but also improve our service delivery,” he said.

Mr Chirwa said the corporation would consolidate products launched late in 2015 such as the ‘‘Muyende Bwino’’ in meeting the market demand for 2016.

“So for this year we will be consolidating the demands as well as understanding the unique market.

“The other interesting news is that this year we will be launching our corporate Facebook and Twitter pages for market interactions,” he said.

Categorized | Business

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