By BUUMBA CHIMBULUA NEGATIVE perception about the insurance industry and several myths have contributed to the low uptake of insurance products currently at five percent, a situation which needs to urgently change.This was observed by the players in the insurance industry and policy makers in Lusaka at the on-going annual insurance conference where they have gathered to find solutions on how to create a positive image about the industry in the country.This year’s annual conference is being celebrated under the theme “Enhancing the role of insurance to support economic growth.”This perception needs to change, according to the Insurers Association of Zambia (IAZ) Executive Director, Nkaka Mwashika.Mr Mwashika emphasised the need to dispel several myths about insurance, if people’s perception was going to change.“According to the 2020 finscope survey, the majority of people who do not use insurance either do not understand how it works, think it is too expensive, or feel do not need it. This […]
Insurance myths hinder growth
