Q FM Africa's Modern Radio
Professional Insurance Managing Director and Chief Executive Officer Geoffrey Chirwa
Professional Insurance Corporation Zambia (PICZ) has projected to increase its gross revenue from K313 million last year to about K350 million this year, through its newly introduced micro insurance product and implementation of statutory instrument (SI) compelling motorists to display insurance discs.
PICZ Managing Director and Chief Executive Officer Geoffrey Chirwa says that last year the company introduced ‘Muende Bwino’ product targeting the low income segment of the population to mitigate the impact of road traffic accidents in Zambia, as it covers medical and bodily injury and death.
Mr. Chirwa says the product will positively contribute to the increase in the firm’s gross written premium.
He says over 100,000 more will be insured by the end of this year.
He says the PICZ project for gross written premium is expected to grow to K350 million this year from K313 million last year.