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Following the diagnostic study conducted by Cenfri (South Africa) in 2009, a multi-stakeholder technical advisory group was constituted to look at the development of microinsurance with support from FinMark Trust Zambia and ILO. The technical advisory group has broad representation from the association of insurers as well as microfinance providers, government, the Pensions and Insurance Authority and donors. The draft regulatory framework being developed by the working group focuses primarily on product features, distribution space (encouraging non tradition channels), consumer education and protection, training and accreditation and dealing with aspects of bundled products which are not supported in the conventional microinsurance models. The core of the framework lies in the themes of consumer protection and the code of conduct for microinsurance agents.

Microinsurance Development in Zambia