RBZ pushes responsible AI adoption as digitalisation reshapes insurance industry

THE Reserve Bank of Zimbabwe (RBZ) is pushing for responsible adoption of artificial intelligence (AI) and stronger digital infrastructure in the financial services sector, as technology increasingly reshapes the banking and insurance industries.

RBZ director of banking supervision Philip Madamombe said digital innovation presented opportunities for insurers to widen access to financial products, improve service delivery and reduce transaction costs, but warned that it must be accompanied by strong consumer protection and institutional resilience.

Madamombe was presenting on behalf of RBZ deputy governor Jesimen Chipika at the 2026 Southern Africa Insurance Indaba in Victoria Falls.

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