ZIMBABWE is set to host the Organisation of Eastern and Southern Africa Insurers (OESAI) conference next week in Victoria Falls, as the country seeks to benefit from meetings, incentives, conferences and exhibitions tourism.
Local organisers are eager to leverage this event to rebrand Zimbabwe’s image and foster greater regional co-operation in the insurance sector.
Running under the theme: The Business of Insurance in Economic, Digital and Geopolitical Uncertainty, the 46th edition of the OESAI annual conference and annual general meeting is expected to be attended by over 500 delegates.
“This is a great opportunity for Zimbabwe to showcase to the region the capacity the country has in terms of insurance skills and capabilities as well as demystifying the perception they have about Zimbabwe,” local conference organising committee chairperson Solomon Mavuka said.
“The venue itself, Victoria Falls, is a gem which can spruce up the country’s image. We are expecting over 500 delegates. This is a great opportunity for the insurance industry to leverage on the networking opportunities since more than 35 countries will be represented.”
The conference comes at a time when Africa’s insurance industry is facing challenges chief among them, the loss of revenue to other countries as insurers and reinsurers declare incapacitation to underwrite some risks.
The continent has been losing billions of United States dollars to the international market through policy cover externalisation, with industry experts arguing that the continent was paying the international bill.
Higher insurance and reinsurance premiums, coupled with tougher terms and conditions, have resulted in Africa’s contribution to climate risk at a measly 3,8%.
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To help solve these challenges, there have been concerted calls for the continent to ensure collaboration of all stakeholders, including governments with experts advocating Africa to combine its balance sheet as a key solution to policy cover externalisation.
Mavuka said the conference will also serve as a platform on which experts can network, exchange ideas, experiences and work together to find solutions for current issues that are affecting the insurance industry on the continent and beyond.
“This year, we have assembled a group of talented experts who will provide insights on the latest trends, technologies and best practices in the insurance industry,” he said.
“The conference will also provide opportunities for delegates to network, exchange ideas, experiences and work together to find solutions for current issues that are affecting the insurance industry on the continent and beyond.”
OESAI is a member-based insurance organisation, headquartered in Nairobi, Kenya whose role is to promote the business of (re)insurance across the region, in the areas of advocacy, research, technical and leadership skills development as well as in promoting best practice within the industry.
