29/05/2024
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BestLife Insurance Launches, Hopes To Leverage IT To Change Life Insurance Landscape In Zambia

BestLife Insurance has today announced the launch of its operations in Zambia with a pledge to offer a unique and tailored approach to insurance in the country.

The company which was awarded a license by the Pensions and Insurance Authority to offer Long term insurance services in December last year provides affordable, simple, convenient and personalised life insurance products.

Finance and National Planning Minister Hon. Dr Situmbeko Musokotwane, represented by the Permanent Secretary of Economic Management and Finance Mr Danies Chisenda, officiated at the event and commended BestLife Insurance for launching its operations, describing the development as a sign of renewed investor confidence in the Zambian economy.

The breakfast launch event held at The Taj Pamodzi Hotel, Lusaka also witnessed by industry leaders, regulators and members of the media marks a significant milestone in the growth of the Zambian insurance industry.

BestLife offers Group, Credit, Hospital and Group Funeral cover including wealth and investment products, and with a focus on individualised customer service.

BestLife’s policies are underwritten by Zepre/PTA Reinsurance as the lead Reinsurer and its Reinsurance treaty is also supported by Africa Re, Kenya Re, Zambian Re, Klapton Re and Emeritus Re.

The company has also developed an efficient cloud-native onboarding platform, designed with flexibility and ease of integration in mind and clients can expect seamless policy issuance and administration tailored to their needs.

Christabel Michel, CEO of BestLife, said the firm will provide an unmatched commitment to meeting customers’ needs in line with its mission to make a difference in the lives of its clients.

“Our goal is to help transform access to life insurance in Zambia through the use of innovative approaches and digital solutions and thereby increasing insurance penetration. Our mission is to help you live your best life,” said Ms. Michel.

BestLife Insurance Board Chairperson Geoffrey Sakulanda echoed this commitment to providing world-class service with strict adherence to good corporate governance tenets.

“We’re incredibly excited about the long-term prospects and new business opportunities that lie ahead for BestLife Insurance and our clients,” Mr Sakulanda said.

“Led by a team of experienced insurance and banking professionals, we can assure our clients that BestLife will offer seamless world-class life insurance services locally. At the end of the day, our top priority is to ensure our clients receive personalised, world-class life insurance services in Zambia,” Mr Sakulanda said.

At the event, Executive Director, BestLife Insurance James Koni showcased the firm’s IT platforms that will allow for an end-to-end digital experience and pledged continued innovation for customer satisfaction.

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