Our Story

About Us

About the Insurance Council of Zimbabwe

Delivering unique and valuable outcomes to stakeholders since 1963 through collaborative effort and a unified voice is our business at the Insurance Council of Zimbabwe.

As a representative of insurers and reinsurers in Zimbabwe, our advocacy and administrative activities are driven by the need to foster and maintain a well-organized and sustainable non-life insurance industry banking on good governance, reputation and trust.

The non-life insurance sector is a key pillar within the financial services sector and a contributor to national trade, economic and social development through the provision of risk management and insurance for assets and economic activities.

To ensure industry operations and service delivery at an optimum level, we are, as the Insurance Council of Zimbabwe, passionately committed to protecting, promoting and advancing of the common interests of our members and stakeholders through advocacy and engagement initiatives.

Our focused advocacy activities extensively cover legislative, national policy, insurance regulatory and technical matters as well as industry service delivery standards.

Serving an informed and empowered consumer is a must.  To ensure the necessary stakeholder appreciation of risk management services and insurance products offered by our members and the related benefits, we prioritie our mandate to educate and raising public awareness as the Insurance Council of Zimbabwe as well as in collaboration with the stakeholders who are critical to the insurance value chain.

As part of the inclusive agenda under the Zimbabwe National Development Strategy 1, the Insurance Council of Zimbabwe is working with relevant Ministries and the Insurance and Pensions Commission to support climate resilient initiatives mainly for smallholder farmers.

Collective capacity in the industry enables provision of cover for special risks. Through our inhouse expertise, we administer the Special Risks Insurance Pools on behalf of our members. The pools that provide local and regional cover include the Motor Insurance Pool and the COMESA Yellow Card Scheme which are third party motor insurance covers for foreign registered vehicles entering or transiting through Zimbabwe. 

We also administer the Special Risk Insurance Consortium which houses the Professional Indemnity polices for security firms and the statutory Public Passenger Liability cover for the public service vehicles.

What We're About

Our Vision & Mission

To be a professional, well organized and ethical non-life insurance industry reputed and trusted by stakeholders based on delivery of unique value.

We shall be a self-disciplining ethical industry that fosters the protection, promotion, cooperation & advancement of the common interests of its members & stakeholders.

Insurance Council of Zimbabwe

Who We Are

In the administration of our duties, we collaborate closely with stakeholders that include among others, the Zimbabwe Republic Police for compliance enforcement on statutory insurance requirements, the Traffic Safety Council and Public Transport Operator Organizations on promotion of safe and responsible road usage as well as on insurance compensation for road traffic accident victims, the Civil Protection Unit on national disaster responsiveness

We believe in enhancing value proposition to our members and interested stakeholders as such, the Insurance Council of Zimbabwe operates service bureaus which offer auxiliary services that include the Fire Prevention Inspection Bureau which provides risk surveys, inspection and commissioning services for fire prevention systems and installation designs for government, industrial, commercial and residential buildings. Insurers are losing out to fraud. To counter the challenge, the Insurance Council of Zimbabwe established the Zimbabwe Insurance Crimes Bureau, the second such establishment in Africa after the South Africa Insurance Crime Bureau. The Bureau identifies and investigates insurance fraud and industry crimes for prosecutions and recoveries.

We find nothing more gratifying than operating our vibrant corporate social responsibility programmes that have long-term footprints within the benefiting communities. To date, ICZ has touched many hearts by implementing national disaster response and relief initiatives as well as assisting road accident victims and disadvantaged members of society.

At the Insurance Council of Zimbabwe, we unlock greater value and growth from  combined expertise, strength and passion. We stand committed to excellence and high levels of corporate governance culture in  executing all our  advocacy activities, engagements and collaborations  with our valued stakeholders. ICZ, the voice of short-term insurers and reinsurers in Zimbabwe.

Man shaking hands with insurance agent

Our Purpose

To protect, promote and advance the common interests of underwriters of all classes of non-life insurance business, including the taking of such concerted measurers as may be deemed expedient whenever the business of the Members of the Council may be affected by the action or proposed action of any authority.

To promote coherence and co-operation between its members on all matters of mutual interest and to provide machinery for the examination and reconciliation of any differences.

To do all things as may in the opinion of the Executive Committee be necessary, proper or advisable for the general advancement of non-life insurance business or which may be necessary for or incidental or conducive to the attainment of any of the objects of the Council.

Our Commitment

Passion for Excellence

Grounded

We shall be a self-disciplining industry grounded on ethical cultures and trusted by customers to meet our obligations fairly and equitably in terms of the ICZ Code of Conduct and Practice.

Law Abiding

We shall abide by the laws of the land including public protection acts such as, but not limited to, the Data Protection Acts and Anti Money Laundering Acts.

Respect

We shall conduct all our affairs with members, insuring public and stakeholders with utmost good faith, respect, and integrity.

Cooperation

We shall foster sound industry cooperation while enhancing responsible, fair and rational competition among our member companies.

Insuring Public

We shall foster cordial cooperation with insurance intermediaries in furtherance of the interests of the insuring public.

Collaboration

We shall collaborate with the relevant public authorities in the interests of ICZ members and the insuring public.

Corporate Culture

We shall foster a corporate culture that promotes ethical practices and good corporate citizenship.

ICZ Members

Short-Term Insurers

Reinsurers

The Insurance Council (ICZ) of Zimbabwe is a voluntary association of short-term insurers and reinsurers in Zimbabwe. It is governed by a constitution and a code of conduct. All its members are duly registered by the Insurance and Pensions Commission of Zimbabwe.

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