“Distinguished executives and industry leaders, Ajudicators, Finalists and participants in the ICZ Research Competition, Ladies and gentlemen, all protocols observed.”

“It is both an honour and a pleasure to join you today as Guest of Honour at this prestigious research awards ceremony hosted by the Insurance Council of
Zimbabwe- a celebration not only of academic excellence, but of forward-thinking leadership in our insurance industry. Let me begin by extending my heartfelt congratulations to all the finalists, and commend ICZ for this visionary initiative to promote research, innovation, and dialogue around the future of insurance in
Zimbabwe. This ceremony is not just an award event; it is a testament to ICZ’s commitment to positioning Zimbabwe’s insurance sector at the forefront of the global digital transformation. IPEC lauds this proactive stance, as it aligns perfectly with our shared mission to future-proof the industry through innovation, collaboration, and regulatory agility.”

“The research presented today underscores a pivotal truth: AI and machine learning are not mere buzzwords but transformative tools reshaping insurance operations. From claims processing automation to dynamic risk pricing and fraud detection, these technologies are driving efficiency Reducing operational costs by up to 30% in early-adopter markets according to McKinsey, 2023 inclusivity: Enabling microinsurance products tailored to informal sectors via mobile platforms and resilience: enhancing climate-risk modelling for agriculture insurance – a critical need for Zimbabwe.”

“But let us be clear: disruption is inevitable. The question is whether we will lead it or react to it. In a world where digital innovation is redefining risk, behavior, and value chains, it is vital that we invest not just in technology, but in the intellectual infrastructure that will guide its application. This research platform represents a
critical step in shaping an industry that is agile, inclusive, and resilient.”

“As a regulator, our goal is to guide innovation responsibly. We recognise that the regulatory environment must evolve in step with the technologies shaping our
industry. IPEC’s introduction of regulatory sandboxes reflects our deliberate shift from being gatekeepers to enablers of innovation. These sandboxes allow insurers
to test AI-driven products in controlled environments, ensuring consumer protection without stifling progress. Today’s research findings must now feed into three strategic priorities.

1. Policy Frameworks: Developing AI governance guidelines for transparency and ethics.
2. Capacity Building: Upskill regulators and insurers to audit algorithmic decision-making.
3. Collaborative Pilots: Partnering with ICZ to implement scalable AI solutions, starting with high-impact areas like fraud prevention.”*

“As we celebrate the winning papers and innovative ideas that have emerged through this competition, I encourage all stakeholders—regulators, insurers, technologists, and researchers—to leverage these insights to enhance product development, operational efficiency, and policy formulation.
Let this not be a one-off event, but a launchpad for ongoing dialogue, collaboration, and pilot implementations—be it in usage-based insurance, climate risk modelling, or mobile microinsurance platforms driven by AI. Ladies and gentlemen, the future of Zimbabwe’s insurance industry will not be built on legacy alone. It will be shaped by bold decisions, evidence-based strategies, and the courage to adapt. IPEC remains committed to working with the industry, through ICZ and other
platforms, to support the evolution of an insurance ecosystem that is digitally empowered, ESG-aligned, and prepared for the risks of tomorrow.
To the finalists—congratulations again. Your work is not only commendable, it is groundbreaking.”

“In conclusion, let us celebrate tonight not just as an endpoint but as the launchpad for Zimbabwe’s insurance renaissance. IPEC stands ready to support ICZ and all stakeholders in this journey. Together, we can position Zimbabwe as a beacon of innovation-led resilience in Africa’s insurance landscape. Ladies and gentlemen, the future of insurance in Zimbabwe will be defined not only by how fast we adopt new technologies, but by how thoughtfully we align them with the needs of our people, the sustainability of our institutions, and the integrity of our financial system.”

“I thank you all, and I look forward to the presentations and the exciting conversations that will follow.”