

There are signs that young people are becoming aware of the benefits of being insured and LNIG Hollard will be using their partnership with SesothoFusion star Sannere (Relebohile Monapathi) to inspire a new generation of young people in Lesotho to embrace insurance.

The insurance industry can drive sustainable and enduring socio-economic development in Africa if the sector can closely align its growth aspirations with the developmental needs of the markets in which it operates, says Arshad Gardee, Managing Executive for Life at Hollard International.

Hollard, a leading Pan-African insurer, is bucking traditional marketing trends by using unconventional methods to drive financial literacy and encourage insurance uptake in cyclone-prone Mozambique through relatable, yet simple and effective techniques that are rapidly gaining traction.

The low numbers of women in leadership positions in the insurance sector limits the pool of potential mentors who can guide young people who require career coaching and guidance to prepare them for leadership positions.

Ramping up financial literacy among underserved women will go a long way towards accelerating financial inclusion, which in turn will drive mass adoption of insurance solutions and unlock the immense economic potential of this marginalised market segment.

With Zambia having recently commemorated Farmer's Day and the contributions and work made by farmers in the agricultural sector in the country, Hollard has highlighted the importance of ensuring the sustainability of farming in the country, by providing adequate disaster risk financing mechanisms as a means to protect farmers against natural and man-made disasters.

The insurance industry in Africa is undergoing significant transformation, marked by evolving consumer needs, technological advancements, and shifting demographics.