Exclusive: Shifting from traditional insurance models
Tinashe Peter Masvaya, CEO, General Alliance Insurance Zambia Ltd.
The AIM editor, Andrew Chinoperekwei caught up with a leader who has contributed greatly to the growth and development of organizations within the African Insurance industry. An industry focused interview with Tinashe Masvaya, the CEO of General Alliance Insurance Zambia focused on unpacking his leadership approach and philosophy in an evolving insurance landscape, the transformative power of designing client centric solutions and the future of insurance in Zambia.
AIM: The industry is in a new era shaped by emerging technologies, changing customer expectations, regulatory developments, climate change and geo-political risks – what kind of leadership approach is needed now to thrive and lead a sustainable insurance organization?
TM: The old ‘command-and-control’ leadership model will not carry an African insurer very far anymore. The environment that you’re describing is fluid, too data-driven, and too inter-connected. What is needed now is a blend of adaptive, purpose-driven, and tech-enabled leadership, obviously with a strong local lens.
Leaders nowadays must operate like navigators, not just planners. Climate volatility, regulatory shifts, and geopolitical risks mean strategies can’t be rigid. We need to embrace experimentation (pilot products, iterate fast), decentralize decision-making closer to markets, and build organizations that can pivot quickly.
The African insurance markets are still largely under-penetrated. Growth will come from relevance and trust, not just scale. Insurers must design products for the informal sectors and low-income populations, use mobile platforms and embedded insurance models, focus on financial inclusion, not just profitability.
Leaders must deeply understand the real customer context and not just rely on actuarial models.
AIM: Based on your experience as CEO of General Alliance Insurance – what is the transformative power of designing client-centered solutions?
TM: Designing truly client-centered solutions is no longer a “nice to have” in insurance, but is one of those critical levers that can fundamentally reshape growth, trust, and long-term relevance for an insurance company. From a CEO’s lens in a market like Zambia, its transformative power shows up in several concrete ways:
Shifts insurance from a product to a service experience: traditionally, insurance is sold as a contract. Client-centered design flips that into an ongoing relationship. Instead of asking “What policy can we sell?”, the question becomes “What problem is the client trying to solve?”. That shift alone changes product design, claims processes, and customer engagement as a whole.
Drives inclusion and market expansion: in many African markets, a large portion of the population remains uninsured, not because they don’t need insurance, but because products don’t fit their requirements. When solutions are designed around real client contexts (informal businesses, irregular incomes, mobile-first behavior), you unlock entirely new segments.
Client-centered innovation is how you move from low penetration to mass relevance.
Builds trust in a low-trust industry: insurance in Africa struggles with trust, mainly due to opaque terms and painful claims experiences. When solutions are designed around clarity, speed, and fairness, especially at claims stage, you convert skeptics into advocates.
Trust is not built through marketing. It is built through consistently meeting client expectations at their most vulnerable moments.
Accelerates digital transformation: technology on its own doesn’t transform an insurer. But when guided by client needs, it then becomes powerful. The following are a few examples:
- Mobile claims submission,
- Instant policy issuance,
- Usage-based or on-demand cover.
These are not just digital features but responses to client pain points. That alignment is what makes digital investments actually deliver ROI.
Improves risk understanding and pricing accuracy: closer engagement with clients leads to better data. This improves underwriting and enables more tailored pricing. Over time, this reduces adverse selection and improves portfolio quality.
Strengthens resilience and sustainability: client-centered insurers are better positioned to respond to emerging risks like climate change or health shocks because they are already listening, adapting, and iterating with their clients.
This makes the organization more agile and future-ready.
In essence, the transformative power lies in moving from “selling policies” to “solving real-life problems at scale.” For an insurer in Zambia or across Africa, this is not just a competitive advantage, it’s the pathway to relevance, growth, and social impact.
AIM: From an executive perspective – briefly tell us about the future of insurance in Zambia?
TM: The future of insurance in Zambia is promising, but highly transitional. It will be shaped less by traditional models, but more by how quickly the industry adapts to the structural shifts.
Growth is real, but the industry is still underpenetrated. The insurance sector is expanding steadily, gross written premiums are rising and assets have grown significantly, reflecting increasing demand and economic contribution. However, insurance penetration remains low with estimates putting at less than 3%, meaning the biggest opportunity is still ahead, especially in the retail and SME segments.
Digital transformation will define winners. The future of insurance is decisively digital-first. Government and regulators are actively pushing for digital platforms to improve access, efficiency, and trust. Expect growth in the following segments:
- Mobile-based insurance distribution,
- Insurtech partnerships,
- Data-driven underwriting and claims.
Executives who embrace technology will scale faster and reach previously underserved markets.
Financial inclusion and microinsurance will be game changers. There is a strong shift toward inclusive insurance models, particularly microinsurance targeting low-income populations and informal sectors. This is not just social impact but it’s the largest untapped market in Zambia.
Regulation will become more enabling, but stricter on conduct. Regulators are balancing innovation (e.g., Regulatory Sandboxes) with stronger consumer protection and transparency. Therefore, future success will depend on trust, compliance and customer-centric product design.
New risk landscapes will reshape products. Emerging risks will drive product innovation, including; climate-related insurance (agriculture, disaster risk), cyber insurance, health and parametric solutions. These will move insurers from “payers of claims” to partners in resilience.
Regional expansion and scale will matter. There is increasing pressure for Zambian insurers and reinsurers to expand beyond borders, signaling a shift towards regional competitiveness and consolidation.
The future of insurance in Zambia will not be driven by size alone, but by agility, innovation, and relevance. The winning insurers will be those that; leverage technology, design client-centric and affordable products, build trust at scale, and expand beyond traditional markets. In short, Zambia’s insurance industry is moving from a low-penetration, traditional market to a digitally enabled, inclusive, and innovation-led ecosystem.
AIM: Words of wisdom to young practitioners…
TM: If you’re starting out in insurance, you’re stepping into an industry that’s far more than just policies and premiums. It is about trust, resilience, and long-term impact. A few grounded principles that I believe can carry you far in the industry:
Build trust before you sell anything: insurance is invisible until it’s needed. Your credibility is your strongest asset. Be honest, transparent, and consistent. Clients remember how you made them feel long after they have forgotten about the product details.
Understand risk in the local context: Africa has unique dynamics; informal economies, climate vulnerabilities, and evolving regulatory frameworks. Don’t just rely on textbooks; learn from the market, from SMEs, farmers, and everyday people. That’s where real insights lie.
Stay curious about technology: digital transformation isn’t optional. Mobile platforms, data analytics, and AI are reshaping underwriting, claims, and distribution. Even if you’re not technical, understand how these tools improve efficiency and customer experience.
Simplify, don’t complicate: many people still see insurance as complex or inaccessible. Your job is to demystify it. If you can explain a product clearly to someone with no background, you’re doing it right.
I like the famous quote frequently attributed to Albert Einstein which states that: ‘If you cannot explain it simply, then you do not understand it well enough’. This emphasizes that true mastery of a subject is demonstrated by the ability to distill complex ideas into simple, clear, and actionable language.
Think long-term – this is a reputation game. Careers in insurance are built over decades, not quick wins. Protect your integrity fiercely. One bad decision can undo years of good work.
Be client-obsessed, not product-obsessed. The future of insurance in Africa will be driven by relevance. Design and recommend solutions that genuinely solve problems, not just meet sales targets.
Learn the business beyond your role. Whether you’re in underwriting, claims, sales, or finance; understand how the entire value chain works. The best leaders in insurance think holistically.
Embrace resilience. You’ll deal with rejection, delayed claims, regulatory pressure, and economic cycles. Stay steady. The industry rewards those who endure and adapt.
Find mentors and be coachable. There’s a lot of wisdom in experienced practitioners. Listen more than you speak, especially early on. At the same time, bring fresh thinking, they need it too.
Remember the purpose. At its core, insurance protects livelihoods, businesses, and futures. When floods hit, when accidents happen, when businesses fail, insurance steps in. Never lose sight of that impact of insurance.
Talent will open doors, but character, consistency, and adaptability are what will keep you in the room. If you stay grounded in integrity, keep learning, and genuinely serve people, you won’t just succeed, you will help shape the future of insurance in Africa!
