A webinar was held last week on “The importance of Technological Transformation in Insurance Companies – INSURTECH”, which aimed to highlight the recognition of new technologies for increasing the penetration rate of insurance in the Angolan economy.
Organized by the Angolan Agency for Insurance Regulation and Supervision (ARSEG) and held as part of the celebration of Insurance Week in Angola, the event showed that the penetration rate of the sector in the national economy is still below 1,0 percent relative to GDP, which is mainly due to the low insurance culture and the current national and international economic and financial situation, aggravated by the Covid-19 pandemic in recent years.
"We must adapt and take into account that technology is one of the means by which insurers can actually introduce some innovation”, said Filomena Manjata, administrator of ARSEG, in the opening speech.
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Still in her approach, the manager stressed that if we look at the last few years, we easily realize that new technologies are increasingly present in our daily lives, as well as in the way we interact at different levels.
"In the reality of developed countries, and of developing countries, today a considerable fringe of the population buys their products and services through the internet, from a computer, tablet and smartphone. Insurtechs allow insurance to be contracted in this way as well. Any citizen with an internet connection can take out their insurance, at any time and place"He said.
Filomena Manjata also took the opportunity to issue a challenge to insurers operating in the insurance market in Angola so that they can in fact take full advantage of technologies, as they are and will always be a form of “improve the penetration of insurance in the national economy".
to inform that the National Day of Insurance and Pension Funds, marks the 5th of August, the date on which the Transitional Government of Angola published Dispatch nº 68/75, of the Ministry of Planning and Finance, through Official Bulletin nº. 181-I Series, creating the Coordination Commission for the Insurance Industry in Angola (CCISA).
