The Reserve Bank of Malawi (RBM) has asked insurance companies in the country to consider reaching out to people in rural areas as part of the national financial inclusion agenda.
RBM Director of Pension and Insurance Supervision Paul Nyirenda said insurance companies should introduce affordable policies which can easily be accessed by people.
He was speaking in Mzuzu during the launch of this year’s second insurance awareness week organised by Insurance Association of Malawi.
“They [insurance companies] can use mobile service to reach people in rural areas. However, this will need the companies to reach the people with knowledge about the importance of insurance,” Nyirenda said.
He said the insurance industry has a key role to play in national economic development.
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Insurance Association of Malawi President Abdul Mageed Dyton said the industry is committed to broadening its scope with insurance messages and products.
“People must know that if they insure their property and their lives, they are better off. Their lives will never be the same even during eventualities,” Dyton said.
According to chairperson for the organising committee Dorothy Chapeyama, activities have been lined up with support from RBM.
