Insurance brokers, agents challenged – The Times Group

Revitalizing Malawi’s Economy: Navigating Insurance Industry Disruptions and Opportunities

Post was last updated: August 10, 2025

Key Business Points

  • Insurance brokers play a critical role in expanding insurance access in Malawi, according to Nico Life Chief Operating Officer Chimwemwe Kanyenda.
  • Collaboration and knowledge sharing are key to enhancing service delivery and bridging the gap between insurers and clients in the life insurance sector.
  • Digital transformation and operational efficiency are essential areas of focus for the insurance industry in Malawi, with brokers providing valuable feedback on areas for improvement.

The financial services giant Nico has emphasized the importance of insurance brokers in expanding insurance access in Malawi. Speaking at a high-level brokers’ workshop in Lilongwe, Nico Life Chief Operating Officer Chimwemwe Kanyenda highlighted the critical role that brokers play as advisers and advocates who help bridge the gap between insurers and clients. The workshop, held under the theme ‘Mutual Growth and Customer-centricity’, brought together key players from the broker community to engage on pressing industry issues, including product innovation, claims management, digital transformation, and operational efficiency.

According to Kanyenda, the workshop was part of Nico’s ongoing efforts to equip and empower brokers with the tools and insights needed to better serve the market. The interactive sessions and open fora allowed brokers to provide direct feedback on areas for improvement, particularly in claims turnaround times and policy issuance. This feedback is crucial in helping Nico Life to improve its service delivery and better meet the needs of its clients. As Kanyenda noted, "We believe in partnerships that grow together. By engaging our brokers more frequently and meaningfully, we are confident that we can raise the standard of insurance delivery in Malawi."

The workshop was described as "timely" by Resilient Insurance Agency Business Development Manager Moreen Kambalametore, highlighting the need for ongoing collaboration and knowledge sharing in the insurance industry. By working together, insurers and brokers can improve customer-centricity and provide more effective solutions for clients. As the insurance industry in Malawi continues to evolve, it is essential for businesses to prioritize dziko lililonse likhale, or "a world of protection for all", by providing accessible and affordable insurance products that meet the needs of the local market. By doing so, they can contribute to kukongola zinthu, or "making things easier", for their clients and help to drive economic growth and development in Malawi.

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Vanessa Banda
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