More than six in 10 (61%) of insurance CEOS who attended the 10th Continental Reinsurance CEO Summit in Cape Town were open to using AI in underwriting, according to a real-time poll carried out at the conference.
However, 41% had not yet implemented the technology, said Continental Re in a report posted yesterday on its website.
Held under the theme “Africa in Action”, the two-day Summit — that ended on 9 April — convened over 100 insurance executives, regulators, and thought leaders from across the continent for strategic dialogue and forward-looking reflection. This year’s gathering also marked a significant milestone — the 40th anniversary of Lagos-headquartered Continental Re, the largest private pan-African reinsurer.
In his opening remarks, Group CEO of Continental Reinsurance Holdings Lawrence Nazare highlighted the urgent need for inclusive partnerships and agile leadership in navigating today’s socio-political and environmental volatility.
“Leadership in African insurance requires partnership. We must define guidelines that enable us to cope with the various changes taking place in our societies,” he said, urging the industry to turn challenges into collective opportunity.
Regulators from Kenya, Nigeria, Uganda, and Zimbabwe also spoke. Kenya’s insurance commissioner Mr Godfrey Kiptum stressed the importance of inclusive innovation to avoid deepening the digital divide. Nigeria’s Olusegun Omosehin called for agility in the face of geopolitical disruptions, while Uganda’s Kaddunabbi Ibrahim Lubega and Zimbabwe’s Dr Grace Muradzikwa emphasised climate-responsive regulation and harmonised standards across African markets.
Mr Nyimpini Mabunda, former CEO of General Electric Africa, urged CEOs to evolve beyond conventional leadership models. “The traditional CEO playbook is outdated. Innovation isn’t a department—it’s a culture,” he said, advocating for purpose-driven leadership grounded in African realities.