Zambia is one of nine countries in sub-Saharan Africa with more registered mobile money accounts than bank accounts (GSMA, 2013). Previous case studies investigating the rise of m-insurance (i.e. microinsurance sold through mobile phones) in Zimbabwe and Tanzania, highlighted that whilst m-insurance initiatives have the potential to enhance access to insurance, they present unique risks which, if not adequately addressed, can have negative consequences for financial inclusion and market development.

This report takes a focus on Zambia and outlines the challenges and risks in the market that require further investigation by regulators, policymakers, and other relevant stakeholders. It also provides an opportunity to understand the obstacles to growth in m-insurance, as well as the possible regulatory solutions that can be put in place to address these obstacles.