Young Talent Shines at Malawi Insurance Quiz
The annual contest tests up-and-coming insurance professionals on their knowledge.
BLANTYRE, Malawi - The annual Malawi insurance quiz competition ended Thursday with top honors going to Caroline Masumba, writes Steven Godfrey Mkweteza.
The event is aimed at identifying new talent and increasing insurance awareness.
"Through this competition, we have also witnessed many people registering for various types of insurance but a lot need to be done to narrow the gap on insurance penetration in the country," said Limbani Kadzongwe of sponsor Old Mutual Malawi.
The country has introduced various measures to increase insurance participation, but penetration remains low at just 2.5 percent, Kadzongwe said.
Old Mutual Malawi has sponsored the competition for years, providing MK7 million this year.
Kadzongwe said the company would continue its "exciting big financial support" in the future "to delight the competitors."
Insurance Institute of Malawi President Hastings Kapesa said the event has helped identify promising new professionals.
"The new blood that are identified help to nurture the future of insurance in the country," he said.
In the individual competition, Libertus General Insurance's Masumba won the top prize of MK100,000.
Christina Namalomba of Old Mutual Malawi placed second, winning MK75,000 .
Boniface Sitima from Prime Insurance came in third for MK50,000.
The annual contest tests up-and-coming insurance professionals on their knowledge.
Organizers said it has increased awareness and encouraged more Malawians to obtain coverage.
"Young Talent Shines at Malawi Insurance Quiz" - Limbani Kadzongwe, Old Mutual Malawi.