The Insurance Association of Malawi (IAM) has introduced a major shift in how motor insurance coverage shall be dealt with within the nation. Beginning January 1, 2025, IAM will stop the usage of printed motor insurance coverage certificates, changing them with a digital system geared toward curbing fraud and enhancing the monitoring of stolen automobiles.

IAM consultant, Dickson Malamba, made the announcement at a media and police briefing, explaining that the brand new digital system is designed to fight the rising difficulty of counterfeit insurance coverage certificates, which have been a significant concern within the nation’s highway transport system. He highlighted that the transfer aligns with the federal government’s broader push in direction of a digital financial system, together with the transition to digital providers in varied sectors, together with insurance coverage.

“By embracing digital motor insurance certificates, we will enhance the integrity of the system and ensure that only genuine, verified policies are in circulation,” stated Malamba. He additionally emphasised that the system will facilitate simpler monitoring of stolen automobiles, which is a vital step in combating car theft in Malawi.

The transfer has been welcomed by the Regional Traffic Officer, Superintendent Augustine Chakanika, who expressed optimism concerning the system’s potential advantages for highway security and legislation enforcement. However, Chakanika raised issues concerning the challenges that would come up, notably in rural areas the place community connectivity could also be unreliable. He referred to as on IAM to make sure that visitors officers in such areas are adequately supported with options to deal with potential community points.

Additionally, Chakanika urged IAM to prioritize strong safety measures to guard the digital system from cyber threats equivalent to hacking. The safety of delicate data, together with car registration and insurance coverage knowledge, shall be important to the success of the initiative.

IAM’s transition to digital motor insurance coverage certificates is predicted to streamline the method for each insurers and shoppers, scale back paperwork, and supply larger accountability within the insurance coverage business. However, the shift may also require in depth consciousness campaigns to make sure that the general public and legislation enforcement officers are totally outfitted to deal with the brand new system.

As the nation continues to embrace digital options throughout varied sectors, this new system represents one other step ahead in modernizing Malawi’s insurance coverage and transportation techniques. The profitable implementation of digital motor insurance coverage certificates will rely upon overcoming challenges equivalent to community entry in rural areas and making certain safe knowledge administration.

Follow and Subscribe Nyasa TV :

Sharing is caring!