Professional Insurance

What Professional Insurance does

Professional Insurance Corporation Zambia LTD (DBA: PICZ) is a privately held general insurance provider headquartered in Lusaka, Zambia, operating since 1992 with 51-100 employees. The company offers four core product lines: Motor Insurance (Comprehensive and Full Third Party), House Insurance, Overseas Travel Insurance, and Muende Bwino (a local travel personal accident cover). It serves both Individual consumers and Corporate clients, distributing policies through a direct-to-consumer model built around its MyPICZ mobile application, which enables client registration, quote generation, policy purchase, claims intimation, and claims tracking.

The company's core technology is the MyPICZ mobile platform, which provides end-to-end digital lifecycle management for the insurance value chain. Its primary revenue stream is insurance premiums collected upfront or on a periodic basis across all four product lines, with quote-based pricing that varies by product, coverage, risk assessment, and customer profile. Distribution is concentrated in a single-country, single-channel setup: the MyPICZ app (self-serve) and the corporate website (picz.co.zm). The company positions itself on three pillars — 30+ years of Zambian market experience, an A+ Credit Rating maintained for 12 consecutive years, and a stated focus on speedy claims settlement — but discloses no financial detail (revenue, premium volume, claims ratio, GWP), no funding history, no ownership or management roster, and no product roadmap.

Name

Professional Insurance

Legal name

Professional Insurance Corporation Zambia LTD

Website

https://picz.co.zm

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

51–100 employees

Short description

Professional Insurance Corporation Zambia LTD is a private Zambian general insurer offering motor, house, and travel insurance products to individual and corporate customers, distributed primarily through its MyPICZ mobile application and corporate website.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Travel Medical Insurance (Individual) (FSAIAEAI)

Keywords

• General insurance
• Motor insurance
• Property insurance
• Travel insurance
• Commercial insurance

Headquarters

HQ city

Lusaka

HQ country

Zambia

HQ region

Africa

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: Professional Insurance generates revenue through collection of insurance premiums across multiple product lines including Motor Insurance (Comprehensive and Third Party), House Insurance, Overseas Travel Insurance, and Local Travel Personal Cover (Muende Bwino). Premiums are collected upfront or on a periodic basis depending on policy terms.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Professional Insurance Corporation Zambia LTD (PICZ) is a general insurance company that underwrites and distributes motor, property/household, and travel insurance products to individuals and corporate clients across Zambia. The company also provides a proprietary mobile application, MyPICZ, for policy management, claims processing, and customer self-service. Founded in 1992 and headquartered in Lusaka, PICZ has over 30 years of operating history in the Zambian insurance market.

Product overview

Professional Insurance Corporation Zambia LTD offers a portfolio of general insurance products through both traditional channels and its mobile application MyPICZ. The core product lineup consists of Motor Insurance (with Motor Comprehensive and Full Third Party options), House Insurance for property owners, Overseas Travel Insurance for international travelers, and Muende Bwino for domestic travel coverage. The MyPICZ app serves as the digital platform enabling client registration, quote generation, policy purchases, and claims management, connecting customers to the company's insurance offerings.

Differentiator

Problem solved

Functional benefit

Brands

• MyPICZ: Mobile application for clients to register, generate quotes, buy insurance, intimate claims, and track claims.

Products and services

• Motor Insurance Insurance coverage for motor vehicles, including private and commercial vehicles, providing protection against road risks and related liabilities for vehicle owners in Zambia.
• House Insurance Property insurance coverage for residential houses, protecting homeowners against risks such as fire, theft, and natural perils. Targeted at individual homeowners and corporate property holders in Zambia.
• Overseas Travel Insurance Travel insurance policy covering Zambian residents traveling abroad, providing protection against travel-related risks such as medical emergencies, trip cancellation, and loss of belongings during overseas trips.
• Muende Bwino Local travel insurance product branded under the name Muende Bwino, designed for travel within Zambia, offering coverage for domestic travelers against local travel risks.
• MyPICZ Mobile Application Proprietary mobile application that allows PICZ customers to manage their insurance policies, file claims, and access self-service features. Available to both individual and corporate policyholders in Zambia.

Quantifiable outcome

• A+ Credit Rating maintained for 12 years running
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Madison Insurance Company Zambia: Madison is a Zambian general insurer offering motor, property, and personal accident cover. It competes directly with Professional Insurance for the same Individual and Corporate Zambian customers on a substantially overlapping product mix.
• NICO General Insurance (Zambia): NICO is a regional P&C carrier with a Zambian operation offering motor, fire/property, and accident insurance to individuals and corporates. It is a direct competitor with overlapping distribution and product set.
• Zambia State Insurance Corporation (ZSIC): ZSIC is the dominant state-owned general insurer in Zambia offering motor, property, and personal accident lines. It shares the same single-country general insurance focus and competes head-on with Professional Insurance.

Regional players

• Hollard Insurance Zambia: Hollard is a South African-headquartered insurer with Zambian operations selling motor, property, and commercial cover. It is a peer of similar product type but anchored by a regional South African parent.
• Britam Insurance: Britam offers general insurance (motor, property, accident) in East and Southern Africa including Zambia, with a comparable SME/consumer focus and an accelerating digital distribution buildout that competes with MyPICZ.

Broad incumbents

• Old Mutual Insurance Zambia: Old Mutual operates a long-established general insurance business in Zambia alongside life and investments, offering property and casualty lines that overlap with Professional Insurance's motor and house products.
• Sanlam Insurance Zambia: Sanlam's Zambian general insurance arm distributes short-term motor and property cover alongside its life and wealth business, making it a broad incumbent competitor across overlapping P&C lines.
• Jubilee Insurance: Jubilee Insurance operates short-term (general) and long-term insurance lines in multiple East and Southern African markets, with motor and property products directly comparable to Professional Insurance's portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Key highlights5 records

Customer concentration

• Xx.com/piczambia
• LinkedInlinkedin.com/company/piczplc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Professional Insurance