What ZSIC General Insurance does

ZSIC General Insurance Limited is a Zambia-domiciled, state-owned non-life (general) insurance company founded in 1968 and headquartered in Lusaka, operating as a subsidiary of the Industrial Development Corporation (IDC), which is wholly owned by the Government of the Republic of Zambia. The company was originally established as Zambia State Insurance Corporation Limited as a composite insurer, was restructured and split into ZSIC General Insurance and ZSIC Life under the Insurance Act No. 27 of 1997 (as amended in 2005), and has operated under IDC ownership since March 2017.

The company's product portfolio covers five primary lines: Car Insurance (comprehensive, third party, fire and theft, the GRZ Motor Vehicle Insurance Scheme for civil servants, and motor traders cover), Home Insurance (dwelling, contents, and personal accident), Business Insurance (fire, goods in transit, group personal accident, employer's liability, public liability, burglary, fidelity guarantee, money, and electronic equipment), Agricultural Insurance (crops including maize, wheat, and tobacco; livestock and poultry; and farm property), and Cyber Crime Liability (cyber liability, data breach, ransomware, and electronic computer crime). Supporting products include flexible payment plans via Pay-As-You-Go short-term cover and DDAC monthly installments, plus a salvages disposal channel for totaled vehicles.

The technology foundation is a conventional insurance policy management system with an online self-service portal at selfservice.zsicgi.co.zm for policy management, quotations, and claims, a 1122 call centre, mobile offices, and the largest branch network in Zambia covering all 10 provinces alongside an authorized repairer network. Revenue is generated primarily through insurance premiums on subscription and usage-based pricing models, with publicly disclosed third-party motor rates and home insurance paid annually in full. Distribution is multi-channel, combining direct branch sales, the self-service portal, call centre, and a repairer-led service network; the company reports a 101-250 employee headcount and is consistently ranked among the top three preferred insurance companies in Zambia.

Name

ZSIC General Insurance

Legal name

ZSIC General Insurance Limited

Website

https://zsicgi.co.zm

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

101–250 employees

Short description

ZSIC General Insurance is a Zambia-based, state-owned non-life insurer offering motor, home, business, agricultural, and cyber insurance products through the largest branch network in Zambia, serving individuals, SMEs, corporates, and civil servants across all 10 provinces.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Personal Auto Insurance (FSAJAMAA)

akta.pro secondary industries

General Liability Insurance (FSAJAMAE), Commercial General Liability (CGL) (FSAJADAA), Travel & Accident (Non-Life) Insurance (FSAJAMAN)

Keywords

• General insurance
• Motor vehicle insurance
• Business insurance
• Agricultural insurance
• Home insurance

Headquarters

HQ city

Lusaka

HQ country

Zambia

HQ region

Africa

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: ZSIC General Insurance generates revenue through collection of insurance premiums from various policy types including motor, home, business, agricultural, and cyber insurance. Premiums can be paid annually, in monthly installments via DDAC, or through pay-as-you-go short-term coverage.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

ZSIC General Insurance is a non-life insurance provider offering short-term insurance products including motor vehicle (car) insurance, home insurance, business/corporate insurance, agricultural insurance, and cyber crime liability cover. The company distributes through a nationwide branch network, an online self-service portal, a call centre, and mobile offices across all 10 provinces of Zambia.

Product overview

ZSIC General Insurance is a non-life insurance provider offering a portfolio of short-term insurance products for motor vehicles, homes, businesses, and agriculture. The product lineup includes Car Insurance with multiple coverage tiers (comprehensive, third party, fire & theft, and specialized GRZ civil servant scheme), Home Insurance covering structures and contents, Business Insurance providing corporate risk protection against fire, theft, liability, and electronic equipment, Agricultural Insurance for crops, livestock, and farm property, and Cyber Crime Liability for digital risk protection. Additional services include flexible Payment Plans (Pay-as-you-go and DDAC installments) and Salvages for purchasing reclaimed vehicles.

Differentiator

Problem solved

Functional benefit

Products and services

• Car Insurance Motor vehicle insurance covering comprehensive, full third party, fire and theft, and specialized schemes including the GRZ Motor Vehicle Insurance Scheme for civil servants and Motor Traders Insurance for vehicle dealers and fleet operators.
• Home Insurance Comprehensive home coverage including House Insurance for private dwelling structures, House Contents Insurance for belongings, and Personal Accident Insurance for injury or death.
• Business Insurance Corporate risk protection covering fire, theft, vandalism, property damage, employee injuries, office comprehensive, goods in transit, group personal accident, employer's liability, public liability, burglary, fidelity guarantee, money insurance, and electronic equipment coverage for businesses.
• Agricultural Insurance Farm protection for small scale and commercial farmers covering Crop Insurance (maize, wheat, tobacco), Livestock and Poultry Insurance, and Farm Equipment and Property coverage against loss from flood, drought, disease, or death of animals.
• Cyber Crime Liability Cyber liability cover protecting businesses and individuals from internet-based risks, data breaches, ransomware, and financial losses, including Electronic Computer Crime Policy and Commercial Crime insurance.

Quantifiable outcome

• Claims processed within 21 working days after submission of all required documentation

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Regional players

• Hollard Insurance Zambia: Hollard is a South African-headquartered insurance group with a Zambian subsidiary offering motor, property, and accident insurance. It is a regional peer bringing private capital and group-scale underwriting to the same Zambian market where ZSIC GI operates.
• Jubilee Insurance (Zambia): Jubilee Insurance is an East African insurance group with a Zambian subsidiary offering general insurance products. It is a regional comparison point for product diversification and multi-country distribution similar to ZSIC GI's nationwide footprint.
• Old Mutual Insurance Zambia: Old Mutual operates a general insurance business in Zambia offering motor, home, and business covers. It is a regional incumbent competing with ZSIC GI for both individual and corporate general insurance customers in Zambia.
• Britam General Insurance (Kenya): Britam is a large East African financial services group with general insurance operations. It is a regional benchmark for the scale of product diversification (motor, home, agricultural, commercial) that ZSIC GI aspires to in the Zambian market.
• Sanlam General Insurance Zambia: Sanlam is a South African financial services group with a presence in Zambia offering general insurance products. It is a regional peer with broader group capabilities than ZSIC GI, competing for the same mid-market and corporate customers.

Direct peers

• Madison General Insurance (Zambia): Madison General Insurance is a leading Zambian non-life insurer offering motor, fire, marine, and accident insurance. It is one of ZSIC GI's principal direct competitors in the Zambian general insurance market, competing head-to-head on motor and corporate lines.
• Coronation Insurance Zambia: Coronation Insurance Zambia is part of the Coronation Insurance Group and offers motor, property, and liability insurance in Zambia. It is a direct competitor to ZSIC GI in the local non-life insurance segment.
• Professional Insurance Corporation Zambia (PICZ): PICZ is a Zambian general insurance company providing motor, property, marine, and engineering covers. It competes directly with ZSIC GI in the same domestic non-life insurance market, particularly for commercial and SME customers.

Broad incumbents

• AXA Insurance (Africa/EMEA): AXA is a global broad-line insurance carrier operating in Africa with general insurance offerings. It is a broad incumbent and represents the kind of well-capitalised global competitor increasingly entering the African non-life insurance market that ZSIC GI faces.
• Allianz Insurance (Africa/EMEA): Allianz is a global insurance and asset management giant with a presence in Africa providing general insurance products. It is a broad incumbent setting the global benchmark for multi-line non-life insurance, product pricing, and digital underwriting that ZSIC GI competes against.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ZSICGeneralLimited
• LinkedInlinkedin.com/company/zsic-general-insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

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 ZSIC General Insurance