African Reinsurance Forum: Harnessing AI to transform the insurance industry

The 30th edition of the African Reinsurance Forum opened, this morning, at the InterContinental Resort in Balaclava, focusing on how artificial intelligence (AI) can transform risk assessment and decision-making in the reinsurance industry. Organised by the African Insurance Organisation (AIO), the two-day forum is being held under the theme ‘From Data to Decisions: How Artificial Intelligence is Transforming Re/insurance’.

The opening ceremony was attended by the Minister of Financial Services and Economic Planning, Dr (Mrs) Jyoti Jeetun; the President of AIO, Mr Alaa El-Zoheiry; and the Chairperson of the Local Organising Committee, Mr Vashish Ramkhalawon, among other personalities.

In her address, Minister Jeetun emphasised the potential of AI and data analytics to extend insurance coverage to individuals and businesses that remain uninsured or underinsured.She noted that insurance penetration remains low across Africa, leaving many households, small businesses and farmers vulnerable to financial losses caused by economic shocks and climate-related events.

Referring to the challenges faced by small farmers in Mauritius, the Minister highlighted efforts to develop affordable crop insurance to protect their livelihoods against risks such as droughts, excessive rainfall and flooding. She stressed that collaboration between Government, insurers and regulators is essential to develop sustainable insurance solutions that protect farmers, strengthen local agricultural production and support food security.

Dr Jeetun further explained that AI, combined with satellite imagery, weather information and insurance claims data, can improve risk assessment and help insurers design more suitable products. However, she cautioned that technology alone cannot eliminate risks, underlining the importance of sound underwriting, appropriate pricing and effective risk management. She called for greater collaboration among industry stakeholders to translate technological advances into practical solutions that make insurance protection more accessible and affordable.

As for the President of AIO, he expressed appreciation to the Government of Mauritius for supporting the forum and stressed the importance of developing African data resources and harnessing artificial intelligence to improve decision-making in the face of emerging risks, including cyber threats.

12 October 2026

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Topics: Financial Services