Luanda: Secretary of State for Telecommunications and Information Technologies ngelo Joo on Thursday called for the modernisation of the insurance sector through the use of technology, real-time data, and automation. Speaking at the opening of the 4th ARSEG Conect Conference, he acknowledged that digital financial services can expand access to insurance, particularly among low-income populations and vulnerable groups.
According to Angola Press News Agency, ngelo Joo highlighted the potential of technologies such as Artificial Intelligence (AI) and digital identification systems to reduce costs and facilitate the distribution of microinsurance and agricultural insurance products. However, he warned of the growing risks of fraud and cybersecurity threats associated with digitalisation, emphasizing the need for closer cooperation between regulators in the financial and telecommunications sectors.
He also underscored the potential of the Angola Post Office network in distributing insurance products and financial services, leveraging its territorial reach to serve populations that remain outside traditional channels. ngelo Joo pointed out that international experience shows postal networks can serve as significant channels for financial inclusion, with data presented at the conference indicating that over 1.5 billion people worldwide access financial services through postal networks, representing around 28 percent of the global population.
Meanwhile, the chairperson of the Board of Directors of the Insurance Regulatory Agency (ARSEG), Filomena Manjata, stated that the objective is to integrate insurance, pension funds, and brokerage activities more closely with the wider economy. She stressed ARSEG's commitment to promoting modern regulation, risk-based supervision, market professionalism, and stronger consumer protection. 'It is not enough to wait for the future. The Angolan insurance sector must prepare for it and, whenever possible, anticipate it,' she remarked.
The conference, held under the theme 'Insurance for the Future: Innovation, Inclusion, Trust and Protection in the Service of Society,' serves as a platform for dialogue, reflection, convergence, and the development of practical solutions for the future of the sector.
