The Insurance Institute of Zambia (IIZA) is currently registered under the Societies Act Cap 119 of the Laws of Zambia as an individual based PROFESSIONAL BODY for all insurance and pension practitioners in the Zambian Insurance and Pensions industry.  

In order to consolidate IIZA’s position, the ‘Insurance and Pension Draft Bill (IPIZ)now receiving final review for onward transmission to the Ministries of Justice and Finance for eventual enactment. This enactment shall transform IIZA into the Insurance and Pension Institute of Zambia (IPIZ) and make it a sole professional body in setting standards in the practice of insurance and pensions in Zambia.  It shall actualize its Status similar to the Statuses enjoyed and held by other individual based local professional bodies such as the Engineering Institution of Zambia (EIZ), the Zambia Institute of Chartered Accountants (ZICA), Zambia Institute of Marketing (ZIM), Law Association of Zambia (LAZ) e.t.c

The proposed IPIZ Act shall therefore make membership of the Institute compulsory to all the professionals practicing at all levels in the Industry including Risk Carriers, Pension Funds Managers, Brokers, Agents, Loss Adjusters, Loss Assessors, Actuaries, Risk Management Consultants, In-House Insurance Advisors in Industry and Commerce and In-House Sales Representatives. 

The institute collaborates with other industry stakeholders such as the Pensions and Insurance Authority (PIA), the Insurers Association of Zambia (IAZ), the Insurance Brokers Association of Zambia (IBAZ), and the Zambia Association of Pension Funds (ZAPF) to make IIZA membership a pre-requisite to holding any position in the Industry.  This is to the advantage of the individual practitioners, the entities they work for and most importantly to the benefit of the Customers.