Newly launched local insurer Lord’s Insurance says it is positioning itself around emerging risks such as cybercrime, agriculture and AI-powered insurance systems as it seeks to penetrate Botswana’s highly competitive insurance market.
Speaking during the company’s official launch in Gaborone, Chief Executive Officer Victor Nnoni said the company wants to move beyond conventional insurance products and focus on areas that are becoming increasingly important to businesses and households.
“Our systems are AI integrated, allowing us to improve efficiency, enhance responsiveness and strengthen customer experience while observing the highest standards of data protection and privacy,” said Nnoni.
The company, established in 2023 and operational since 2025, officially launched this year under the theme “Guiding Your Tomorrow.”
Nnoni said the insurer deliberately delayed its formal launch to ensure it had adequate capital, governance systems and regulatory compliance structures in place before entering the market.
“We did not want to just jump into the market, but rather enter with something that brings value,” he said.
Lord’s Insurance operates both life and short-term insurance businesses under one group structure and says it is fully citizen-owned.
While funeral, group life and credit life products form part of its offering, the company says it sees major growth opportunities in agriculture and cyber liability insurance.
Nnoni said the company has already started rolling out agricultural insurance products across the country, describing agriculture as an underdeveloped niche within Botswana’s insurance sector despite growing climate-related risks.
The insurer is also preparing to launch cyber liability cover targeting businesses concerned about data protection and cyber threats as Botswana moves toward implementing stronger cyber security laws.
“There are a lot of laws around that and government is about to introduce the Cyber Security Act,” he said.
The launch comes at a time when businesses globally are increasingly seeking protection against cyberattacks, data breaches and operational disruptions caused by digital threats.
Nnoni, who says he has more than 20 years’ experience in the insurance industry, said building public trust would be central to the company’s growth strategy.
“We are committed to building a trusted institution that serves with excellence and contributes meaningfully to the growth and integrity of the insurance industry,” he said.
Industry analysts say Botswana’s insurance sector remains heavily concentrated around traditional products such as motor vehicle, funeral and property insurance, leaving room for innovation in specialised risk coverage linked to technology, climate and digital transformation.
