Sanlam names roup Chief AI Officer to oversee enterprise-wide deployment across insurance and financial services

Theo Mabaso, who retains his role as group chief technology and information officer, will govern Sanlam's AI strategy as the company moves from pilot projects to large-scale implementation

Sanlam, one of South Africa's largest financial services groups, has appointed Theo Mabaso as group chief AI officer, a newly created executive role that places artificial intelligence under dedicated leadership at the highest level of the organisation. Mabaso will continue to serve as group chief technology and information officer alongside the new appointment.

The role is designed to move AI from isolated experiments into consistent deployment across core business functions, including underwriting, claims processing, financial advice and client engagement. The appointment also introduces a formal governance structure for AI initiatives, with defined oversight responsibilities and capital allocation aligned to AI-driven projects.

Sanlam operates across life insurance, general insurance, financial planning and investment management, serving clients across South Africa and a number of other African markets. The company holds extensive client data accumulated over decades, which Mabaso described as central to the opportunity AI presents.

"Insurance is, in many ways, a data business masquerading as a financial one. We hold deep, trusted data that spans lifetimes. Artificial intelligence allows us to synthesise that knowledge in previously impossible ways, industrialising our ability to deliver better products, superior advice, and ultimately better financial outcomes," said Mabaso.

He also addressed the governance requirements that come with deploying AI in an environment where decisions affect long-term financial outcomes. "In our industry, the stakes are high. AI influences decisions that affect people's financial security for years, sometimes decades. That means machine operable accuracy, codified controls, digitally executable fairness, explainability and robust oversight must always come first," he added.

Sanlam Group CEO Paul Hanratty described the appointment as a response to AI becoming a strategic priority rather than an area of exploration. "With Theo's appointment, we are ensuring artificial intelligence is developed responsibly and used to strengthen our competitive muscle, innovation and enhanced customer experiences across the organisation. AI will have a major impact on Sanlam's drive to help our customers live with financial confidence. It will expand access to financial tools, insights and advice, make financial knowledge more accessible and financial products more affordable," said Hanratty.

Mabaso previously contributed to the B20 South Africa Digital Transformation Task Force in 2025, where he focused on the role of technology in supporting inclusive economic growth. His appointment at Sanlam follows a period in which he led the modernisation of the group's technology infrastructure.

The creation of a dedicated chief AI officer role at group level reflects a broader shift among large financial institutions, which are increasingly formalising AI governance structures as regulatory attention on the technology's role in financial decision-making grows.