ANOTHER FIRST AS CIC LAUNCHES A DIGITAL  COVER FOR PRIVATE MOTORISTS

Left to Right - CIC Group CEO Patrick Nyaga and CIC General Insurance MD Fred Ruoro during the launch of the Easy Bima Digital Motor Cover.
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CIC Insurance Group  has launched an online motor insurance cover dubbed EasyBima . The innovative product   will enable customers to  conveniently   buy or renew their motor insurance covers digitally, hence enhancing  their experience.  They will also be able to remotely   pay for the said  covers   over a one year period remotely. Ultimately,  this  will make the customers’   financial burden lighter , besides giving  them    greater comfort as they  manage various  priorities in life.   By  and  large,  the  product   seeks to ride on  the  vibrant Kenya’s internet penetration  rate  which  stood at 40.8 percent in the beginning of 2024.

Digital agenda

Speaking at the launch, CIC Group Chief Executive Officer Patrick Nyaga underscored the importance of going  digital   saying it is aimed at enhancing accessibility of  the  underwriter’s   products and services ,  while ensuring business sustainability. ‘’Digitisation is one of the focus areas identified as a catalyst for growth and transformation in our five-year strategic plan,” said  Mr. Nyaga. “ Our goal is to enable Kenyans to realise value while insuring and investing with us which will have an effect in the sustainability of our business,” he added.  In 2024,  CIC Group is planning   to continuously invest in digital upgrades  in order to strengthen performance, enhance efficiencies and achieve customer retention.

On his part, CIC General  Insurance  Managing Director Fred Ruoro affirmed the underwriter’s commitment to continue investing in digital-led innovative solutions aligned with the evolving demands and expectations of their customers.  “We are thrilled to introduce our digital-based monthly motor insurance solution, which reflects our unwavering commitment to embracing technological innovation in enhancing customer experience,” said Mr. Ruoro.   “With EasyBima, we are revolutionising the motor insurance landscape by combining digital convenience with affordability, empowering our clients to protect their assets without compromising their financial well-being,” he added.

Among other things, EasyBima is set to cover accidental and malicious damage, fire, flooding, civil commotion, theft, third party liability, legal liability to third parties resulting from loss or damage to property, injury or death to third parties.

Successful

The  product  will  leverage   Kenya’s tech savvy population . In   2023,  17.86 million internet users  were  registered in the country , increasing the internet penetration to 32.7 percent. Kenya is also home to 10.55 million social media users as at January 2023, equating to 19.3 per cent of the total population.

CIC Group has for five decades walked with Kenyans by providing insurance and financial services built around their needs. With a  capital base of Kshs. 2.1 billion and over 1.3 million customers, the group ranks among the most successful insurance companies in Kenya . It is the leading cooperative insurer in Africa.

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