Sunday, May 26, 2024

CIC Group to invest in technological upgrades as it unveils a digitally-based monthly motor cover

Co-Op post

CIC Insurance Group Plc has today affirmed its commitment to enhance its customer service delivery capabilities by continuously investing in digital technological upgrades.

Part of this investment has gone towards the launch of a digital monthly motor insurance cover dubbed “EasyBima”, where customers will seamlessly purchase or renew their motor insurance cover remotely via the CIC web portal.

Speaking at the launch event, CIC Group Chief Executive Officer Patrick Nyaga underscored the importance of the digitisation drive saying it is aimed at enhancing accessibility of its 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. Our goal is to enable Kenyans to realize value while insuring and investing with us which will have an effect in the sustainability of our business. This year, we plan to continuously invest in digital upgrades to strengthen performance and enhance efficiencies to achieve customer retention in the long term,” said Mr. Nyaga.

CIC Insurance Group Plc 2023 Half-year Performance

CIC General Insurance Managing Director Fred Ruoro reiterated 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. The platform is thus a real game changer for customers and the market, as it will provide clients with a new level of ease without the challenge of paperwork or rigid payment schedules,” said Mr. Ruoro.

The EasyBima Motor cover allows clients to spread their comprehensive car insurance payments over 12 months, easing the financial burden and ensuring greater comfort as they manage priorities in life. Further, the cover allows clients to purchase their insurance coverage in the comfort of their seats introducing unmatched convenience.

“We understand the challenges our customers are facing in today’s economic landscape given that for most people their disposable income has been affected. With EasyBima, we are revolutionizing the motor insurance landscape by combining digital convenience with affordability, empowering our clients to protect their assets without compromising their financial well-being,” added Mr. Ruoro.

The EasyBima cover takes advantage of Kenya’s tech-savvy population whereby 2023 saw 17.86 million internet users registered in the country resulting to 32.7 percent internet penetration. Kenya is also home to 10.55 million social media users as at January 2023, equating to 19.3 percent of the total population. Insurance companies in Kenya are also driving the insurance ecosystem by promoting the versatility of insurtechs.

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