CIC Group has settled a group personal accident cover claim worth Ksh. 8.8 million submitted by Tower Sacco. This claim adds to Ksh. 538 million worth of claims settled by the insurer in Q1 2021 in the General Business line.
Speaking during the cheque handover, MD CIC General Insurance Mr. Fred Ruoro said, “We are committed to expeditiously settle claims made by our customers in good time. We strive to be a dependable partner to our clients who continue to trust us with their insurance needs.”
Commenting about the claim settlement, GM Marketing and Customer Experience Mr. Joseph Kamiri said, “We are delighted in meeting our customers’ needs and keeping our word. Prompt payment of claims is a promise we continue to make and keep.”
CIC has remained a leader in General Insurance commanding second position with a 7.8% market share according to the 2020 Insurance Industry Release Report for Q4 2020 by the Insurance Regulatory Authority. The insurer in motor insurance in the past won the Annual Think Business Insurance Claims Settlement Award for consistently paying claims on time.
The CIC group has for more than three decades shouldered the risks of Kenyans by providing flexible Insurance and financial services built around their needs.
With a total of 3,878 shareholders and a capital base of Ksh. 2.1 billion and 1.3 million clients, CIC Group ranks among the most successful insurance companies in Kenya. The group is also considered among the leading co-operative insurers in Africa. CIC has stated that it is also targeting to expand operations in the East and Central parts of Africa.