CIC Insurance Group has officially launched CIC Impact, a microinsurance subsidiary designed to deliver affordable, accessible financial safety nets to low- and middle-income earners, small businesses, farmers, and cooperatives. It is governed by the Insurance Regulatory Authority’s (IRA) Microinsurance Regulations of 2020
With annual premiums starting below Ksh 3,000, the product portfolio targets everyday risks faced by working-class families and small enterprise owners:
- MSME & Commercial Risk: Essential operational protection for small businesses.
- Agriculture & Livestock: Tailored covers for smallholder farmers to buffer against climate and yield risks.
- Specialized Personal Accident: Target covers for boda boda riders, security guards, blue-collar workers, and students.
- Community & Health Safety Nets: Micro-pensions, group funeral benefits, group medical cover, and daily hospital cash support.
The launch of a dedicated subsidiary comes on the heels of surging demand for low-cost cover. According to Patrick Nyaga, Group Managing Director and CEO of CIC Insurance Group, microinsurance premiums within CIC grew from Ksh 131 million in 2020 to a cumulative Ksh 1.2 billion by the first half of 2026.
“Through CIC Impact, we are expanding access to insurance by offering affordable, accessible solutions tailored to underserved groups,” Nyaga noted. “With annual premiums starting below Ksh 3,000, more Kenyans can protect their businesses, livelihoods, and families.”
Dr. Nelson Kuria, Group Chairman of CIC Insurance Group, emphasized that while CIC is not new to the space, the strategic move allows for deeper market penetration into areas standard corporate insurance often misses.
“While CIC has provided microinsurance solutions for more than 10 years, the new subsidiary gives the business dedicated focus to develop simpler, more innovative products and expand access to insurance for more Kenyans,” said Dr. Kuria.
To strengthen product delivery and scale its reach, CIC Group has partnered with the Philippines’ CARD Mutual Benefit Association (CARD MBA).
Dr. Jaime Aristotle Alip, Founder and Chairman Emeritus of CARD MRI, highlighted that the collaboration will focus on sharing operational knowledge, building local staff capacity, leveraging technology, and refining product design to maximize social impact.