The new product, dubbed Lady Auto, is specifically designed for women drivers. PHOTO | FILE
By STELLAR MURUMBA, smurumba@ke.nationmedia.com
In Summary
- The package covers the driver, her nuclear family and domestic worker, which takes care of their medical expenses in the event of an accident.
CIC Group
has developed a customised insurance policy that factors in fashion as
part of customer taste and preference in a move targeting Kenya's female
demographic.
According to the NSE-listed insurer, the new product, dubbed
Lady Auto, is a private motor insurance package specifically designed
for women drivers.
“We have identified the needs of women drivers and
tailor made a product that addresses these needs and tackles challenges
they face on roads as female drivers,” said CIC Group strategy and
marketing general manager Joseph Kamiri.
One of the benefits includes a personal accident
cover for the driver, nuclear family and domestic worker, which takes
care of their medical expenses in the event of an accident.
“Most lady drivers travel with their family and
domestic workers. Lady Auto has a holistic approach due to the fact that
they are all at risk,” said Mr Kamiri.
The product also covers the contents of ladies' handbags as well as the handbag itself in event of theft while driving.
“In the event of forced ATM withdrawal during a
carjacking incident, we reimburse a maximum of Sh15,000. The cover
provides road rescue by AA insurance thus relieving you from the stress
that accompanies towing. The insured enjoys emergency air rescue from
AMREF in the event of an accident,” he said.
The package also comes with an annual wellness
check-up at Karen Hospital, courtesy car for the insured for 24 days and
trauma counselling together with the driver's nuclear family.
The rate for the cover is 5 per cent of the value of the car, said Mr Kamiri.
“We have taken time to understand customers and
essentially what they need. We are looking forward to engaging customers
on what we have in store for them especially in the New Year,” he said.
The move comes as general insurers recorded a 53.2
per cent drop in underwriting profits mid this year as a result of a
spike in claims in the motor and medical classes.
Insurance cover for private motorists recorded the
largest losses at Sh1.3 billion, an indication of a rise in accidents
involving personal cars.
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