CIC Insurance Group Rolls Out its Six-year Sustainability Plan
CIC Insurance Group has released its inaugural sustainability report, emphasizing its commitment to sustainable products and resilient risk management solutions.
The report, part of the company’s long-term sustainability strategy, aims to increase microinsurance policies at CIC Group to 25 percent by 2030, achieve gender balance across the workforce by 2030, and increase the percentage of revenue spent on Social Investment for greater impact among other commitments.
“Our sustainability strategy is deeply rooted in the cooperative values that shape who we are as an organization,” Mr. Patrick Nyaga, Group Managing Director and CEO, CIC Group said
”We acknowledge that our sustainability efforts need to support our customers who include cooperatives, to achieve affordable and sustainable risk management. Our solutions are therefore geared towards innovating products that address emerging risks such as climate change and tailoring them to fit the needs of different audiences.” he added.
The report recognizes commitments CIC Group made to the Global Sustainability Initiatives by becoming signatories to the United Nations Global Compact (UNGC) Network Kenya and the Nairobi Declaration on Sustainable Insurance (NDSI). The Company has invested in low-carbon technologies like laptops to replace desktop computers and has retrofitted all lighting to conserve energy as well as installing a solar-powered pump at its Ushirika Gardens project.
Dr Nelson Kuria, Group Chairman at CIC Group added, “The Group facilitated 40 training sessions to the senior management and board members of various co-operatives on risk management, digital lending and emerging trends, financial wellness and cyber security.”
‘’CIC Group has continued to insure agriculture growing premiums significantly and keeping our word by paying claims thus derisking farmers on losses suffered due to adverse weather related events,’’ added Mr. Nyaga.
Other social impact products on offer include Co-opcare, a medical product for Cooperative members and their affiliates with a minimum membership of 10 principal members, Uganda’s Kameeza, a low-cost funeral expense cover designed for the policyholder and their immediate family members, Malawi’s Abwenzi, a health product targeting women and their families and the Seniors Mediplan(Kenya), a specialised health insurance product for senior citizens over 60 years, with no age limit once someone is on cover.
CIC’s sustainability journey is guided by its 2025 – 2030 long-term strategy built on four sustainability pillars: Environmental Stewardship, Social Responsibility, Economic Resilience, and Responsible Governance.
The strategy sets ambitious goals for 2030 including: Encouraging community development through CIC Foundation, Supporting local entrepreneurship, Fostering sustainable practices, Promote diversity, equality and inclusion, Improving employee engagement index and Enhancing customer engagement
Under the six broad goals, CIC Group has developed specific targets to be achieved by 2030 including: Increasing microbusiness policies proportion at CIC to 25%, reducing waste diverted to landfill by 25%, reducing Scope 1 and 2 GHG emissions by 30%, achieving gender balance across the workforce, achieving a representation of PWD of at least 1% of the total workforce and improving customer satisfaction index to 90%.
It’s in point of fact a great and helpful piece of information. I’m glad that you simply shared this useful info with us. Please stay us informed like this. Thank you for sharing.
Some truly choice blog posts on this web site, saved to bookmarks.
Hello there! This is my first comment here so I just wanted to give a quick shout out and tell you I genuinely enjoy reading your blog posts. Can you recommend any other blogs/websites/forums that deal with the same topics? Thanks a ton!
Merely wanna state that this is very useful, Thanks for taking your time to write this.
Whats Happening i’m new to this, I stumbled upon this I have found It positively helpful and it has helped me out loads. I am hoping to contribute & aid different customers like its aided me. Great job.
It’s really a great and helpful piece of information. I’m glad that you shared this helpful information with us. Please keep us up to date like this. Thanks for sharing.
I really value your work, Great post.
I do consider all of the ideas you’ve introduced to your post. They are very convincing and will certainly work. Still, the posts are too brief for novices. May just you please prolong them a bit from next time? Thank you for the post.
Some really interesting info , well written and loosely user friendly.
Thank you for the good writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! However, how can we communicate?
Everything is very open and very clear explanation of issues. was truly information. Your website is very useful. Thanks for sharing.
I like this website very much, Its a really nice post to read and obtain information. “Nunc scio quit sit amor.” by Virgil.