By Michael Kanaabi Dollar
ICEA General Insurance emerged as the most innovative insurer in the General Insurance category at the inaugural Insurance Innovation awards held recently at the Kampala Serena Hotel.
Through the company’s motor comprehensive product dubbed Simba motor comprehensive, the insurer has been able to give clients a much better offering beyond other ordinary motor comprehensive products on the market offer.
“ Firstly this product does not have a consideration for ‘excess' a term used in the insurance business wherein case one's insured item in this case the vehicle is to be replaced, the insurer only parts with 90% of the value while the 10% has to be covered by the client,” says Daniel Kairu ICEA's head Marketing and Business Development.
On top of paying one's full amount when the claim is due, the process of getting one's claim when your car is damaged or destroyed under this policy has been simplified.
“All you need to do is produce your driving permit, logbook, photos of the damaged vehicle (accident) and based on the valuation of the vehicle at the time the insurance policy was taken out, the insurer will settle the claim,” Kairu says.
Other benefits of the award-winning policy include the fact that when your car is being worked on in the garage in case of an accident, you are given an alternative car to use in the meantime or the man you spend hiring a private taxi like Uber is refunded until your vehicle is returned.
With just a little extra 0.25% on top of the 4% of the vehicle’s value, you would pay for a conventional comprehensive insurance policy, you will get additional cover for personal accident, replacement of property like phones snatched while on the road.
In case you are far away from home when you get an accident emergency accommodation and transportation for you is also reimbursed and finally, this policy also entitled you to a tank of high-quality fuel from Shell whenever it is renewed.
It is as a result of this product innovation embedded with the benefits that the Simba Motor policy took home the accolade for the most innovative non-life product at the recently concluded insurance innovation awards.