CIC Insurance is banking on emerging youthful leadership to take on innovative ideas and build up the membership of the movement beyond its current population of eight million.
CIC Insurance #ticker:CIC will tap into savings and credit co-operatives societies’ (Saccos) membership as a way of increasing insurance products penetration in the country. The underwriter said Wednesday it is banking on emerging youthful leadership to take on innovative ideas and build up the membership of the movement beyond its current population of eight million.
CIC Insurance group chief executive Tom Gitogo said the co-operative movement is a key pillar in the development and integration of insurance products in Kenyans’ lives.
“We are alive to the fact that about 20 million Kenyans depend on the co-operative movement directly or indirectly, opening up huge possibilities for the reach and depth of addressing their insurance needs,” he said.
The underwriter is rolling out its new five-year strategic plan, designed to be aligned with the Vision 2030 and to build internal capacity for the co-operatives to grow their youth membership.
Saccos are estimated to have mobilised savings of more than Sh600 billion.
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