ICEA insurance company has this morning introduced Simba Motor Policy.
Simba motor policy benefits include accident scene management, alternative accommodation, a courtesy vehicle in case yours is disabled and free fuel worth 1 million shillings every time the policy is paid upfront or renewed.
Speaking at the launch of the policy the Chief Executive Officer Uganda Insurers Association Al-hajji Kaddunabbi Lubega said that it is only through innovation and creativity that the insurance industry can be developed.
Lubega also said, “Our penetration into the market is still low, but with creative products like the Simba motor policy, we shall be able to take a lions’ share of the economy.”
Lubega applauded the creativity exhibited by the insurance company. He urged other insurance providers to do the same.
Zulfa Namyalo the assistant manager business development at ICEA General, the policy has been launched to give value to the consumers.
Zulfa said, “We want our customers to have value for money as soon as they sign up instead of waiting for the claim.”
Motor vehicle insurance, also called automotive insurance, a contract by which the insurer assumes the risk of any loss the owner or operator of a car may incur through damage to property or persons as the result of an accident
ICEA insurance company is that is made up of ICEA Lion Group, ICEA General Insurance, ICEA Life Assurance and ICEA Asset Management. It is one of the largest insurers and financial services companies in East Africa
Insurance Company Of East Africa (U)(ICEA) Limited provides general insurance, life insurance, and pension scheme administration services in Uganda. The company offers individual insurance and planning for the future solutions, including life assurance covering endowment and child education plans, unit-linked investment plans, term assurance, key man assurance, whole life and mortgage protection assurance, credit life and joint-life assurance, life annuity and personal pension plan, unit trusts, personal accident insurance, and supplementary riders; and general insurance products, such as motor, domestic, fire, personal accident, legal liability, and golfing.