CIC Insurance Group, a renowned player in the Kenyan insurance market, has unveiled its first-ever sustainability report, signalling a robust commitment to empowering communities with risk management solutions crafted for resilience in the face of emerging challenges.
This inaugural report not only outlines CIC’s ambitious plans but also aligns the company’s mission with globally recognised sustainability standards.
With a clear objective to deepen its social impact, CIC’s long-term strategy prioritises sustainable development and equitable growth.
By 2030, the company aims to ensure microinsurance policies make up a quarter of its business. It also targets gender balance within its workforce and a significant increase in its social investment footprint, all woven into its sustainability pillars of Environmental Stewardship, Social Responsibility, Economic Resilience, and Responsible Governance.
“Our sustainability strategy is deeply rooted in the cooperative values that shape who we are as an organization,” stated Patrick Nyaga, Group Managing Director and CEO of CIC Group, during the report’s launch.
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“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.”
In line with these commitments, CIC is setting new benchmarks in sustainability within Kenya’s insurance sector. Its membership in the United Nations Global Compact (UNGC) Network Kenya and the Nairobi Declaration on Sustainable Insurance (NDSI) reflects its pledge to uphold global standards.
Practical measures are already underway: CIC has replaced desktop computers with laptops to cut energy use, retrofitted office lighting systems, and installed a solar-powered pump at its Ushirika Gardens development to reduce environmental impact.
Nelson Kuria, Group Chairman at CIC Group, underscored the company’s educational initiatives, saying, “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’s social impact efforts extend beyond Kenya’s borders, with tailored insurance solutions designed to meet the needs of underserved communities across East Africa.
For instance, Co-opcare provides affordable health coverage to cooperative members, while Uganda’s Kameeza offers a low-cost funeral policy.
In Malawi, the Abwenzi plan supports women and their families with affordable health insurance, and in Kenya, Seniors Mediplan ensures health coverage for senior citizens over 60, without age limits.
Reflecting on the growth of the agriculture insurance sector, Nyaga commented, ‘’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.’’
This agricultural focus is critical in a region where weather-related losses have been a persistent challenge for smallholder farmers.
Looking ahead, CIC’s 2025–2030 roadmap includes ambitious goals. By 2030, the company intends to increase microbusiness policies to 25 percent, cut greenhouse gas emissions by 30 percent, achieve a customer satisfaction rate of 90 per cent, and attain gender balance across its workforce.
The company also aims to divert 25 percent of waste from landfills and increase the representation of persons with disabilities within its workforce.
As CIC embarks on this ambitious journey, the report solidifies its vision of a future where sustainable practices and responsible governance drive economic resilience and social well-being for communities across Kenya and beyond.
The strategy, rooted in cooperative values, positions CIC as a leader in crafting insurance solutions that are both resilient and inclusive, affirming its role as a pioneer in sustainable business practices.
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