In a very competitive market and to remain the leaders in our industry we continually strive to renew, review, re-invent and rethink our service delivery and products offered to our brokers and their clients. Hence the launch or our new product range on the 1st of March 2014.
To assist you in understanding our new products and also to highlight pertinent benefits and features we will now be launching a ‘Did you Know?’ newsletter campaign.
Part 1- Did you know CIA has a Key Information Document?
The ever-changing legislative environment as well as the changes in the insurance industry, such as the Consumer Protection Act with it’s plain language requirements and the new principals of Treating Costumers Fairly, has made CIA realise that it is now the time to again reinvent the way all buildings are insured in South Africa. Although the Consumer Protection Act only requires personal lines policies to be written in plain language, we decided to apply this principal to all our products.
As an added benefit to you and our clients we have developed Key Information Documents for all our policies. (KID)
In this KID we give clients important information on the following:
- Who the insurer and CIA are.
- Cooling off period
- How we calculate our premium
- Advising them to make sure that their building sum insured is adequate and explaining in detail the
principle of average
- Their duty
- Making a claim
- Complaints procedure
- Sharing of information (POPI)
- What the policy consists of and how to read it
- And most importantly a summary of the significant benefits and features of the cover offered by each policy.
In other words, you use the Key Information Document to give the client a summary of what he is buying. It is easy for you and him to read and understand.
The reference to the page number in the wording makes it easier for the reader to find what they are looking for.
It also makes it easy to understand what is covered and what is excluded and also shows the different sums insured and limits of indemnity.