CIB - Short Term Insurance

CIB is a proudly South African underwriting manager that deals through a network of short term insurance brokers. We have grown from a start-up in 1994 into a major player in the market for personal lines and commercial short term insurance and today service clients with R650 million in annual insurance premiums through a network of more than 700 brokers nationwide.

What does CIB do?

CIB underwrites short term insurance policies in the personal lines and commercial space. We support a network of CIB brokers – from one-man operations in outlying areas to large corporate brokers – by providing them with the administrative, systems and technical support necessary to distribute our quality insurance solutions. The range of personal lines, commercial and niche insurance covers that we offer via our extensive broker network include:

• VERTEX: Insurance for high net worth individuals
• Personal lines: Homeowners, householders and motor vehicle insurance for individuals
• Commercial: A wide range of commercial covers tailored for the SME market, such as –
o Agricultural insurance
o Building insurance
o Engineering insurance
• Niche covers: Insurance for Franchises and Fuel Stations

What makes CIB the best at what we do?

We empower our brokers by offering an exemplary underwriting and claims handling experience, supported by our passionate and highly qualified employees. The CIB management team has decades of experience which we leverage to make it easy for brokers, administrators and insurers to underwrite new business and to process claims. CIB strives for service excellence by ensuring that our employees have the right attitude and are committed to lightning-fast turnaround times.

CIB’s business model focuses on building and maintaining good relationships with our brokers. We support our brokers so that they can support their clients. And our brokers, in turn, reward us by supporting the CIB brand.

A word on the value of advice

CIB develops insurance solutions with a ‘quality over quantity’ mind set. We choose to distribute our solutions through a professional short term insurance broker network because we recognise that incredible value that good advice adds to the end-consumer. We believe that the advice our clients receive through our experienced, qualified and knowledgeable broker network is invaluable in ensuring they are covered for every eventuality.

Technology as an enabler

CIB believes in working smarter rather than harder. We embrace technology to streamline our business processes and pass the resulting cost and time savings on to our brokers and their clients. Our Internet-based policy management system is just one example of how tech-enabled innovation can improve broker experiences, even for those operating in the most remote regions of the country.


The CIB brand and vision

Our logo captures the dynamic essence of the CIB brand. It represents our energetic, passionate and driven people who are committed to service excellence.

The CIB vision is to be the preferred choice for professional short term insurance brokers when considering their clients’ business or personal insurance needs – and our dream is to one day trade under our own short term insurance license. To achieve this vision CIB promises to:

• Strive for excellence by repeatedly raising our standards
• Leverage technology to add value and improve services to our broker network
• Partner with like-minded brokers to provide superior outcomes for our mutual clients
• Achieve consistent growth for our shareholders

Our support structure – insurance carriers

RMB Structured Insurance Limited (RMBSI) underwrites the bulk of our policies.

CIB is also supported by two of the world’s leading reinsurers, Swiss Re and R+V Re. This combination of underwriting partners and reinsurers provides peace of mind for CIB’s brokers that their clients’ short term insurance policies are in safe hands.

Contact CIB today

If you require more information or would like us to put you in touch with a broker in your area, contact us at info@cib.co.za. Your CIB broker can assist you in obtaining a quote for any of your personal or commercial insurance needs.