Who is CIB Insurance?
CIB Insurance is a short term insurance provider that was established in 1994. CIB offers their insurance solutions through brokers, and according to their website, they currently service over 1000 brokers in South-Africa. These brokers include those on a corporate level, as well as personal brokers. CIB Insurance is underwritten by RMB Structured Insurance Limited (RMBsi). The CEO of CIB Insurance is Douglas Donnelly and its managing director is Wilhelm von la Chevallerie.
Where is CIB Insurance located?
CIB Insurance is located at 15E Riley Road, Riley Road Office Park Bedfordview Gauteng 2008. Their postal address is Private Bag x1600 Bedfordview Gauteng South Africa 2008.
What services does CIB Insurance offer?
CIB Insurance offers a range of insurance products, including personal insurance, commercial insurance, agricultural and buildings insurance, and engineering insurance, just to name a few. In terms of personal insurance, CIB Insurance’s choices vary from domestic building to liability to vehicle insurance to home insurance.
Below we will focus on CIB’s car insurance options. CIB car insurance offers the typical range of motor vehicle insurance options: comprehensive car insurance, third party car insurance, fire and theft insurance and third party only (For the definitions of each of these types of insurance, see our “Car Insurance Terms and Definitions” post).
CIB Insurance offers the following “benefits” (which many of you have to pay for):
- Cars are insured for their retail value;
- For an additional premium, you can receive car hire for 30 or 60 days for both manual and automatic vehicles;
- Car hire upgrade options;
- Optional coverage for sound equipment and accessories;
- Availability of certain excess structures;
- Medical expenses;
- Emergency accommodation;
- Locks and keys coverage.
How user-friendly is the CIB Insurance website?
When you open CIB Insurance’s website, you will find a “clean” and easy to navigate website. The graphics are clean and simple, the colors are subtle and easy on the eyes – all which makes it easier for a potential customer to search for the information he or she is interested in. Once you click on the link you are interested in, CIB Insurance provides detailed information on each service. We found this to be true in terms of their history, their mission and values, as well as specifically about car insurance. Overall, we found the CIB Insurance website satisfactory and helpful as a website should be – so for this, they have our thumbs up (something that not many of the other insurance companies received in our reviews).
How to file a claim with CIB Insurance
On the CIB Insurance homepage, there is a link “Online Claim Forms.” If you click on the link, you will be given the option to fill out an online claim or download the form and send it to CIB Insurance by fax. In addition, there is a link on the website titled “Claims Procedure” – this details the process for filing and expecting a response for a claim. So overall, here to CIB makes it easy and convenient for their clients to file claims if they need to.
What are the customer reviews of CIB Insurance?
In reviewing hellopeter, CIB Insurance received only 28 reports in the past year, which is a very low number and very strange seeing how they have been around for a long time. This either means that their customers are very happy, or don’t have the energy to complain/compliment. Of those 28, only 4 of them, meaning only 14%, were compliments. The remaining 24 reports, or 86%, were complaints! That’s about 6 times more complaints than compliments! Looking at the nature of the complaints, the two categories that were quite high in terms of number of reports were “repairs/servicing” and “feedback/response.” Clearly these are the two key areas that customers have experienced the most frustration and dissatisfaction. In their defense, CIB Insurance provided a response to almost every report filed. Interestingly, though, a number of reports received an “updated response” but this did not lead those individuals to change their report from a complaint to a compliment. Clearly they remained dissatisfied, even with the updated response. Overall, it is difficult to reach a definitive conclusion based on only 28 reports in the last 12 months when most of the other companies we reviewed received, at least, a few hundred (both positive and negative), so, all we can do is wait and follow up again in a couple of months.
Summary
Approximately 20 years old, CIB Insurance offers a range of insurance solutions through both corporate and personal brokers. Their car insurance coverage seems very typical, with very few added benefits (Note to all insurance companies: “benefits” are added value features that the customer does not have to pay for. Anything a customer has to pay more for, is not a benefit, seeing how he has paid for it…). They have a well organized, helpful and easy to navigate website that shows the users the information they are looking for. Regarding customer feedback, the small number of overall reports filed doesn’t help give a clear picture of their level of service: the percentage of the complaints were “high”, but this isn’t a good indication seeing how there were so few reports. The question being, why so few? Are they a very small company? Are their clients not saying anything? Or do they truly provide such a great service that no one feels the need to file any reports?
In such an event, all we can offer as solid advice is that you take the following 3 steps:
1. Read our post on how to save on car insurance;
2. read 2-3 reviews about other insurance companies that interest you OR read our research about “Are you using the best insurance company in South Africa?;
3. Get a few Free online car insurance quotes (click here to get One quote or here to get up to 9 quotes).
Main subject: CIB Insurance
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