1. What made you decide to start a UMA?
Our passion for buildings and we recognised a gap in the market where we could change the way buildings were insured in South Africa. Although all traditional insurers can insure buildings we believed that by offering a specialist product and a unique service level would differentiate us in the marketplace.
2. Four things you would say is essential for a successful UMA
The success of any UMA should be built on three pillars namely product, service and price. If one of these is weak the other two cannot support it and it will topple over. The fourth very important element is to remain focused and to continually increase your skills and knowledge in your chosen line of business.
3. How do you approach each of these things to ensure the type of success that leads to winning an FIA Award?
It is vitally important that you remain consistent in all of the aspects mentioned above at all times. Your continuous research and development will also keep you ahead of the pack and differentiate you from the others.
4. How do you manage the regulatory impact?
At CIA we believe in embracing change and aligning ourselves, and our products, to adapt to the ever changing environment.
With TCF as one of our core values we recognise that fair treatment of our customers is about adding value to the product and service we offer by aiming to protect the interests of our customers at each stage of the product’s life cycle, from development to after sale service.
5. UMAs depend heavily on expertise. Where do you get that from, how do you grow it and lastly how do you manage to retain skills?
At CIA we believe our success can be attributed to the attitude of our staff. We believe in appointing experienced staff who buy into and share our corporate culture. Staff members who share the passion for our brand are willing to go the extra mile and strive to improve our offering on a daily basis. Building long-term relationships with our intermediaries and our staff is one of our fundamental values. We have found that keeping staff motivated creates a strong sense of loyalty and belonging.