Imported auto glass to drive down insurance costs for SA consumers

Andrew Lilley, COO of CIB

In a move to reduce the cost of claims for local consumers, independent short-term insurance administrator CIB, has formed an affiliation with Grandmark Glass with the hopes of creating awareness around international glass pricing trends. By making use of this international, more cost effective supplier, CIB is bringing an element of competition to the South African market, which will ultimately benefit the consumer.

Andrew Lilley, COO of CIB, says that when it comes to alternative automotive parts, such as glass, local insurers need to proactively look at international trends and benchmarking practises in order to foster increased competition among local suppliers. “We are able to offer Grandmark Glass windscreens at between 40 - 65% less than the locally manufactured product. By offering consumers premium quality auto glass at fair prices, we hope this will eventually lead to premium reductions and the waivering of excesses.

Filum Ho, sales director of Grandmark Glass says that the lower cost of imported glass will introduce a fresh element of competition into the South African glass market where local suppliers have become complacent. “Now that consumers are able to access the same quality glass at a significantly reduced rate, premiums will become more affordable.”

Lilley says when sourcing an auto glass supplier the safety and quality of the glass, as well as its fitment, is paramount. “Grandmark products comply with all SABS (South African Bureau of Standards) standards and the factory is audited on an annual basis. All of their shatterproof windscreens use premium virgin vinyl from DuPont in America and are E-marked (European certification) and DOT (US Department of Transportation) certified.

Lilley goes on to say that the lower claims costs for glass will have a direct impact on insurers’ motor books, which are usually under pressure due to high claims costs associated with motor claims. “These lower claim costs have the potential to reduce insurance premiums, which in turn will probably lead to more affordable insurance. Ultimately, this could also increase the insured portion of vehicles on South Africa’s roads, which is currently sitting at around 30%.”