King Price has been named Most Innovative Insurance Brand in South Africa by the UK-based Global Brands Magazine. The awards attracted more than 7 000 entries from around the world and celebrated excellence in 16 categories
Over the past six years, the company has sold more than 400 000 policies and maintains that it has saved South Africans over R100m in decreasing premiums – it is the only insurer that offered premiums that decrease monthly as car values drop.
The R3.3bn company anticipates maintaining its 50% year-on-year growth for the next seven years and currently employs 750 people.
“Innovation has been at the core of what we do since we started six years ago, based on the idea that there had to be a more sensible way of doing insurance,” says Natalie Bisset, King Price’s GM for marketing. “We’re delighted with this award.”
The company launched a motorbike insurance product this year and also offers its car clients the ability to insure items like Apple watches, bicycles, golf clubs and even hearing aids for an extra R1 a month.