What led you to the world of insurance?
After varsity, I started as a coder at Auto & General [Telesure Group] and worked my way up to marketing director. I pioneered Hippo.co.za while I was there, and left as sales and e-commerce director eight years later. I was well paid and enjoyed my job, but I didn't feel passionate about it any more. I had become frustrated with the lack of innovation in the industry.
I spotted an opportunity to change the industry based on the fact that car values depreciate every month. I couldn't understand why insurers didn't decrease car insurance premiums monthly - especially as all insurers pay out the insured value if something happens to a car [under comprehensive insurance]. To me, it just doesn't make sense to pay the same every month.
So I decided to start offering insurance that makes sense, in the form of premiums that decrease monthly in line with the cars' values. We're still the only insurer in the world [as far as we know] that offers this.
Making my King Price dream a reality meant finding investors who shared my vision. I was pretty sure that, with my networks and background, I'd be successful in six to nine months, but I had to learn patience and perseverance. I even went overseas for pitches. It took me four years and 42 funding pitches before I finally succeeded.
What sets it apart from other insurers?
The South African industry didn't think we'd last three months. But, in our seven years, we've saved our clients more than R150m in decreasing premiums. Something else that sets us apart is our unique un-corporate culture. I wanted to create a working environment that encourages every employee to operate to their full creative potential.
We're known for being a people-centric company because we believe happy staff mean happy clients. We have our own full-time head of culture, whose job is to make sure that 950 healthy, happy individuals turn up for work every day, and live our vision of "lower premiums: higher purpose".
What makes you good at your job?
I'm passionate about what I do, and I've always been an entrepreneur. I love creating, starting and building innovative businesses, but I realised a long time ago that we all have different strengths, and no-one can do everything. So, I'm a firm believer in hiring people who are more capable and knowledgeable than I am.
What do you find most meaningful about the work you do?
Having purpose is critical. So even the way our business is structured is aimed at #MakingADifference in someone's life, every day. The Mertech Group, an important shareholder, is majority-held by the Mergon Foundation, a nonprofit organisation that's been funding churches and grassroots organisations since 1982. Mertech also funds Nation Builder, enabling businesses to maximise social impact by supplying them with expert resources and linking them to like-minded partners. The group is also aligned with Muthobi, which connects community projects to corporate and private donors.
What is the best career advice you have ever received, and who gave it to you?
It's not quite career advice, it's more of a life lesson that I learnt long before King Price: Give back. I've also learnt that nothing turns out like the original plan and spreadsheet, but don't sweat it. Life happens, so be flexible and adapt.
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