Once upon a time, 5 years ago on 2 June, in the land of Mzansi, Gideon Galloway unveiled a new kingdom… A kingdom that’s known as King Price.
Galloway’s mandate was (and is) simple… Turn the insurance industry on its head! With only 20 people and a focus on providing insurance that’s fair and logical on day 1, the insurer is now more than 700 people strong, has welcomed more than 102,000 clients to its royal family, and is more focused than ever on day 1,825.
Statistics indicate that the first 5 years of a business are the ‘survival years’ yet King Price is not just surviving… It’s thriving! Its offering has grown from its much-talked-about car insurance with premiums that decrease monthly, to also include cover for buildings, home contents, portable possessions, caravans and trailers, and businesses and communities, as well as unbeatable R1 insurance for things like Apple Watches, Nikon cameras, bikes, golf clubs and hearing aids. (Yes, that’s R1 per month, and no, that’s not a typo.)
King Price is so much more than just a visionary company that’s changing the way insurance is done 1 decreasing premium at a time. “At King Price, we believe that a fun workplace is a happy workplace and that happy staff make happy clients,” says Galloway. “Our 7 family values drive what we do, and how we do it, every day. Our business may be insurance but we’re in the business of making a difference… For our staff, our clients, our shareholders and suppliers, our country and, eventually, the world.”
True to this, King Price launched north of the border last year and its 1-of-a-kind business model is shaking up the Namibian market, too. What’s not to love about an insurer that’s fun, affordable and treats its clients like royalty!
Now South Africa’s fastest growing short-term insurer, it’s safe to say that King Price is no longer ‘the new kid on the block’. Older and wiser, the king of price is constantly looking to the future and harnessing tech to make sure that its offerings remain relevant, focused and affordable, and to ensure that its clients become life-long happy clients.
If you’re covered by the king, your car premiums will continue to decrease month-on-month, new products will offer ever-better cover for everything you own, you can continue to rely on their award-winning royal service, and you should always expect the unexpected. Because that’s how the king rolls.