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Our fairytale

An unlikely fairytale

Once upon a time…

In the not-so-distant kingdom of Mzansi, there ruled a band of greedy corporates (aka ‘fat cats’). These fat cats forced the rainbow people of Mzansi to hand over large chunks of their wages every month in exchange for protection against the dangers along the roads that criss-cross the land. ‘Insurance,’ they called it.

This made the fat cats richer and the people of the rainbow nation poorer. It wasn’t fair, but that’s how it was. Until 1 day, everything changed.

Our fairytale

A hero emerges

A young squire to the fat cats, a visionary named Gideon Galloway, got gatvol.

‘There has to be a better way,’ he thought. ‘Our cars are worth less each month, so why should we keep paying more to protect them?’

He spent many long nights brainstorming, fuelled by the fire in his heart and, occasionally, by the juice of the bulls that are red... Until he had a light-bulb moment. ‘A-ha!’ he yelled. ‘I’ve got it!’ (He would’ve yelled ‘Eureka!’ but someone else already had, and he likes to be original.)

Our fairytale

The appreciation of depreciation

Gideon gathered a group of merry men and women, and they disappeared for 3 years. Gone. Poof!

No one knew where they were or what they were doing, except that they were working on something big that would help the rainbow people pay less. And even less the next month. And even less the month after that...
‘Decreasing premiums,’ they dubbed it.

They joined forces with a neighbouring kingdom, Munich RE, a world leader in reinsurance. Munich RE promised to back Gideon’s plan for the people of Mzansi. Then, 2 noble knights, Gauché Radley on behalf of the house of Mertech, and Stefan van der Walt from the Premium Group empire, pledged their support and funding, and Gideon embarked on a 4-year-long quest for even more funding. And, so it was that King Price launched with their industry-first decreasing premiums on 2 June 2012!

Our fairytale

A crown fit for a king

Determined to keep #MakingADifference in the lives of the people of Mzansi, the king of insurance introduced more coin-saving products like R1 insurance, pay-as-you-drive cover, agri insurance, and much more. If the people of Mzansi own it, the king covers it! Gideon and his royal court also embarked on a quest to establish a kingdom in the fabled land of sand, Namibia.

Throughout these adventures, Gideon and his nobles collected and earned many prestigious crowns, sceptres, cloaks and titles, such as ‘best car insurance company’ and ‘best short term insurer’.

Our fairytale

A new way of life (insurance)

Meanwhile, elsewhere in Mzansi, another band of dreamers had started looking for a different way to offer long term insurance. They wanted to cover people’s lives with dignity and respect. They started in 1948 and it took a while, but 1 day they shouted, ‘Yes! This is the way, and from this day forward, we’ll be known as Stangen.’

‘We’ll offer quality life insurance,’ they said. ‘And we’ll do it by offering products that speak directly to the needs of South Africans,’ they rejoiced, jumping up and down in excitement.

Our fairytale

2 sides of the same shield

1 fateful day after this exciting discovery was made, the valiant dreamers of King Price and Stangen crossed paths. And it did not take long (1 flagon of coffee and 2 bowls of the corn-that-pops later, to be exact) to discover that combining their innovations would give the people of Mzansi a 1-stop insurance solution.

And so, from 2020, the valorous lords and ladies of King Price and Stangen worked together to protect the people of Mzansi from the fat cats. And, with all their risks safely covered and more coins in their pockets, they all lived happily ever after.

(Not) the end. Because the king always has more up his sleeve.

Our history

We launch with a world-first:
Super cheap premiums that
decrease monthly

Just 3 months in and
5,000 policies sold

We launch our
dealership channel

Our R1 insurance hits the
market… Another industry first

We launch our broker
channel

The SA Service Awards for
‘best short-term insurer’
and ‘best newcomer’ find
their home in our kingdom

30 months in and 100,000
policies
sold! We celebrate
with a new TV campaign,
which is viewed 1.2 million+
times on YouTube

King Price launches Obelix,
its internally-developed policy
admin, ratings, data
warehousing and call centre
management system

Finalist in the business
category in the
SA Innovation Awards

The first issue of King Press,
our very own internal
newspaper (and we win a
Loeries award for it)

We launch
business and community
insurance

We launch in Namibia
and open a call centre in
Nelspruit

More accolades… Runner-up
in The Star Readers’ Choice
Awards
, for the second year
running

We launch
King Price xtreme

The Lekkerland Carnival
in Dullstroom gets a royal
sponsor for the next 3 years

We launch cybersure,
another SA first

We officially ‘turn’ and
start making consistent
profit

We launch
engineering insurance…

And open an office in
Durbs-by-the-sea

We launch scratch and dent,
to help our clients keep
their cars in tip-top shape

We pay out R2 million
per day in claims

We give away R1 million in
the cybersure online
competition

We’re awarded ‘best data
quality’
in our industry…
Data is critical, but quality
data is king

Our ‘do something sexy to a
tractor’ ad is viewed
1 million times in 24 hours

We flight our ‘lobola’ TV ad
and a ‘kattle’ becomes a
thing all over the world

We ‘cheers’ to saving our
clients over R100 million
in decreasing premiums

We welcome the biker
community
and their 2-
wheeled wonders to the
kingdom

Global Brands names us
‘most innovative insurance
brand in SA’

We add car warranty cover
to our long list of super cheap
products

Our watercraft insurance
makes waves

We win the Corinium
Customer 360 ‘Best
Customer Experience’
award

We’re 3 times a winner…
Thanks to the International
Business Magazine

We celebrate our seventh
birthday with 850 staff
members, 156,000 clients and
85,000 social media fans

We ‘cheers’ to saving our
clients over R150 million in
decreasing premiums

Our kingdom is valued at
R4.2 billion (not bad for a
R100 million start-up)

Moooove over… The king’s
agri cover’s in town with
cover for steenbokkies,
sunflowers and more

King Price secures a deal
with easySure and we
venture into life insurance
with our acqusition of
Stangen

King Price launches
specialised cellphone
insurance: Bling

We drop our chilli
comprehensive car cover... A
sizzling-hot product that lets
you pay-as-you-drive

…and beyond