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King Price gears up to grow broker channel, commercial book

31 August 2021 King Price
Susan Grobler at King Price

Susan Grobler at King Price

King Price has brought industry heavy-hitter Susan Grobler on board to head up sales in their business insurance division and strengthen their broker channel.

Having been inducted into the insurance kingdom’s quirky, service-driven way of doing things differently at the beginning of August, Grobler says she’s already identified numerous opportunities for King Price to grow their presence in the broker community, which she describes as the bedrock of the company’s commercial book: “Brokers are vital to our business. They are core to our success and at the heart of everything we do in the commercial space. Their ability to give trusted advice to our shared clients, based on first-hand understanding of their clients’ risks, is invaluable.”

Grobler’s strategy includes building relationships with brokers across the country and she, along with key members of the commercial team, will be meeting with brokerages personally wherever possible. “As King Price has ramped up their focus on their commercial channel in recent months, we’ve realised that many brokers don’t know that we offer commercial insurance,” she says. “There’s a perception that we only operate on the direct space. However, we have a vibrant broker book and innovative, relevant, cost-effective products in the business, engineering, community schemes and agri insurance sectors – some of which are industry- and world-firsts.”

Other key messaging is that King Price is both easy to work with and a serious player in the commercial insurance space. Their 15% shareholding by Germany-based global reinsurance giant Munich RE gives them the ability to write significant risks in the commercial space, and gives the market peace of mind that they can pay any potential claims. “We’re fond of saying that we take what we do very seriously, but ourselves not so much,” says Grobler. “We work incredibly hard, but we whistle while we do so, and we want to make it easy and fun to do business with us.”

Another key differentiator is King Price’s industry-leading technology and reporting systems. They believe that their custom-built ratings box is the best on the local market, as it enables them to make complicated underwriting decisions within 48 hours and empowers their clients who benefit from cover that’s customised to their unique needs. In the broker world, this translates to being able to offer quick turnaround times on quotes, sustainable book growth, and client relationships built on trust.

Grobler is also looking to make changes internally, to align the functions within King Price’s different commercial departments and thus drive higher achievement of goals, more values-driven decision making, and enhanced customer-centricity.

King Price’s head of commercial insurance Minnaar Fourie said that Grobler’s appointment is critical to the company’s focus on growing sustainable new business in South Africa. “We’re delighted to have Susan on board. She has incredible experience, knowledge and energy, and she’s the right person at the right time to help us take our commercial business to the next level,” he said.

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