The power of three
Momentum Short-term Insurance (STI), one of the Momentum Group’s youngest business divisions, is headed up by a dynamic management trio, whose unique individual capabilities contribute to their collective success as a management team. They attribute Momentum STI’s progress to a great team effort by all stakeholders involved.
FAnews spoke to Brand Pretorius CEO, Pieter Erasmus, Head of Marketing and Distribution; and Lynette Bisschoff, Chief Operating Officer to uncover what makes them tick and click so well together as a team.
Brand Pretorius, CEO
Area of focus: First and foremost I need to ensure that we achieve our strategic and operational objectives. I also focus on providing strategic direction and creating an environment in which motivated, passionate and competent people can perform to their maximum potential.
Unique skills set: My expertise related to general management, leadership and strategic planning has translated well in my role as CEO.
What makes the management trio work: We share the same values, a crucial success factor for a successful team. We also don’t take ourselves too seriously – we don’t subscribe to the “ego” issues often found in senior management teams. Add a lot of mutual respect and some good-natured fun, and you have a recipe for a great team!
About Pieter and Lynette: They both have a great sense of humour and a positive outlook on life in general. They are also principled leaders that set a great example for everyone in our business.
Best advice ever received: Always treat people with respect and stand up for what you believe in – these are the most important of the many values I hold dear as a result of the example my parents set.
About Momentum STI: I believe that what makes us appealing to both intermediaries and clients is our ability to rate risk accurately and our commitment to providing awesome service. And, because we are part of the Momentum group, our intermediaries can offer their clients complete financial services offerings from an integrated, dynamic and reputable company.
About Momentum STI’s motor book: The sustainability of motor insurance is an important issue in our industry. Our individual underwriting philosophy allows us to differentiate more when rating risk, and as such, we believe we are accurate in our pricing, specifically of motor risks. Our efficient claims management process also results in better claims cost management. As a result of these two factors, we are satisfied with the current performance of our motor book.
Pieter Erasmus, Head of Marketing and Distribution
Area of focus: I focus on building business strategies and relationships between ourselves and our vitally important external partners - distribution and intermediaries.
Unique skills set: I have a firm understanding of the importance of solid business relationships and principles, which is based on my knowledge and experience in marketing, specifically relationship marketing. My interest in organisational behaviour also allows me to contribute a unique perspective.
What makes the management trio work: We share passion for, and loyalty to, our business and we have a healthy respect for each other’s particular expertise. In a constructive and creative environment, we can challenge each other when the opportunity presents itself.
About Brand and Lynette: I thoroughly enjoy the committed, yet informal and fun, contribution that Brand and Lynette bring to our team.
Best advice ever received: Never compromise or deviate from your beliefs, always do your best and, of course, finish what you start - wise words from my parents.
About Momentum STI: I believe that we are a contemporary, forward-thinking and values-orientated insurer that understands that relationships - internally with staff and externally with our intermediaries - are vital. We also realise that we have to challenge the status quo at times, including current industry practices, to realise our long-term business goals.
Lynette Bisschoff, Chief Operating Officer
Area of focus: Ensuring that we have the right people on board to achieve our goals and targets. This means make sure that our people are equipped, trained and supported to focus all their energy on offering awesome service to our clients and intermediaries, that we waste nothing and that we strive for excellent productivity, including managing our claims leakage areas so that our premiums are not affected by poor management of basic processes.
Unique skills set: Knowledge and experience in operational management and a passion for developing people.
What makes the management trio work: An exceptional level of trust and respect guarantees speed and efficiency in our decision-making processes. We each have our own area of accountability and responsibility, but we are pulled together as a unit by our passion and sense of ownership of the business. We work closely together and regular interaction keeps us all on the same page and creates opportunities to use each other as sounding boards.
About Brand and Pieter: Brand is always calm, fair and open-minded - an inspirational leader. Pieter is the perfect gentleman with a wealth of knowledge about our industry and a great sense of humour.
Best advice ever received: When I was 18, my uncle Lucas told me: ‘If you give a man a fish, you feed him for one day; if you teach him how to catch a fish, you feed him for life’.
About Momentum STI’s motor book: Motor insurance is sustainable if risks are underwritten scientifically and claims leakage areas are managed well. Momentum STI wholeheartedly supports initiatives driven by SAIA to improve factors beyond our control such as the condition of our roads, uninsured and un-roadworthy vehicles; unlicensed drivers; reckless driving and vehicle related crime.
Into the future
Momentum STI’s dynamic management trio believes that, at the moment, their greatest challenge is to grow the business significantly, whilst remaining profitable.
As such, they are shifting their strategic focus to reposition Momentum STI’s as stronger in the commercial sector. “We have experienced that intermediaries and business owners alike increasingly appreciate our comprehensive commercial product, competitive premiums and service ethic,” says Brand. “We are working on a number of exciting initiatives to improve Momentum STI’s commercial product offering even further. Watch this space!”
