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In a world of increasing challenge, many research companies believe that there is strength in numbers, and that large companies are better able to cope with industry difficulties than smaller firms, even if cost pressures become larger as companies increase in size, says Saks Ntombela, Managing Director of Hollard Life and Investments.

Over the past two years, Hollard has been on an acquisition drive as the company seeks to establish itself as one of the largest and most diversified insurers in the country. FAnews caught up with Saks Ntombela, Managing Director of Hollard Life and Investments, who points out that the acquisition of Altrisk was the next logical step in this quest to grow bigger and be better.

It’s all about the client

Looking at the acquisitions of Hollard over the past two years, it looked like the company was attempting to become all things to all people. The acquisition of Altrisk, which adds significant capacity in the life segment of the company, particularly when it comes to specialised cover, may arguably have enhanced this view.

"Rather than growth for growth’s sake, our acquisitions have been more about enhancing our existing business and have all been logical next steps in each of the business areas in which we have made acquisitions. We are augmenting our broader consumer brand appeal and highlighting the fact that we are not merely a short-term and funeral insurance provider, but a multi-product, multi-consumer segment financial services player that places a lot of focus on consumers. The migration of the Altrisk brand supports Hollard’s positioning as a provider of the full range of life insurance products," says Ntombela.

Fostering relationships

Hollard acquired the remaining minority interests in Altrisk in 2013, so the re-brand is a natural progression of that journey and an important stepping stone towards delivering the company’s strategy. Brokers have always played an important role in this strategy, and they will continue to do so as the company grows.

“The initial reaction to the Altrisk acquisition among brokers has been very good, and we intend nurturing old relationships, while fostering new ones,” he says.

Acknowledging the industry’s concern around skills, Ntombela outlines Hollard’s plan to develop its internal capabilities. “Our approach starts with understanding what skills and capabilities we will need in the future to win in the markets in which we choose to compete. Each Hollardite has an individual development plan that balances his or her personal aspirations and the business needs – the plan maps out how he or she will be supported to develop the necessary skills,” says Ntombela.

Enhancing product development

Altrisk was known for developing unique products which typically offered a wider range of cover than that of other insurers. Ntombela points out that this will continue as Hollard looks to maintain the company’s momentum.

“Hollard has actively encouraged Altrisk’s growth since its start-up in 1999. We will retain the qualities Altrisk is known for, namely being great at discriminating risk, offering a simple proposition, quick processing, great service and accessible management. It is a solid base to build off and we will leverage our Hollard heritage to put together an integrated risk value proposition that responds to the needs of an evolving and increasingly discerning consumer market,” says Ntombela.

He adds that the company has a number of products and product enhancements currently under development. Ntombela is confident that Hollard will enhance both the consumer and broker value propositions. He adds that Hollard will be sharing news about these products over the next few months once they are complete.