Relentless focus on clients helps King Price keep its crown

Petrie Vermaak

In a world driven by advancements in technology and the rise of digital channels, customer expectations have changed forever. They’re demanding efficient, transparent experiences on the channels of their choice, with real-time interactions and feedback. Effectively, this means that suppliers can no longer commit to responding during office hours and think that they’re hitting the mark.

The challenge for insurers is to embrace and integrate client care innovations like online self-service options, chatbots and 24/7 support, in order to deliver a simple, seamless, omnichannel experience, said King Price’s customer experience officer Petrie Vermaak.

“There are a couple of critical areas where it’s vital for an insurer to nail the client experience. For one, we must make the process smoother, and reduce friction and frustration. We must set ourselves apart through expertise: Clients want help making informed decisions. And most of all, we have to ensure that the claims process is streamlined, transparent and empathetic. This is a key touchpoint for clients, and we don’t want it to be a pain point,” said Vermaak. “One of the values that we live by at King Price is ‘customer is king’ and we try really hard to deliver royal service all the time, every time.”

King Price has been investing heavily into technology, people and process improvements to improve its overall customer experience, says Vermaak. “We’ve been relentlessly refining processes and are working smarter to reduce our response times. Our efforts are paying dividends, with client care ratings at an all-time high.”

As a result, the insurer is topping Hellopeter’s Trust Index in the insurance category. May marked the 16th consecutive month that King Price recorded the highest possible Trust Index rating.

In South Africa’s highly competitive short-term insurance industry, brand loyalty is in short supply. Cash-strapped consumers will change insurers to save a few Rands every month. For most insurers, positive word-of-mouth is the ultimate sweet spot that drives referrals and positive reputation.

“Exceptional client care has the power to generate recommendations. We’ve seen how satisfied clients are far more likely to share their positive experiences with friends, family, and colleagues. It’s one of the most powerful tools available to us to attract new clients and contribute to our reputation as the king of insurance,” said Vermaak.