King Price Insurance
TypePrivately owned
IndustryInsurance
Founded2012
FounderGideon Galloway
HeadquartersWaterkloof Glen,
Pretoria
,
South Africa
Key people
Gideon Galloway, CEO
Websitewww.kingprice.co.za

King Price Insurance is a South African-based, privately held insurance company that offers short term insurance.[1][2] The company is best known for its monthly decreasing car insurance premium model.[3][4]

History

King Price Insurance was founded by Gideon Galloway.[5][1] The company received its initial funding from Francois van Niekerk of Mertech group and Stefan van der Walt of Nikon, and was launched in 2012.[6] The company offered monthly insurance, reducing premiums that decrease with the depreciating value of the asset.[7][8] King Price Insurance registered with as a member of the South African Insurance Crime Bureau (SAICB).[9] King Price insurance is reinsured by reinsurer Munich RE. The company’s head offices is located at the Waterkloof Glen, Pretoria.

Product

King Price Insurance offers covers for short term insurance products including car, household, building, specialised items, trailers, caravans and all risk insurance.[10] It offers car insurance premiums that decrease monthly according to the continuously depreciating value of the insured vehicle.[11]

Awards

King Price won dual awards for Best Short-Term Insurer and Best Overall Newcomer in the 2013 South African Service Awards.

References

  1. 1 2 Maarten Mittner (15 June 2012). "Short-Term Insurance". Financial Mail. Retrieved 6 March 2014.
  2. ↑ Jonathan Greig (7 November 2013). "South African insurers missing a trick, says Google". BDlive. Retrieved 6 March 2014.
  3. ↑ Hanna Barry (6 March 2015). "Insurers are inflating premiums, says King Price". Retrieved 6 March 2014.
  4. ↑ "2013 Winners". Retrieved 6 March 2014.
  5. ↑ Nadine Todd. "When the Price is Right: We Chat to Gideon Galloway from King Price". Entrepreneur Magazine. Retrieved 6 March 2014.
  6. ↑ Dean Oelshig (20 November 2014). "The best brands solve the simplest problems". Retrieved 6 March 2014.
  7. ↑ "Get Rid of Overpriced Insurance Premiums with King Price Insurance". Money Smart. 18 July 2013. Archived from the original on 27 June 2014. Retrieved 6 March 2014.
  8. ↑ "King Price recruits 10000 clients since launching". Financial Mail. 12 December 2012. Retrieved 6 March 2014.
  9. ↑ "King Price Join the SAICB". SAICB. Retrieved 6 March 2014.
  10. ↑ "King Price Insurance". Money Smart. 18 November 2012. Archived from the original on 4 November 2013. Retrieved 6 March 2014.
  11. ↑ "King Price Insurance claims lowest car premiums". The Sowetan. 16 July 2012.
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