King Price Insurance

King Price Insurance is a private insurance provider with headquarters in South Africa, that provides short-term insurance. This business is known for its business strategy of gradually reducing monthly auto insurance premiums.

King Price Insurance was founded in June 2012 by Gideon Galloway with initial funding from Francois van Niekerk of Mertech and Stefan van der Walt of Nikon. The company's headquarters are now located at Waterkloof Glen, Pretoria, South Africa.

King Price Insurance provides coverage on a monthly basis, with premiums decreasing in accordance with the depreciated worth of the asset. The company offers monthly short-term insurance products, covering households, buildings, specialty items, cars, trailers, caravans, and all other perils. In addition, the company also reduces the monthly auto insurance premium according to the continuously depreciated value of the insured vehicle.

Since its founding, one of the company's key differentiators is its use of advanced technology and data analytics to optimize processes and provide customers with better services and prices. King Price has entered South Africa's highly competitive insurance market with a customer-centric insurance model. This approach is seen as a business philosophy of King Price which is gaining great traction in the local insurance market. Since then, the company has expanded its personal product lines to include the insurance consumers need, established a business insurance division, and built a thriving base in Namibia.

King Price Insurance is registered as a member of the South African Insurance Crime Bureau (SAICB) and is reinsured by the reinsurer Munich RE. In 2013, King Price was honored to win two awards for Best Short-Term Insurance Company and Best New Company Overall in the 2013 South Africa Service Awards.

At Corinium's first 360 Africa Customer Awards 2019, the insurer was named the best customer experience brand in South Africa. Additionally, it also won the Best Customer Experience Award in recognition of the company's continued innovations in customer experience. Also this year, International Business Magazine recognized King Price as the SA 2019 Most Innovative Insurance Company, SA 2019 Fastest Growing Insurer, and SA 2019 Best Place to Work.

Founded: 2012
Headquarters: Waterkloof Glen, Pretoria, South Africa

Website: https://www.kingprice.co.za/