By Darren Gilbert

This brand is also arguably the quirkiest too: King Price Insurance, where your premiums decrease every month. And while such madness might frighten off other people, it pulled Bisset in. “Making the move to King Price was absolutely the most terrifying thing in my life,” admits Bisset. “But I had faith in Gideon and I knew that it was ultimately the best move.” Add to this the fact that this was her chance to change the face of the South African insurance industry.

Such an opportunity like that doesn’t come around often. In fact, it’s rare to happen even once in anyone’s career. For Bisset, it happened twice. Up until joining Galloway, Bisset’s career was successful but relatively risk-free. Various sales and marketing roles across different sectors paid the bills while a number of awards grew her reputation as a sales queen. In 2005, Telesure Investment Group, where Galloway was marketing director at the time, got word and headhunted her. Here she worked herself up to general manager of eCommerce and played a direct role in the launch of insurance aggregator Hippo.co.za, a South African first.

However, instead of settling in and reveling in her success, she joined Galloway who left to start King Price Insurance. That was in 2012. Three years down the line, you only need to look at the success of King Price to know Bisset has made the right decision. The insurance brand is close to 75 000 clients strong and employs 530 staff. And it’s only growing stronger, something which is hard to comprehend considering its unique business model.

After all, how can you survive as an insurance company when you allow your customers to pay less each month? Is that even good business practice? According to Bisset, it makes sense. “A lot of people seem to think we are too good to be true. That there is some hook. But there isn’t one. It’s quite simple. Your car is worth less now than when you bought it. If the value of your car changes, then why shouldn’t your premium change too?”

In short, as Bisset and King Price see it, it’s the only fair and logical way insurance should be done.

However, there is more to King Price than its claim to offer the lowest premiums in South Africa. It also comes down to the company brand – referred to internally as the ‘King Price kingdom’, complete with nobles and knights and princes and princesses, which Bisset is particular proud of. “We are working very hard to establish King Price as the coolest brand to work for in South Africa.”

You only need to pay a visit to their offices in Johannesburg to know these aren’t just empty words. Think three floors decked out with arcade games, jukeboxes, foosball tables and random red UK telephone booths. And then there are the slush puppy and popcorn machines for when you need a pick-me-up. It makes you wonder if they get any work done.

Bisset assures they do. “My main aim is to establish King Price as a household name. To get as many customers as possible as quickly as possible. But we want to have fun doing that.” And why not? After all, who decided that insurance has to be all serious and stiff? Bisset doesn’t know.

“We have the credibility. We have the financial backing. We have the legal aspects tied in.” King Price has everything in place to succeed. They also have the marketing queen to steer them there.