BrightRock: from zero to R2.1bn in premiums
It’s taken 10 years, but the BrightRock team has turned its plan to shake up the life insurance industry into action. Today, the company is the third-largest insurer in new business in SA
Ten years ago, four senior executives at Discovery left the medical insurance group to start a venture of their own, based on a new model for life assurance. Armed with a mantra about living and loving change, Schalk Malan, Sean Hanlon, Suzanne Stevens and Leopold Malan planned to use tech to offer needs-matched products that would allow individuals to shift their financial solutions as their lives change. With that, BrightRock was born.
A decade on, the Sandton-based company employs 700 people, insures 2.8-million and has laid claim to nearly 15% of the total life assurance market in SA. It’s the third-biggest life insurer in new business written by independent brokers, behind only Momentum and Discovery — and then "just by a short little nick", company CEO Schalk Malan tells the FM...