AMPLE INSURANCE BROKERS
AMPLE INSURANCE BROKERS
Setting the benchmark for South African insurance PRODUCTION: Benjamin Southwold
Ample Insurance Brokers has never been shy in its ambition to set the benchmark for South African insurance. A short term broker offering clients a range of products spanning motor, household, homeowners and business, Ample prides itself on peerless service that suits every individual’s needs. 2 / www.enterprise-africa.net
INDUSTRY FOCUS: INSURANCE
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“We consist of a group of young professionals that work together to provide our clients with nothing but the best service,” Ample outlines from the off. “We believe that each client has his/her own individual insurance needs and our Professional Team will assist our clients to fulfil every requirement.” This belief has driven Ample to develop a range of different options to suit every possible need. Ample lives by a set of ideals that have so far enabled the business to pass the 10-year mark, securing continual growth and expansion along the way. Integrity is at the top of the list, and rightly so - as Ample puts it, this stands for, “honesty at all times and in all places. We do what is right and let the consequence follow, with no exceptions.” When putting trust in an insurance broker, it is vital to know that everything will be done in the event of often traumatic circumstances
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arising, and Ample recognises this in its policy of going the extra mile for both co-workers and for clients. “We put value towards your time, compassion towards your circumstances and bring convenience to the table,” the company sums up. “We build a personal relationship with each individual.” Ample’s relatively diminutive, but superlatively committed, employee base is made up of a group of professionals who have shown themselves worthy of such decorations as SA Underwriters New Brokerage of the Year award, and the Auto & General Hero’s Platinum award. “It has been our company policy not to head hunt,” detailed Founder and Managing Director, Eileen Stoffberg, when we last caught up with the business. “We invest in people that have potential and help them get the experience and skills required. 95% of all Ample staff are under 40, so youth development is a great part of our business.”
THE BROKER ADVANTAGE With so many ways now prevalent to buy insurance, it is still difficult to argue against using an insurance broker’s expertise to help make the best-informed decisions. Not only can they provide expert, unbiased advice on individual insurance needs, unlike other providers who are focused purely on the sale, with a broker the client’s interests come first, setting it apart from all other insurance options. “Think a middleman’s a waste of time and money? Think again,” Ample warns. “You’ve heard that cutting out
// WE ARE LIGHT AND NIMBLE AND CAN EASILY ADJUST TO CHANGES IN THE MARKET //
Chat to your broker today to ďŹ nd out how we can take care of your insurance needs or contact us to become a Partner that works with you, to provide value to your Clients.
INDUSTRY FOCUS: INSURANCE
an insurance broker will save you money but contrary to what advertisers would like you to believe, studies have proven that broker pricing is, in reality, cheaper than direct. “Using a broker means reducing risk, which is why traditional insurers provide preferred or special rates to brokers. The reason for this is that brokers are qualified, experienced and equipped to select the right policy for you, ensuring that you don’t end up in a situation where you are under-insured.” The personal touch is another factor that cannot be replicated by going direct for insurance. Alongside the often-limited knowledge and limited range of products at the disposal of an operator in a call centre, sorely lacking is the service that comes from looking at individuals and giving unique insurance solutions, tailored to specific needs.
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Opportunities for local brokers like Ample with such specialist knowledge and unerring focus on service delivery remain widespread, as Stoffberg outlined. “I can attribute Ample’s success to ruthless persistence and outstanding people who are self-motivated and do not need to be managed,” she explained. “We are well rounded and ensure we understand the needs of our clients. We are light and nimble and can easily adjust to changes in the market. I believe this sets us apart from our competitors. “I believe that in general people want value for their hard-earned money, regardless of the state of the economy,” she opined. “As a broker, we have the benefit of being able to offer the customer many different products from different insurers as opposed to a direct insurer which can only offer one brand.”
TECHNOLOGICAL REVOLUTION “Organisations operating in the insurance industry are faced with working in an environment that is rapidly changing and increasing in its complexity,” opens PwC South Africa in its look into the state of the sector today. “New market entrants, changing customer preferences and market erosion across product lines demand creative approaches to product development, and a willingness to keep
// AS A BROKER, WE HAVE THE BENEFIT OF BEING ABLE TO OFFER THE CUSTOMER MANY DIFFERENT PRODUCTS FROM DIFFERENT INSURERS //
AMPLE INSURANCE BROKERS
up with the rapid changes in technology.” Amid a somewhat chaotic environment, with established players constantly being challenged by younger, disruptive upstarts, there is much opportunity for those that can innovate in line with the market needs. “We are a very fast paced innovative company,” said Stoffberg of the company which has built a reputation for being trustworthy, innovative, modern and giving personal attention. “We adapt together with our clients’ needs.”
// WE DO WHAT IS RIGHT AND LET THE CONSEQUENCE FOLLOW, WITH NO EXCEPTIONS //
This willingness to shift and change, particularly in a digital regard, may well be key to Ample’s next period of dominance. “The rise of technology and digitalisation is fast becoming a significant driving force in several industries globally, including the short-term insurance industry,” reports bizcommunity.com. “The industry and consumers are increasingly shifting from the traditional models of insurance, and gravitating towards more customercentric, digital solutions. “The South African insurance industry has been relatively slow in terms of digital transformation,” it continued. “However, over the last few years, some of the key short-term insurance players have embraced technology to improve internal operations as well as customer experience.” With Ample’s dedication to peerless service delivery and history of embracing innovation, these
latest developments will surely be warmly welcomed. “In addition,” the report concludes, “digitalisation is upending the traditional business model of the insurance market from a productcentric approach towards more of a customer-centric approach. As a result, more market players are making use of emerging technologies to centralise their product-offerings around the customer and to improve customer experience.”
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December 2019
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DECEMBER 2019