Telesure Holdings |
The Telesure Group is a leading insurance group in the United Kingdom,
Australia and South Africa. Across these countries it has more han 3.5 million
policyholders.
The Group has an annual turnover of R15 billion with net assets of R4.2 billion.
In South Africa it owns the following well-known brands:
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The South African Short-Term Insurance Market |
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South Africa has an estimated population of 47 million.
There are ± 5.4 million vehicles registered on South Africa's roads.
The short-term insurance market comprises ± 3.5 million motor and
household policies with an overall value of R25 billion.
The market itself is well established, with currently limited organic growth.
This will, however, change over time as more and more South African
citizens enter the mainstream of the economy. The long-term growth
potential is therefore positive.
On the other hand, the market is extremely buoyant because of
the high churn. This has little to do with client satisfaction or service.
Insurance for most consumers remains a grudge purchase and offers of
lower premiums, cash back, et cetera, do prompt many of them to shop
around.
It is currently estimated that churn runs at around 3% per month. This
is therefore where the real new business opportunity lies. For astute
marketers there is a real opportunity to grow market share.
The simple fact of the matter is that millions of South Africans
are buying motor and household insurance every year. Affinity
marketing provides the opportunity to buy brands that they know through
organisations that they trust. |
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