Momentum Insure’s Journey: Insights from CEO Brand Pretorius

Momentum Insure’s transformation journey, spearheaded by CEO Brand Pretorius, is a testament to resilience and strategic foresight. We caught up with brand to find out more about this transformation.

Brand says that since the acquisition of Alexander Forbes Insurance in 2019/2020, the company has faced unparalleled industry challenges, including riots, a global pandemic, shifting weather patterns, and persistent inflation. However, through disciplined execution of its strategy, Momentum Insure has achieved impressive financial performance, cementing its position as a leader in the retail short-term insurance sector.

At the heart of the turnaround lies the focus on claims ratio optimisation. Recognised as the largest profitability lever in the industry, Momentum Insure implemented a five-point plan that delivered measurable improvements. Complementing this, the company prioritised cost reduction, digitalisation, and the integration of data-driven analytics to streamline operations and enhance service delivery. Brand notes that these initiatives have laid the foundation for long-term sustainability and innovation.

The company’s relationship with intermediaries remains pivotal. Momentum Insure continues to champion the role of financial advisors, emphasising the importance of embracing technology to provide tailored advice. Brand highlights that intermediaries are not only crucial for growth but also in addressing emerging risks and enhancing data quality—a cornerstone for risk pricing and management.

In an industry marked by economic stagnation and increased competition, Momentum Insure is committed to growth while maintaining profitability. Future plans include further investments in digital tools and analytics, ensuring products remain accessible and affordable. As Brand envisions, the partnership between insurers and intermediaries must evolve to meet the complexities of modern risk management, ensuring success for all stakeholders involved.  

Key Points

• Momentum Insure acquired Alexander Forbes Insurance in 2019/2020.

• Despite challenges, the company achieved significant profitability and growth.

• A five-point plan focusing on claims ratio improvement drove success.

• Key challenges include climate change, inflation, and infrastructure issues.

• Digitalisation and data analytics are critical areas of focus.

• Strong partnerships with intermediaries are essential for future success.

• Momentum Insure emphasises the evolving role of financial advisors.