King Price Frequently Asked Questions

African Phoenix Investments Limited (APIL), who held 100% of Stangen, decided to dispose of Stangen in 2019 in pursuit of an alternative investment strategy. The APIL board supported a view that Stangen, with its strong management team and life insurance expertise, required a strategic partner that can help facilitate access to broader distribution channels and a larger customer base. King Price, as a leader in financial services, will enable Stangen to scale more quickly and more efficiently. 

Given the changing landscape of financial services in South Africa, Stangen believes that partnering with a culture-driven company, that’s constantly innovating and always putting customers at the forefront of everything they do just makes sense. 

We are hungry to grow and want to take on the larger traditional players by partnering together to continue investing in our great country, which is a vision supported by our new shareholder.

King Price has always dreamt of an innovative life insurance proposition that can disrupt the market. Through their acquisition of Stangen, King Price can marry their established brand and creativity with the awesome business that has been built by the highly accomplished Stangen team which is much easier than trying to get a brand-new life insurance business off the ground (starting from scratch). Stangen already offers slick and competitive life insurance products, with digital customer experiences backed by new generation systems that other companies are jealous of.  Stangen has recently made substantial investments in new systems and operational capabilities, making it a perfect digital fit. 

The Stangen management team has also shown resilience and brought some creativity to a saturated market, positioning us best to move quickly and launch King Price Life Insurance, bringing the same “no-nonsense” solutions to King Price customers’ life insurance needs.  Stangen is a great complementary fit for the King Price brand and its young, dynamic leadership team is well-geared to launch King Price Life!

King Price launched a truly revolutionary car insurance product back in 2012. Rather than charging policyholders more each year for their car insurance, King Price decided to offer a policy that decreased premiums on a month-to-month basis. 

Their logic was simple. “If your car depreciates in value every month, why shouldn’t your car insurance premiums reduce?”

Fast-forward seven and a bit years later, and under the steadfast leadership of  Gideon Galloway (the original founder) the company has grown from strength-to-strength. 

King Price has fast become a leader in the South African direct insurance space, and we are looking forward to being part of the loyal and innovative staff that calls the kingdom in Pretoria home.

Need more information? Why don’t you visit the King Price website.

King Price’s insurance cover options can be broken down into 2 categories:

1. Personal 

2. Business

Here is a list of all their comprehensive personal cover options: 

• Building insurance 

• Home contents insurance 

• Portable possessions insurance

• Motorbike insurance 

• Caravan insurance 

• Trailer insurance 

• Watercraft insurance 

• Bling cellphone insurance 

Here is a list of all their comprehensive business insurance products:

• Agriculture 

• Retailers 

• Light engineering 

• Building contractors 

• Franchises 

• Manufacturers 

• Fitment centres 

• Office type risks 

• Pharmacists 

• Churches and schools 

• Steel product manufacturers & dealers 

• Plumbers and electricians 

• Hairdressers and beauty salons 

• Vet assist 

For more information, please visit the King Price website.

Nothing.  As a customer, your Stangen policy won’t be affected by this change in any way. Your premiums will remain the same and so will your benefits. The ownership of our company has merely been transferred to a new shareholder who is prepared to invest in your future.  We will manage both brands, Stangen and King Price Life, from the same legal entity run by the same management team and staff.

In the coming weeks, we will get in touch with you to bring you up-to-speed on further developments.   

For now, all you need to do is to celebrate the exciting times ahead!