Over the years, we have learned that partnerships only work when both parties have the same value systems! This is what makes our new partnership with Naked Insurance so special!
A little while ago, I got a call from a guy called Ernest North who he told me that he’s in the insurance industry but I mustn’t hang up because he’s not trying to sell me anything. Instead, he had a great idea that he wanted to share with me. I had a bit of a laugh and then promised that he still had at least another 15 seconds before I ended the call.
Ernest went on to carefully explain to me that Naked Insurance is actually a small startup that has a totally unique business model compared to other insurance companies and after doing some research about Suits & Sneakers, he believed that we were both trying to change our industries for the better.
That call led to a few meetings and now I’m writing this blog post to tell you the following:
Naked Insurance has decided to invest in the development of our online university and in turn, we will share the Naked Insurance story with our audience.
WHY ARE WE DOING THIS?
Because the world is changing. More and more companies around the world are starting to wake up to the idea that doing good business is the only way to do business.
In this way, Naked Insurance and Suits & Sneakers are the same kind of company: We are both small startups that are trying to change our industries for the better, and we also see our businesses as vehicles to bring about real change in this beautiful country.
I personally started Suits & Sneakers to help people, companies, and countries be better versions of themselves through the medium of informal education. Education really is the most important tool we can use to change the world but the current version of education is outdated. If we are to achieve our goals then we have to reimagine education from the ground up.
But I don’t only want to reform education for a profit. I also believe that it is my duty to use Suits & Sneakers as a tool to bring quality education to young people around the world who need it the most but can’t afford it.
After hearing Ernest explain how Naked operates, I realised that we have the same value systems and that’s when I knew we had to do something together!
SO HOW IS NAKED INSURANCE DIFFERENT?
NAKED LEADS WITH TECHNOLOGY FIRST
Naked Insurance is actually a technology company that sells car insurance without talking to anyone. All interaction with Naked is done via website or mobile app and you can get a FINAL price (not an indicative price like others give) in under 90 seconds. Like it? Click pay, and cover starts instantly. This means Naked is built on automated processes, without call centres. Lower costs = lower premiums!
You can even pause your accident cover via the app when you go away for a few days and save some money. You are still covered for theft but half the risk is negated because your car is parked for the time you are away.
NAKED HAS RE-ENGINEERED THE CAR INSURANCE MODEL!
Almost everyone has a horror story to share about an insurance company that’s because of how they’re structured. In most cases, when an insurance company denies your claim, their bottom line increases. Naked Insurance decided to reimagine their business model so that they can really have their customers’ back. This isn’t just another insurance company with a different marketing angle.
Naked only take a flat 20% of all premiums to cover their running costs and hopefully some profit. The other 80% is for settling claims. Any money left over goes to a special cause or charity supporting positive change in South African communities rather than growing insurance company profits. Naked have structured it in such a way that they are legally not allowed to touch this money. This means Naked can’t make more money by paying out less, so they have no reason to make claiming difficult. And there are no hidden agendas. That’s why they’re called Naked.
NAKED BELIEVES IN PARTNERSHIPS RATHER THAN ADVERTISING!
One of the major reasons Ernest and I hit it off is because we both believe that simply shouting at your customers is the worst thing you could do. Instead, Ernest told me that Naked wanted to use their marketing budget to make a real difference and then document the process which is why they decided to invest in developing our online university. This way, both companies can show the world this money is going toward something that makes a real difference rather than creating cute marketing slogans and empty promises.
SEE HOW THEIR SYSTEM WORKS AND GET A QUOTE!
It’s not that you have to swap over to Naked Insurance immediately but I do believe we should reward companies that prioritise adding value to their customers by at least having a look at what they offer.
I also believe that we should back small businesses when they try take on the big boys in an industry that hasn’t changed in decades. And lastly, let’s back companies that use their resources in an attempt to make the world around them a better place.
Remember, it’s around 90 seconds or less to GET A QUOTE FROM NAKED INSURANCE!