Great risk, great reward
When the opportunity to shake things up and work with likeminded people arose, Braam Vermeulen couldn’t resist. Three successful years later, the cliché ‘with great risk comes great reward’, rings true.
13 September 2019 | Business
In only three years, Braam Vermeulen and his two other founding partners have painted Namibia red.
With an innovative business model, lower insurance premiums and reliable service, they now boast 8 000 clients, 70 employees and six branches across Namibia.
In his position as chief financial officer (CFO) at King Price Insurance, Vermeulen has one goal in mind: Helping the company become the preferred insurer in Namibia.
“But to have fun while doing it,” he adds.
Having fun and staying motivated is not difficult when you’re working at King Price, according to Vermeulen.
“We have a great bunch of people, with awesome attitudes. You don’t search for motivation, it finds you.”
Vermeulen admits there’s a lot of moving parts when it comes to looking after the finances of an insurance company.
Finding the perfect balance between the internal aspect, like capital management or reinsurance structures, and the external aspects, like the current economic climate or regulatory changes, is quite challenging at times.
But according to him, things could not go any better for the company that celebrates its third birthday this month.
“Since we’ve opened our doors, we’ve had continued month-on-month growth, which is incredibly rewarding to experience; especially at a time where most businesses are struggling,” says Vermeulen.
As CFO, Vermeulen is involved in all aspects of the business, and really enjoys finding solutions to tough challenges.
“I don’t stress too much. I believe that you need to control the controllable. If you can fix or change an adverse situation, then do so, but if you can’t, then learn from it. Stressing about it won’t change the outcome, it only fogs up a perfectly clear mind,” Vermeulen explained.
Although King Price takes up most of his day, Vermeulen is also an avid cyclist, which helps him to manage his stress and stay healthy. Family time is his top priority, which he spends with his wife and two children.
When it comes to choosing a career, he believes there is no right or wrong answer.
“I think it’s more important to have a positive attitude and a willingness to learn,” Vermeulen said.
According to him, he’d rather employ someone that wants to learn and has a great attitude, than a person with a bunch of degrees, but who’s unwilling to learn or adapt.
What is the best piece of advice he’s ever received?
“Things never turn out quite like the original plan and spreadsheet, but with the right team and attitude, things can always be fixed.”
Pic 1- Braam Vermeulen is the chief financial officer (CFO) at King Price Insurance.