Camargue celebrates 18 years of specialised insurance products and risk management services.
18 years ago, on this day [16 August 2019], Camargue Underwriting Managers made history by selling its first policy via satellite phone at the mount summit of Mt Kilimanjaro’s Uhuru Peak. Never ordinary in its approach, this specialist insurance underwriting manager was launched with the single-minded vision of heating up the industry with its dynamic insurance solutions. This is exactly what it has been doing since that historic day 19, 350 feet above sea level.
Tracing the company’s history, like most new businesses, there were times in the first two years where closing the doors became a very real possibility; where cash flow and other typical entrepreneurial challenges all had to be overcome. Coupled with this - the start-up opened its doors at the worst possible time – post 9/11 and after the Dotcom crash.
It is crazy to think but that in August 2001 the first Apple iPhone was still 6 years away and the following, now household companies, didn’t exist – Facebook, WhatsApp, Instagram, Twitter and Uber.
Camargue started out small with less than five employees and today, the result of determined and prolonged effort, 50+ employees have permanent positions. In excess of 1, 300 Financial Services Providers sell our specialised insurance products.
Recognising at the outset that it would be impossible to take on the big insurance companies; Camargue pursued a uniquely sustainable financial business model – one that has become known as the “M³ principle” and is now synonymous with the company. Camargue turned the traditional insurance model on its head when it implemented its M³ principle – to Manage, Mitigate and Migrate the business risks of each of its clients, through legal professionals, risk managers, arbitrators and risk analysts.
Increasing the understanding of specialised insurance products was a challenge which was strategically overcome through the re-launch of the now Camargue Academy in 2018. Today our Academy offerings include onsite training, national roadshows, and eLearning through our Camargue Academy online. Since its inception in 2010, over 23, 000 LAB seats have been filled; a huge commercial success that has also contributed to the growth of Camargue. Camargue was ahead of its time as continued professional education was only made compulsory by FSCA in 2018.
Dramatic changes are reshaping the insurance industry however, a few things will stay the same, customers will want better service, better coverage and better premiums. We will continue to put our customers first.
The achievements of an organisation are the results of the combined efforts of every individual and support of all our insurance partners. A huge thank you to each broker and customer for allowing us to serve you and to all Camargue employees for your hard work, your ingenuity and your passion.
Happy 18-year anniversary!!