Our Story

All about us

 

BrightRock (Pty) Ltd is a licensed financial services provider underwritten by Lombard Life Ltd. Our team is experienced and passionate about life insurance and the good it can do.

We’re proud to be part of South Africa’s life insurance industry. We’re hoping to contribute to its reputation as one of the world’s most innovative and advanced with our world-first needs-matched life insurance. In fact, we’re working hard to shift the industry for the better with our product that meets both the consumers’ and financial advisers’ needs.

In the digital era, people are collaborating, co-creating and sharing like never before. Consumers want to take charge and customise every part of their world to meet their needs. We’ve set out to build a company that applies these same principles to life insurance cover.

Our Shareholders

Lombard Insurance Group

 

BrightRock’s main shareholder is the Lombard Insurance Group. Lombard was started 20 years ago and today is an established player in both short-term and life insurance.  Lombard has R1.3 billion in assets on its balance sheet and enjoys an A+ rating from Global Credit Ratings for its claims-paying ability.

BrightRock is an underwriting management agency of Lombard Life, a subsidiary of the Lombard Insurance Group, and operates under the life insurance licence of Lombard Life.

Our Reinsurer

Our reinsurance partner

 

BrightRock’s primary reinsurance treaty is with the world’s largest reinsurer, Munich Re. With a proud history of over 130 years in reinsurance, Munich Re is an international leader in its field. The group employs around 11 000 people in its reinsurance businesses around the world. In the 2012 financial year, it boasted gross premium income of €27.8 billion.

Our Structure

With existing life insurance structures, you buy cover in aggregated blocks that grow at a set rate. The cover is priced for the maximum term at the outset – so you pay for future cover from day one. It’s a bit like having to buy lettuce in a single bulk package to cater for all your future salad requirements. With needs-matched cover, your policy isn’t made up of aggregated blocks.

Instead, you tailor your cover – how it grows, how it pays out and when it expires – for each financial need and insurable event.  Needs-matched cover is like being able to assemble a variety of ingredients in exactly the right shape, size and quantity for your individual requirements.

Change letter

At BrightRock, we really, really love change.

 

In fact, our needs-matched life insurance is the first-ever life insurance that is made just for you at the start and then changes as your life changes. We understand that CHANGE in capital letters can affect the course of your life forever, even if it’s just by a couple of degrees. So our aim is to help you cope with the impact that life’s big-deal changes have on you, your family and your pocket. We know that Change is intimidating, but we believe the only way to control its impact – and uncover amazing opportunities in the process – is to face it head-on. That’s exactly why we started BrightRock and why we’re working every day to change the way the life insurance works. It’s also why we’re proud to bring you this Letter from Change, an inspiring video that will help you LOVE CHANGE too.