1 min. with a superhero: Richard Neville of Medipet
by Fred on 29/01/08 at 12:54 pm
1 comment
Richard Neville of Medipet SA is an oxymoron: he’s an innovative insurance man. A proven entrepreneur after co-founding the well-known insurance company Murray Clan, Richard is venturing off the beaten track. Three months ago, Richard started Medipet, a medical health insurance for your beloved furry friends. Currently, Medipet is signing up 6 new members each day, and growing fast. Ideate spoke to Rich about his new business…
Richard, tell us about Medipet?
It is veterinary insurance, or medical aid, for cats and dogs. It is the most comprehensive product on the market. We give the owners piece of mind that their pet can be well looked after…and at the same time protect their own pockets.
What made you start this (slightly unusual) new venture?
A friend of mine, Louise Clare Beevers, was working in England as a Veterinary Nurse. On her return to south Africa she saw a great demand for Pet Insurance. I have an insurance background so we got together and developed the company plan. It took us a year in the making, but we eventually got there. We launched in October 2007.
Describe your average day on the job…
A cup of tea to get the day going, then a meeting with Louise to discuss any claims and new clients. Then on the road seeing clients and various suppliers.
What education do you have?
I went to Stellenbosch for a year – should have been four – did not really enjoy it, so dropped out. I then started working for an insurance Brokerage in Cape Town for two years, before leaving there to play rugby overseas. After two years of freezing my ass off, I returned to Cape town and started my own insurance brokerage.
Tell us an animal disaster story…
One of our dear clients’ Boston Terrier fell off their couch and damaged a ligament in the back leg. They had been insured with us for a month. Their bill was a massive R5600. All she paid was her excess of R250. If it was not for MediPet SA they would have paid the full amount. R5600 would have been a massive knock to any household’s cashflow.
Who are your customers?
Anyone that has a pet in South Africa. As long as they are older than 8 weeks and younger than 9 years we take them on. If they’re on our policy before 9 years we will cover them for life!
Richard, what’s Medipet’s secret to success…?
I believe at the core of our business we want to give your pet the opportunity to be fully treated and cared for by your Vet. We realize how much people love their pets and are willing to do anything for them. This filters through to our clients and gives them peace of mind.
Also, our product is extremely comprehensive at a relatively small premium each month. We charge R125 per dog and R115 per cat, and a 10% discount for each additional pet.
What is your best marketing tool for MedipetSA?
We have found the vets to be our best, as clients trust them and listen to what they say. The web has also helped create awareness. We have also been at various dog shows and community-founded projects.
What is the best business lesson you’ve learned so far?
The little things count… big time! People’s animals are not an extension of their families; they’re part of them!
How many people do you have in your team?
Three in our Cape Town branch and one in Joburg.
What is your Big Hairy Audacious Goal for MedipetSA?
To be the best Pet Insurer in the country!
And, finally, a business word of advice to Ideate readers – ?
Never listen to accountants. They will always tell you why your idea won’t work!
[Contact Richard and his team at 0800 6334738, or apply online to insure Lulu, Fifi and Tyke at the Medipet website. ]
Fred Roed is the marketing guy in the Ideate crew. He runs a web marketing company called World Wide Creative and loves writing about people out there doing marketing right. View more articles by Fred.
Tags: insurance companies
