Douw Steyn, who passed away at 72, was a visionary entrepreneur whose innovative approach to business led to the creation and growth of several prominent brands. His ability to revolutionize industries, particularly insurance and real estate, cemented his legacy in the business world. Here are five key facts highlighting his entrepreneurial achievements:
1. Pioneering Auto & General Insurance and Selling Insurance Over the Phone
In 1985, Steyn founded Auto & General Insurance, marking his entry into the insurance industry. He was also the first person to sell insurance over the telephone, a move that transformed the way insurance was marketed and sold. This venture laid the foundation for Telesure Investment Holdings (TIH), which expanded its offerings to include various financial services across multiple countries, including Australia, Turkey, and the UK. Brands under his insurance company include:
Auto & General
1st for Women
Budget Insurance
DialDirect
Hippo.co.za (a popular insurance and financial product comparison platform in South Africa)
Viridian Advisory
2. Founder of BGL Group and Comparethemarket.com
In 1992, Steyn established the Budget Insurance Company in the UK, which later evolved into the BGL Group. Under his leadership, BGL launched Comparethemarket.com, a price comparison website that gained widespread recognition through its successful advertising campaigns featuring the meerkat character Aleksandr Orlov.
3. Development of Steyn City
Demonstrating his commitment to innovative real estate development, Steyn invested in creating Steyn City, a luxury residential and lifestyle estate in Johannesburg. Designed to foster a self-sustaining community, the estate reflects Steyn’s vision of combining luxury living with community-centric amenities, including top-tier security, schools, healthcare facilities, and recreational spaces.
4. Global Business Expansion
Steyn’s entrepreneurial ventures extended beyond South Africa, with significant business interests in the UK and other countries. His companies employed over 10,000 people across more than 50 offices globally, underscoring his success in building a multinational business empire.
5. Philanthropic Initiatives
Beyond his business pursuits, Steyn was known for his philanthropy. Through the Douw Steyn Family Trust and his companies, he pledged substantial funds to support various causes, including COVID-19 relief efforts in South Africa, focusing on assisting small businesses and ensuring food security for affected families.
Douw Steyn’s entrepreneurial journey is marked by his ability to identify opportunities, innovate within established industries, and commit to initiatives that blend business success with societal impact. His contributions to the insurance, real estate, and business sectors will remain influential for years to come.
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