MMI takes the no-frills route to winning back market share
Boss and his deputy sit in spartan Centurion digs, choosing to spend on stuff that keeps staff motivated
MMI is arguably not be the most exciting of SA’s big long-term insurers. But the Momentum head office in Centurion is full of surprises.
Centurion may not be the best place to call home when most of your competitors have shiny high-rise establishments in Sandton. MMI initially wanted to move its head office to The Marc precinct in Sandton, which it owns. Cool heads prevailed and new management instead decided to rent out The Marc and stay in Centurion to save money.
Even though MMI was the only life insurer to post an increase in profit in the six months to December 2018, it still has a long way to catch up with peers. Their net profits are multiples of the R1.6bn MMI posted for the interim period.
MMI’s new management seem to know where to prioritise spending to lift the company out of the doldrums. There is no executive floor at the Momentum building where CEO Hillie Meyer and his deputy Jeanette Marais sit. Meyer has a small glass office on the ground floor and Marais is on the floor above him in an open plan setup with no partitioning.
It is a sight you rarely see in the corporate world. Instead, MMI seems to be spending on things that will keep its staff motivated. If it gets this right, having staff with a winning attitude (especially sales agents) might just be what the company needs to win back market share.