Rating structure and accessibility - To make the product practical, IBG designed a banded structure of cover ranging from R20,000 up to R350,000. Individuals and small groups of fewer than 20 are underwritten on an individual basis, while groups larger than 20 enjoy discounted rates.

The product has also been extended to meet emerging risks. Today, Profsave includes cyber and directors and officers (D&O) extensions, provided those covers are already embedded in the underlying PI policy. For large corporate brokerages, some with hundreds of representatives, IBG has tailored wording to align with compliance and operational requirements.

Sustainability through discipline - Ivan attributes IBG’s sustainability to its disciplined approach. From the outset, the company introduced a three-month waiting period to allow cash flow to build and to avoid adverse selection from clients with pending claims. More importantly, IBG has never compromised on its rates, resisting pressures to undercut in pursuit of market share.

This long-term strategy has paid off. Twelve years on, Profsave is a recognised leader in its niche. Attempts by competitors to replicate the model have largely failed, often because they underestimated the volume of claims in the PI space or diluted their focus by trying to spread too broadly.

Distribution through brokers - A defining element of Profsave’ s success has been its distribution strategy. IBG does not sell directly but works exclusively through intermediaries. By training and supporting brokers, Profsave has become a valuable upsell within existing PI books, giving brokers a simple yet impactful way to deepen client relationships and increase revenue.

Brokers have responded positively, appreciating both the product’s uniqueness and its role in reducing client vulnerability. Where resistance has arisen, for example, from some PI insurers questioning whether an excess waiver might affect claim validity, IBG has defended its position with legal opinion and consistency, ultimately strengthening credibility.

Standing out in the market - Despite the natural challenges of building something new, Profsave has become, in Ivan’s words, “the go-to place” for PI excess waiver. While a handful of alternatives exist, few are visible or sustainable, leaving Profsave as the dominant player. For brokers, this uniqueness offers reassurance: when their clients need this type of cover, IBG is the first and often only port of call.

Profsave’ s story underscores the value of niche innovation in insurance. By focusing on a real problem, the burden of PI excess, and by refusing to compromise on core principles, IBG has built a product that is not only affordable and practical but also enduring.

For professionals, Profsave provides peace of mind at the moment of greatest stress. For brokers, it is an opportunity to strengthen client trust and add tangible value. And for the industry, it is a reminder that specialised solutions, built with discipline and vision, can thrive even in a crowded market.