Santam Announces A 100% Buyout Of Insurtech Trailblazer, JaSure
Santam Announces A 100% Buyout Of Insurtech Trailblazer, JaSure. South African financial services company Santam has announced a 100% buyout of insurtech trailblazer JaSure. The company said the buyout is a significant growth enabler, that will realise digital offerings for clients across the Santam Group, particularly in its Commercial and Personal (C&P) insurance business.
“We believe we can open up the potential for increased value-add to our clients and the Santam Group through a 100% ownership. We aim to leverage the existing and powerful client experience and younger market reach of JaSure, while maximising the Santam efficiencies and wider distribution capability, including the Sanlam Group,” Edward Gibbens, Santam’s Executive Head of the C&P insurance business said
JaSure offers digital insurance to clients, effectively empowering them to choose what they want to insure and when to do so. The insurtech company is app based and provides an exceptional buying journey for insurance for motor vehicles and portable possessions like cellphones, laptops, photographic equipment, bicycles, other sports and camping gear, eyewear and musical instruments, among others. Clients can purchase insurance instantly for an individual asset, with the option to switch cover on and off, using the app, based on their needs.
Santam is the leading general insurer in South Africa with a market share of more than 22%. The company provides a diverse range of general insurance products and services in southern Africa and internationally through a network of 2 700 intermediaries and direct channels. It serves more than 1 million policyholders who range from individuals to commercial and specialist business owners and institutions.
