Specialised back-office administrator DigiCall Solutions has made its first major acquisition by acquiring a controlling stake in Fogi Online Geyser Installation, South Africa`s largest administrator and service provider for plumbing-related household insurance claims.
"DigiCall is a leader in the glass claims market thanks to our integrated technologies for back-office processing and the depth of our industry knowledge," says DigiCall MD Willem de Clercq.
"We`re not just an administrator or a call centre, we have innovative back-office solutions that offer real value to the insurance industry and its clients. When it came to making an acquisition, we deliberately sought out a company that has the same ethos and similar industry-specific technical skills."
Fogi Online Geyser Installation handles homeowner insurance claims for South Africa`s biggest home insurer, as well as property managers and brokerages. "They have very sophisticated automated processing systems integrated with a Web interface and SMS communications, as well as a comprehensive database that`s very valuable to insurers from an underwriting point of view," says De Clercq.
"They also have excellent performance monitoring functions, with checks and balances to give peace of mind to both the insurer and the insured. For example, they`re able to monitor geyser replacement rates per contractor, and immediately identify contractors who are doing unnecessary work."
De Clerq says Fogi`s innovative systems, combined with its industry background and understanding of the supply chain, made it an attractive proposition. "The acquisition paves the way for us to expand both operations and develop other products for the homeowners` insurance market."
Giovanni Acquisto, Fogi`s founder, says the company was very pleased to find a partner that shared its vision. "We both use deep industry knowledge and the most up-to-date technology to deliver efficiency, service and cost savings," says Acquisto. "It makes perfect sense for us to get together to create an administration service provider that will benefit the insurance industry."
Fogi is DigiCall`s first major acquisition but not, says De Clercq, its last. "We`re quite open about wanting to be the finest claims administrator in the market," he says. "We aim to develop systems and products that can settle claims faster and more efficiently and reduce direct costs and administration overheads for the insurance companies. This will ultimately reduce consumer premiums and improve service levels."
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