Santam rebrands insurtech firm after buyout
Local short-term insurer Santam has rebranded its insurance technology (insurtech) company from JaSure to Santam Switch.
After initially acquiring a 51% shareholding in JaSure in 2020, Santam finalised the acquisition deal by buying the remaining 49% equity in June 2022.
In a statement, Santam says the rebrand forms part of its multi-channel strategy, to reach new market segments through digital insurance solutions.
Atang Matebesi, CEO of Santam Client Solutions, explains it aims to accelerate a fully-digital solution for Santam and position the brand for growth within a younger market segment.
Additionally, the name change to Santam Switch aligns with the on-demand product features that enable customers to switch their insurance on and off in the Santam Switch app.
“At Santam, we continually strive to add value to our customers, and by complementing our intermediated broker business with a digital solution with a differentiated DNA, we have done just that. This solution will drive broader appeal to new market segments who prefer to engage digitally while customising cover to suit their unique lifestyle needs.”
Santam Switch offers digital client solution cover for motor vehicles, single home items and portable possessions such as cellphones, laptops, photographic equipment, musical instruments, bicycles and other sporting and camping gear.
Santam notes the insurtech firm was founded with a product vision to empower clients to choose what they want to insure and when, through its intuitive app interface.
“Offering tech-based bite-sized cover for specific risks supports a more inclusive approach to driving insurance and access to previously excluded markets,” concludes Matebesi.