Santam partners with insurtech company JaSure
South African short-term insurer Santam has invested and partnered with on-demand insurance technology (Insurtech) company JaSure. The Insurtech company offers digital, on-demand insurance to clients, effectively allowing them to choose what they want to insure and when to do so. The partnership is effective from 1 January 2020. JaSure will operate as a juristic representative on Santam’s FSP license.
JaSure’s offering is app based and provides on-demand insurance for portable possessions like cellphones and laptops, photography, bicycles, other sports gear, eyewear, camping equipment and musical instruments. Insurance can be purchased for an individual item for a specific period of time, and the cover can be turned on and off at the client’s discretion.
Andrew Coutts, head of intermediated business at Santam said: “We are very impressed with JaSure’s new approach to insurance that uses technology to reduce complexity, cut costs and reach new markets. We look forward to bringing it to our existing and new Santam clients of the future.”
While JaSure’s offering will initially be targeted to affinity groups through digital channels, discussions are in progress to understand how intermediaries can access and leverage their solutions.
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