In a significant move within the insurance industry, Santam has revealed the transformation of its app-based digital client solution, now bearing the name Santam Switch. The decision comes in the wake of Santam's complete acquisition of JaSure InsureTech exactly a year ago, signalling a strategic shift in their approach to enhancing customer experience and expanding their market reach.
As part of its multi-channel strategy, Santam is accelerating its growth through a variety of distribution channels and business models to reach new market segments through new age digital insurance solutions.
According to Atang Matebesi, the chief executive officer of Santam’s client solutions business, the rebrand accelerates a fully digital solution for Santam and positions the brand for growth within a younger market segment, while leveraging Santam’s established brand, underwriting expertise and track record.
“The Santam Switch identity combines the best of JaSure’s energy and youthfulness, with the trust and credibility of the Santam brand to successfully resonate with Millennial and Gen Z consumers,” said Matebesi.
He said the name change to Santam Switch aligns perfectly with the on-demand product features that enable customers to switch their insurance on and off in the Santam Switch app and signifies the product’s simplicity and ease of use.
“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,” he added.
Santam Switch is an on-demand digital client solution offering instant 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, among others.
Previously known as JaSure, the company was founded in 2018 with a product vision to empower clients to choose what they want to insure and when, in a seamless user experience through its intuitive app interface.
Santam initially acquired 51% of the insurtech in 2020 and completed the acquisition by obtaining the remaining 49% equity in June 2022.
“Offering tech-based bite-sized cover for specific risks supports a more inclusive approach to driving insurance and access to previously excluded markets,” said Matebesi.
