Santam has acquired full ownership of on-demand insurtech company JaSure, buying out the 49% stake it did not already own.
Founded in 2017, JaSure operates through an app, competing with insurtech companies such as Naked and Pineapple Insurance.
Clients can purchase insurance for motor vehicles and portable possessions, such as cellphones, laptops, photographic equipment, bicycles, other sports and camping gear, eyewear and musical instruments.
They have the option to switch cover on and off, using the app, based on their needs.
Santam acquired a 51% shareholding in JaSure in 2020.
Santam said the outright buyout would “realise digital offerings for clients across the Santam Group, particularly in its commercial and personal insurance business”.
Edward Gibbens, Santam’s executive head of commercial and personal insurance, said: “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.”