Santam announced that it will buy out JaSure, the on-demand insurance fintech, of which it already owns a 51% stake. Santam said the buy-out is a significant growth enabler, which will increase its digital offerings to new and existing clients, particularly in its Commercial and Personal insurance business. Santam said this will allow it to reach the younger market which now makes up a big portion of the potential client base for financial services in South Africa. This will add to Santam’s market share, which is currently over 22%. JaSure, founded in 2017, operates completely digitally through an app and competes with other insurtechs such as Naked and Pineapple.
