Santam’s Brolink on expansion trail
Santam, South Africa’s largest short-term insurer recently announced the 100% acquisition of the issued share capital of Brolink, a leading insurance administration provider. Santam has now used this acquisition as an opportunity to consolidate the operations of various administration businesses within the Santam stable.
Orico, the administration business previously owned by Indwe Broker Holdings, will be incorporated into Brolink. “We have had a very successful working relationship with Brolink over many years and consider it a leader in their field,” says Peter Olyott, CEO of Indwe Broker Holdings. “We value Brolink’s efficient business and operations track record, its exceptional people and delivery of quality processes and systems,” says Olyott.
Santam has included another of their administrators, Riscor, in this consolidation. The business on platforms other than the Santam IT platform will be transferred to Brolink. This consolidation process will be effective as from 1 October 2014. The Riscor team that will be focussed on business managed on the Santam IT platform (Percitel) will be headed by Pierre Lourens. Riscor will retain its offices in Cape Town, Empangeni and Pretoria.
“The newly expanded Brolink will provide greater scale and sustainability to improve operating costs and efficiencies. Brolink will continue to expand and grow relationships with other insurers to enable us to provide a multi-insurer offering on both personal and commercial insurance,” says Clipstone Webber. “Due to the consolidation of Orico and portions of the Riscor business, Brolink will in future support additional IT platforms. This allows for further opportunities to expand,” adds Webber.
About Santam, insurance good and proper
Santam is South Africa’s leading short-term insurance group with a market share in excess of 22%, over 4000 staff members and 4500 broker partners nationwide, and MiWay as a direct insurer. The company insures most of the Top 100 companies listed on the JSE.
Santam’s competitive advantage is entrenched over 95 years of offering its clients a wide range of short-term insurance products that have been scientifically modelled to suit their needs as well as having the highest claims efficiency in the industry. The company is recognised by its peers as having the most technically competent staff.