Well-established underwriting management agency (UMA) specialising in short-term insurance for heavy commercial vehicles in Southern Africa

South Africa
Financial; Transportation
Client Code: BN000049177
Turnover (Management): R23,740,299
EBITDA (Management): R4,880,460

The Company is a well-established Underwriting Management Agency (UMA) specializing in short-term insurance for heavy commercial vehicles in Southern Africa. As an intermediary between insurance brokers and clients, the Company provides short-term insurance coverage for small- and medium-sized trucking companies (SMEs). The Company differentiates itself in the marketplace through its extensive insurance portfolio, which is not managed on behalf of anyone else, but owned and run entirely by the Company and is part of the sale.

Key Aspects
  • Comprehensive insurance portfolio of immense economic value, owned by the Company
  • Economic interests accrue at 90% of the insurance portfolio to the Company
  • Expertise in underwriting commercial vehicle insurance with a reputation for integrity and prompt claims payments
  • Loyal client base of SMEs in the commercial vehicle sector, with a focus on heavy commercial vehicles
  • Established infrastructure, including regional offices and an extensive network of intermediaries (brokers), enabling efficient underwriting, claims management, and customer service
  • Promise of following the Agreed Value principle for vehicle valuations, ensuring payment of the agreed value in the event of a total write-off
  • The Company is currently migrating to a new underwriting system, awaiting a new provider to be approved
  • Collaborating with other insurers or UMAs for expansion in new products
  • Expanding into new industries, such as building insurance, risk management, company insurance, and others
  • Driving Agreed Value for vehicles through a valuation hub, to provide the most accurate vehicle valuations possible
  • Growing roadside assistance pilot program, with committed focus on immediate assistance to the drivers
  • The Company’s head office is based in Johannesburg with regional offices in Cape Town and Durban.
Current Markets
  • The business model utilises intermediaries or brokers, to incept policies for the Company and offer products and services to meet the specific needs of policyholders.
  • The Company targets small and medium-sized enterprises (SMEs).
  • Several broker applications are received per month, with a select few being accepted. These applications undergo thorough checks and assessments based on various criteria before brokers are on-boarded.