Dotsure joins the big leagues.
Today, one of the most important insurance industry transactions of 2021 takes effect: the deal between Dotsure and Hollard Insure, the Hollard group’s short-term insurance division.
Following the approval by the South African Reserve Bank’s Prudential Authority earlier this year, Hollard’s official transfer of a large portion of non-life personal insurance lines to Dotsure takes effect.
Dotsure will become the insurer of the transferred policies and provide policyholders with cover in terms of those policies. All the terms and conditions of the Hollard policies will remain the same, except that Dotsure will become the insurer of the policies.
In return, Hollard will increase its shareholding in the Badger Group, of which Dotsure is a wholly owned subsidiary.
Part of the good news is that policyholders will retain their existing relationships and continue to work with the same people. No jobs will be lost through the deal, with an agreement between Hollard and Dotsure that Hollard staff currently working on that part of the business will transfer to Dotsure and no employees affected by the transaction will be retrenched for a 24-month period from the date of implementation
“We’re delighted about our partnership with Hollard Insure,” says Dotsure Chief Operating Officer David Roache. “Although Dotsure is best known as a pet insurer, we’ve been doing Personal Lines and Commercial Lines for a long time. We like to say that we protect everything that people care about.
With this deal, we’re gaining the scale that will let us take on the Goliaths in the South African marketplace – and that’s very exciting.”
For Hollard Insure, the Dotsure agreement means that its direct insurance customers will continue to receive the service excellence that they are used to and deserve.
“We are excited about this opportunity and what it means for our Insure customers. It takes our partnership with Dotsure to a whole new level,” comments Willie Lategan, CEO of Hollard Insure.
“This transaction with a specialist and tech-savvy direct insurer, means that our direct customers will continue to enjoy the convenience and service they have always received. Our staff will continue to grow and develop. And it gives Hollard a significant interest in a specialist direct and pet insurer, an attractive, growing and competitive industry.
“Certainly, therefore, this deal creates a win-win-win for us, for Dotsure and, above all, our direct customers.”
Policy holders with queries can direct them to Dotsure on 0861 368 7873
Roache says he is confident that policyholders will find a happy insurance home in Dotsure.
“We’ve built our business on superb, disruptive insurance products and world class service. Our customers and staff are the Dotsure family – and family is always there for you. To our new policyholders, therefore, we say emphatically: welcome to the Dotsure family!” says Roache.