Santam Reviewed

Santam is a company that was established in Cape Town in the year of 1918. Santam stands for South African Trust and Assurance Company Limited. The company has grown considerably since its inception and currently boasts of assets worth in the region of R17 billion.

Furthermore, the company operates through a highly elaborate and efficient infrastructure throughout the country which is further facilitated by an intermediary network. According to the company’s recent estimates, it has around 650, 000 policy holders on its books.

In addition to being a big name in South Africa, the company also boasts of various interests within other countries. The company has a presence in Zimbabwe, Malawi, Uganda, Tanzania and Zambia.

In a nutshell, the company has come from a small, established company to an enterprise that, as of now, boasts of a market capitalisation of more than 22 percent. The company primarily plays in the short term insurance markets with their targets being commercial, corporate and personal clients.

Here is a series of products that the company offers.

1. Personal insurance offerings:

There are many different short term insurance products that the company offers under this heading. Consider the following:

  1. Car insurance – comprehensive car insurance policies covering all major and minor contingencies.
  2. House contents – covers usual contingencies and unusual contingencies with respect to household contents.
  3. Buildings – comprehensive cover for buildings or home structures.
  4. Personal belongings – full-fledged coverage for all types of personal belongings.
  5. Watercraft – detailed insurance for watercraft of various kinds.
  6. Optional cover – series of additional products such as personal accident cover, 4 x 4 cover, limited bed and breakfast cover and legal costs.

2. Commercial insurance offerings:

Within the commercial insurance offerings of Santam, there are numerous insurance products targeted at different needs. There are insurance products for general businesses and businesses in sectors such as travel and tourism, hospitality, dentistry, medicine, specialists and agriculture.

3. Specialist and agriculture insurance offerings:

The company also offers 13 separate specialist insurance products and four distinct agriculture products.

Santam is a name that is synonymous in the country with comprehensive and flawless insurance cover for individuals, businesses and even specialist requirements.

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