Shored up by new deals signed with the Benfield Group and Santam, Bluesure is planning to extend its business to include all personal lines

Company name: Bluesure Limited address: 55 Bishopsgate, London, EC2N 38D

Main switchboard number: 0207 578 7439

Fax: 0207 578 3939

Email:
Victoria.baker@bluesure.com

Main lines of business: Bluesure's product is an all-in-one personal insurances package policy sold via brokers and directly to consumers

Financial statistics:

  • £12m gross written premium

  • Bluesure is backed by Santam and The Benfield Group

  • Santam pioneered the development of the packaged insurance product in South Africa, the forerunner to Bluesure's offering in the UK

  • Santam is the leading short-term insurer in South Africa with a market share of 30%. It has assets totalling more than R7bn, a countrywide infrastructure and broker network and more than 800,000 policyholders. Santam holds strategic investments in various companies in the insurance industry, including the subsidiary Santam Namibia, and has business interests in Zimbabwe, Malawi and Zambia. 95% of Santam's business comes from brokers.

  • Benfield claims to be the world's leading independent reinsurance intermediary. Headquartered in the UK, it provides a range of specialist reinsurance, insurance and risk advisory services to a global customer base.

    • Key contacts

  • Tony Martin, chief executive

  • Miles Bagnall, operations manager

  • Victoria Baker, administration manager

    • Number of staff: 18

    UK offices: 1

    What is the company's history
    Bluesure launched in July 2001 with eight main covers in a personal insurance package: (motor, buildings, contents, health, personal accident, extended warranty, worldwide travel and motor breakdown). Bluesure intends to extend the package to include practically all types of personal lines insurance including pet, dental and motorcycle insurance.

    At the end of October 2002, Bluesure stopped accepting new business as a result of not having underwriting support at that time.

    In early March 2003, Bluesure announced it had signed a new deal with Santam and Benfield, who became joint shareholders in the business with Santam, providing underwriting capacity. Both shareholders have made a long-term commitment.

    Currently Santam is in the process of applying for FSA Licence Authorisation for the Bluesure Package proposition. It already has an FSA-authorised licence for business arranged through its recent acquisition of Westminster Motor Insurance Association specialising in insurance for taxis and private motor rental companies. Also Santam and Bluesure are in advanced negotiations with a major UK insurer to enter into a long term strategic partnership to share in underwriting the Bluesure Package proposition.

    Meanwhile, Bluesure is developing a range of improvements to our business transaction process to make it easier for broker partners to place business as soon as appropriate authorisation permits Bluesure to recommence active trading.

    Bluesure says the investment and underwriting capacity arranged with Santam will secure the long-term stability that will enable it to build and accelerate its unique personal insurance proposition focused on the broker market.

    Bluesure is a member of the GISC.

    Did you know?
    One of our customers has 19 different covers arranged under its Bluesure Personal Insurance Package Policy. On average Bluesure's Package Policy has sold 3.7 covers per customer, much higher than traditional insurance products cross-selling attainment.

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