Gazeta Lodz - Santam Executive Raises Cover Limits and Adds Lifestyle Benefits for High-Net-Worth Clients

Santam Executive has introduced an expanded insurance proposition for high-net-worth clients, increasing cover limits and adding specialized lifestyle benefits to address the evolving needs of affluent individuals.

Burgette Couvaras, head of Santam Executive, stated that the enhanced offering is designed to provide brokers with a market-leading solution that combines specialist protection, greater flexibility, and an elevated client experience. The update responds to growing expectations among wealthy clients for insurance products that reflect the complexity and value of their lifestyles.

"High-net-worth clients expect insurance that reflects the value and complexity of their lifestyles," Couvaras said. "Our elevated Executive proposition delivers broader protection, increased cover limits and valuable lifestyle benefits that help brokers have more meaningful conversations with their clients."

Built on Santam’s century-long history in the insurance sector, the executive product provides bespoke protection for a wide range of assets, including luxury homes, vehicles, fine art, jewellery, private collections, bicycles, watercraft, and home-based businesses. The company emphasizes that the enhanced product is supported by expert service and claims teams to ensure a personalized experience.

A key feature of the updated offering is the inclusion of improved benefits and higher limits for many items at no additional cost. Among these enhancements are complimentary building and contents valuations for qualifying clients, intended to reduce the risk of underinsurance and ensure assets are protected at appropriate values.

The insurer has also introduced worldwide contents cover with flexible limits to accommodate unique client needs. Specialist protection is available for fine art, antiques, and private collections, including coverage for selected artwork in transit. For sectional title property owners, Santam now offers enhanced difference-in-cover protection with an optional increased limit, alongside improved property keys cover for lost, stolen, or damaged keys.

Recognizing the rise of entrepreneurship and flexible working arrangements, the company has added home-based business contents cover. This includes protection for office contents, stock, samples, data restoration costs, and temporary business disruption expenses. Clients can also access enhanced maintenance cover for standard, gas, and solar geysers.

For cycling enthusiasts, Santam Executive has introduced Cycle Assist, a specialized solution that goes beyond comprehensive bicycle protection. The benefit includes personal accident cover, race cancellation benefits, emergency repairs, and temporary bicycle hire following an insured event. Clients may also add Credit Shortfall Cover for bicycles acquired through finance agreements.

Brokers can further tailor coverage through optional solutions, including guaranteed vehicle value protection, classic car cover, 4x4 and off-road benefits, legal expenses, watercraft insurance, and extended liability cover.

Couvaras noted that the enhanced executive proposition offers brokers a valuable opportunity to deepen client relationships. "Executive is about much more than insuring assets," she said. "It’s about protecting lifestyles, preserving legacies and giving clients confidence that every detail is understood and expertly managed."

Santam Executive states that its broader protection, enhanced benefits, and trusted reputation continue to set the benchmark for high-net-worth insurance in South Africa.

Q.Sikora--GL