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Introducing Motovantage: Value-added insurance has a new name

04 November 2015 Stephen Vermaak, Motovantage
MotoVantage is headed up by CEO Stephen Vermaak, CA (SA), CFA. Vermaak joined WesBank in 2007 as the CFO for the bank’s Motor Division, and was appointed as Head of Insurance in 2012.

MotoVantage is headed up by CEO Stephen Vermaak, CA (SA), CFA. Vermaak joined WesBank in 2007 as the CFO for the bank’s Motor Division, and was appointed as Head of Insurance in 2012.

NewInvest, a FirstRand group company, and The Hollard Insurance Company are delighted to announce that regulatory approvals have been received for the formation of a new value-added products holding company. The new business will be branded MotoVantage.

This new company signals FirstRand and Hollard’s intent to play a significant role in the value-added insurance industry. MotoVantage will now offer and develop new value-added vehicle insurance products for consumers. Additionally, the 100% equity in Motorite and SMART will see offerings from those businesses also being made available under the same banner.

MotoVantage is headed up by CEO Stephen Vermaak, CA (SA), CFA. Vermaak joined WesBank in 2007 as the CFO for the bank’s Motor Division, and was appointed as Head of Insurance in 2012. Vermaak will be joined by Anton Botha.

Botha brings extensive insurance industry experience to the MotoVantage team. He will serve as the Chief Operating Officer. Over the last 18 years he served in several executive management roles at Hollard as well as in the vehicle and asset finance division of ABSA. He also served as a board member on a number of industry bodies and Hollard Group entities.

MotoVantage will work closely with manufacturers, dealerships and insurers to offer consumers products at through point of sale and telesales channels. Products will be available to all consumers, regardless of their finance house. MotoVantage will offer innovative products at competitive prices by combining established motor industry partnerships with Hollard’s decades of insurance industry experience.

“We are embracing the established dealer base and proven infrastructure to focus on our core business,” says Vermaak. “We will provide motor manufacturers, dealers and insurers’ added-value by offering a one-stop-shop product range. Processes will be simpler, and consumers will also benefit from this integrated and customised approach.”

A comprehensive suite of insurance products will be made available under the MotoVantage portfolio, including offerings from Motorite and SMART. The current range includes, among others, mechanical warranties, service and maintenance plans, vehicle scratch and dent cover, tyre and rim cover, deposit protector policies, credit life and shortfall cover.

“Our model of offering these products through the motor retail trade means they will be available to all customers,” says Vermaak. “And these will be available regardless of the brand they choose to buy, or the finance house they wish to use.”

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