We are pleased to announce that 24fix has been acquired by a Black Economic Empowerment consortium (“BEE consortium”) in July 2017. This BEE consortium is headed by Eric Sigama and is supported by individuals with extensive insurance industry experience.24fix was established in 2007, has a national footprint and provides plumbing and related services to several large insurers in South Africa.This acquisition of 24fix from Europ Assistance South Africa ideally positions the company to operate independently of incident managers and insurance providers and therefore become a supplier of choice for emergency geyser; plumbing and resultant damage repairs to the entire South African insurance sector.The investment further unlocks substantial B-BBEE benefits through direct black equity investment of over 75%. 24fix is currently a Level 2 BEE Contributor and is the largest, independent, black-owned supplier in this space within the insurance industry. 24fix currently operates in the metropolitan areas of Johannesburg, Pretoria, Cape Town and Durban and is moving its head office to Four-ways.
The new shareholders, with extensive industry experience are applying a fresh approach to the business, while partnering with current staff that has a thorough understanding of the business. We believe that this fresh approach will result in an improved level of service and higher quality service ratings. We expect to broaden both our product offering and footprint in the foreseeable future in response to new developments and the expanding needs of our clients. We are confident that we will add significant value to our customers, suppliers and our long-term market strategy.
Eric Sigama, CEO of 24fix, is a seasoned insurance executive having held several senior roles in the claims and procurement space for companies like Absa Insurance,Guardrisk & Santam.
“We understand the insurers’ reliance on third parties to fulfill their claims’ mandate to customers and we are committed to investing in our people and processes to ensure that we continue to deliver exceptional service for our insurance clients,” says Sigama.We are looking forward to partnering with our stakeholders to continue to exceed our customers’ expectations. In the interim period, as we move our offices to new premises and transition to new operating and accounting systems we ask our customers and suppliers for their support and patience. In the event that you have queries or experience any transition issues please do not hesitate to contact Eric directly on firstname.lastname@example.org or Avishae Rampat via our call centre at 0860 024 349.
Peter Todd, a shareholder in 24fix, believes that the transaction will add significant value to the industry: “I believe that 24fix has a meaningful role to play in the broader insurance industry both in terms of claims fulfillment and skills development,” commented Todd.
Having recently been at the forefront of driving change in the motor repair sector, Todd believes that 24fix can learn a lot from the solutions that have already been implemented in the motor claims’ environment.