Garagesure
Garagesure Consultants & Acceptances is a South African underwriting agency founded in 2000 that provides multiperil short-term insurance, fuel guarantees, and motor traders insurance to fuel retailers, wholesalers, fitment centres, and motor traders through a national broker network, underwritten by Compass Insurance.
- Company typePrivate
- Founded2000
- HeadquartersJohannesburg, South Africa
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Garagesure does
Garagesure Consultants & Acceptances (Pty) Ltd is a South African underwriting agency founded in 2000, headquartered in Johannesburg, and operating as a niche specialist serving the fuel and retail motor industries. The company writes business exclusively through a licensed broker network distributed nationally across South Africa, and underwrites on the paper of Compass Insurance Company Limited as a binder holder, with reinsurance capacity provided by Hannover Reinsurance Group Africa. Lireas Holdings (Pty) Ltd is the anchor shareholder and strategic partner from inception.
The company's product portfolio is anchored on three interconnected offerings built around a multiperil platform: (1) Commercial Short Term Insurance, a multimark-based policy bundled with niche extensions for forecourts, underground storage, retail, and buildings; (2) Fuel Guarantee, an insurance-backed guarantee that replaces cash-on-demand bank guarantees required by oil majors, allowing service station owners to deploy working capital in their operations; and (3) TradeGuard, specialist motor traders insurance covering motor dealers, fitment centres, and workshops. The Fuel Guarantee product is approved by major oil companies including BP Southern Africa, Puma Energy, Sasol Oil, Total South Africa, E10 Fuels, and Caltex Branded Marketers, which is the structural enabler of the product's adoption.
Garagesure earns revenue primarily through recurring short-term insurance premiums and annualized fuel guarantee fees priced at 2.5% to 6.5% of the guarantee value at risk, payable monthly in advance. Distribution is 100% indirect through commissioned brokers, with no direct-to-customer sales motion. The company holds FSP 4467 authorization from the South African Financial Sector Conduct Authority and has 11-50 employees including underwriting, claims, marketing, and finance functions. No revenue is publicly disclosed, and there is no evidence of external funding rounds, acquisitions, or AI/ML technology initiatives.
Garagesure firmographics
Firmographics- Name
- Garagesure
- Legal name
- Garagesure Consultants & Acceptances (Pty) Ltd
- Website
- https://garagesure.co.za
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Garagesure Consultants & Acceptances is a South African underwriting agency founded in 2000 that provides multiperil short-term insurance, fuel guarantees, and motor traders insurance to fuel retailers, wholesalers, fitment centres, and motor traders through a national broker network, underwritten by Compass Insurance.
- Ownership category
- akta.pro rank
Garagesure industry classification
Industry- Product category
- Commercial Specialty Insurance
- NAICS
- Insurance Agencies and Brokerages (524210)
- akta.pro primary industry
- Mid-Market Commercial Package (Package Policies) (FSAJAFAB)
- akta.pro secondary industry
- Garage Liability & Dealers (Auto Dealers, Repair Shops) (FSAJABAF)
Keywords
Where Garagesure is headquartered
LocationHeadquarters
- HQ city
- Johannesburg
- HQ country
- South Africa
- HQ region
- Africa
Offices1 record
Markets served
Garagesure business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Short-Term Insurance Premiums: Commercial short-term insurance products covering fuel retailers, wholesalers, fitment centres, and motor traders. Policy covers accidental damage, fire, theft, liability, business interruption, and various niche extensions.
- Fuel Guarantee Fees: Annualized cost charged to retailers for providing fuel guarantee coverage, allowing them to avoid cash deposits with oil majors. Cost ranges from 2.5% to 6.5% of guarantee value at risk, payable monthly or annually in advance. Premium is tax deductible and VAT can be claimed back.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Fuel Guarantee - Annualized cost corridor |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Garagesure product offering
Product offeringCore offering
Garagesure is a Johannesburg-based underwriting agency that provides niche commercial short-term insurance solutions to the fuel and retail motor industry in South Africa. It operates as a binder holder for Compass Insurance Company Limited, delivering a multi-peril, one-stop shop policy covering forecourts, underground storage, retail sites, and buildings. The portfolio includes Commercial Short Term Insurance, an insurance-backed Fuel Guarantee, and TradeGuard motor traders insurance, all distributed exclusively through a licensed broker network.
Product overview
Garagesure offers a suite of insurance products underwritten by Compass Insurance Company, designed as a multiperil one-stop shop for the fuel and retail motor industry. The core portfolio consists of three interconnected products: Commercial Short Term Insurance (a multimark policy covering fire, theft, liability, motor traders, and business risks), Fuel Guarantee (an insurance-backed guarantee enabling fuel retailers to avoid costly bank guarantees), and TradeGuard (specialist motor traders insurance). These products work together to cover the comprehensive risks of forecourts, underground storage, retail sites, fitment centres, and motor trading operations, positioning Garagesure as a single partner for the industry's full insurance needs.
Differentiator
Problem solved
Functional benefit
Brands
- Fuel Guarantee: Insurance product that alleviates the need for a cash on demand guarantee for fuel retailers, allowing service station owners to utilise capital in their business
- TradeGuard
- Commercial Short Term Insurance
Products and services
- Commercial Short Term Insurance
Quantifiable outcome
- Capital efficiency - retailers can utilize working capital in their business rather than as cash deposits with oil majors
- +1 more outcomes
Companies that use Garagesure
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Garagesure technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Garagesure partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered key, minor and supporting.
- BP Southern AfricakeyMajor oil company that has approved Garagesure's fuel guarantee product for use by their service station retailers.
- Puma EnergykeyOil major that has approved Garagesure's fuel guarantee product for use by their service station retailers.
- Sasol OilkeyOil major that has approved Garagesure's fuel guarantee product for use by their service station retailers.
- Total South AfricakeyOil major that has approved Garagesure's fuel guarantee product for use by their service station retailers.
- E10 FuelsminorOil company that has approved Garagesure's fuel guarantee product for use by their service station retailers.
- Caltex Branded Marketers (North & South)keyCaltex branded marketers that have approved Garagesure's fuel guarantee product for use by their service station retailers.
- AC DevelopsupportingTraining partner providing online platform for product training, professional development content, CPD records and regulatory reporting for Garagesure's broker network.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Garagesure competitors and assessment
Company assessmentBroad incumbents
- Bryte Insurance: South African commercial insurance specialist (now part of Santam) focused on commercial property, liability, and specialty risks. Comparable as a specialist commercial-lines SA insurer working through brokers on niche business.
- Old Mutual Insure: Major South African personal and commercial lines insurer with broker and direct distribution. Comparable as an incumbent serving SMB commercial customers with bundled products distributed through intermediaries.
- Bidvest Insurance: South African insurance distribution and underwriting business within the diversified Bidvest group. Comparable as an incumbent offering commercial and niche insurance products through broker-style channels in the SA market.
- Santam: South Africa's largest general insurer, offering a wide range of commercial, motor, and property insurance through brokers. Comparable as a broad incumbent distributing commercial packages via the same independent-broker channel Garagesure relies on.
- Hollard Insurance Group: One of South Africa's largest privately-owned insurance groups, with multiple underwriting divisions and MGA-style distribution. Comparable as a broader-portfolio incumbent offering commercial and specialty lines through broker networks across SA.
Direct peers
- Compass Insurance Company Limited: Garagesure's binder-holder capacity provider and a specialist South African insurer focused on niche commercial lines. Highly comparable as both are specialist SA underwriting entities serving niche commercial segments with customized products.
- Constantia Insurance Company: South African specialist insurer serving niche commercial segments. Comparable as a specialty SA insurer underwriting niche commercial risks via brokers, similar in scale and distribution model to Garagesure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Garagesure social profiles
Digital presenceGaragesure financial estimates
Financial estimateRevenue estimate
Valuation estimate
Garagesure leadership team
Management profileNumber of profiles
Profiles10 records
Garagesure funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Garagesure M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Garagesure
What does Garagesure do?
Garagesure is a Johannesburg-based underwriting agency that provides niche commercial short-term insurance solutions to the fuel and retail motor industry in South Africa. It operates as a binder holder for Compass Insurance Company Limited, delivering a multi-peril, one-stop shop policy covering forecourts, underground storage, retail sites, and buildings. The portfolio includes Commercial Short Term Insurance, an insurance-backed Fuel Guarantee, and TradeGuard motor traders insurance, all distributed exclusively through a licensed broker network.
Is Garagesure a public or private company?
Garagesure is a private company. It is classified as corporate owned and is currently operating.
When was Garagesure founded?
Garagesure was founded in 2000. It employs 11 to 50 people.
Where is Garagesure based?
Garagesure is headquartered in Johannesburg, South Africa, in the Africa region.
How does Garagesure make money?
Two revenue lines are on record. Short-Term Insurance Premiums are the primary driver. The others are fuel Guarantee Fees.
Who are Garagesure's main competitors?
Broad incumbents on record are Bryte Insurance, Old Mutual Insure, Bidvest Insurance, Santam and Hollard Insurance Group. Direct peers are Compass Insurance Company Limited and Constantia Insurance Company.
Does Garagesure have an API?
No public API is recorded for Garagesure.
What industry is Garagesure in?
Garagesure's product category is Commercial Specialty Insurance. Its primary akta.pro industry code is FSAJAFAB, Mid-Market Commercial Package (Package Policies), with a secondary code of FSAJABAF, Garage Liability & Dealers (Auto Dealers, Repair Shops). Its NAICS code is 524210.