Bob Jane and Tony Murdaca are making a big play in the insurance industry.
Tyre mart king Jane and smash repair businessman Murdaca plan to reduce the squeeze that the insurance industry is currently putting on panelbeaters.
Starting solely in automotive insurance, both commercial and private, they’re looking to list Bob Jane Integrity Insurance on the ASX in December.
“We’ll start slow, see how we go with the repairers,” Jane told Fairfax in an interview.
He also said that expansion in the already competitive market will come with the backing of a Chinese underwriter, currently not doing business in Australia.
The company’s launch has been in the pipeline for four years.
“We’re trying to change the current situation with insurance companies and panel beaters,” Murdaca told the media organisation.
“We’re inviting the smash repair industry to participate in the initial float, we’d like them to be part of the company. It’s a new insurance brand … built around the repair industry to better educate (panelbeaters) how to repair cars with guarantees.”
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