The journey began in 2015, when 3 friends – Anthony Miller, Simon Nicholson and Shaun Dippnall – realised the writing was on the wall for old school life insurers.
For too long, consumers had been sold one-size-fits-all life insurance products they often didn’t need; for too long, life insurance had been ‘pushed’ by agents and outbound call centres; for too long, life insurers had spent billions on TV, radio and print advertising; and for too long, insurers had run their businesses on expensive, outdated technology. Something had to give.
So, Simply was born – a digital life provider hell bent on giving South Africans great value life and disability cover at disruptively low costs. We’ve used data, tech and social media to slash the costs of IT and marketing, and priced for risk so customers get a price that makes sense for them. We’ve partnered with giants of the industry – policies are underwritten by Old Mutual Alternative Risk Transfer Limited and reinsured by the Reinsurance Group of America; they’re rock solid and valid claims will be paid. So far, so good. We’re making a splash in the market and forcing the big players to up their games.
Simply currently offers 3 products: Family Cover, Domestic Cover and Group Cover. Family Cover is designed for individuals currently underserviced by traditional insurers, whereas Domestic Cover and Group Cover is designed for employers of either domestic workers or business employees.
All three products consist of life, disability and funeral benefits – available individually or as combos. Policies start from as little as R59 per month, and can be bought entirely online in less than 10 minutes.
Simply products are unique in a number of ways
Yellowwoods invests in Insurtech player Simply Financial Services (Biz Community)
Simple life cover product for your domestic worker (IOL)
SA's Simply, SweepSouth partner to improve financial security for domestic cleaners (Disrupt Africa)
Why uninsured employees are bad for business (Entrepreneur Magazine)
Simply offering financial literacy workshop for domestic workers (Cape Talk)
Seven SA insurtech startups to watch (Ventureburn)
Hippo is retrieving information so you can complete the process. It will be worth the wait.