Pineapple

What Pineapple does

Pineapple is a South African digital-first short-term insurance provider founded in 2017 and headquartered in Johannesburg. The company offers comprehensive car insurance, all-risk personal items insurance, and home contents insurance, primarily targeting the approximately 70% of South African vehicles that were previously uninsured, as well as tech-conscious consumers and homeowners. Its core technology is an AI-powered mobile app that delivers a 90-second snap-a-picture quote process, 30-second claims submission, and a telematics-linked Drive Less Get Blessed benefit offering up to 30% monthly premium cashback for low-mileage drivers. Underwriting is provided through a cell captive arrangement with Old Mutual Alternative Risk Transfer Insure Limited (OMART), to which Pineapple migrated its entire book in February 2024.

The company generates revenue through monthly insurance premiums collected via debit order, a 10% fee from OMART for outsourced functionality and technology maintenance, and 5% commission per intermediary agreement. Policies are month-to-month with no long-term contracts, and pricing starts at R19/day for comprehensive car cover and R80/month for All-Risk items. Distribution is direct-to-consumer via iOS and Android apps and the pineapple.co.za website, supplemented by a Dealership Program referral channel and WhatsApp support.

Pineapple has raised approximately $29.1 million across a Series A (R80 million, 2021) and Series B (R400 million / approximately $21.3 million, November 2023), achieving unicorn valuation status as recognized by Endeavor selection in 2025. The company has built brand presence through major broadcast sports sponsorships including the Rugby World Cup 2023, Cricket World Cup 2023, SA20, and AFCON 2024, and has won the Grand Effie 2024 and Gold Effie 2025 marketing awards. It holds FSP license 48650 with an FSCA exemption under section 44(4) of FAIS, and coverage extends to seven additional Southern African markets.

Name

Pineapple

Legal name

Pineapple Tech Pty Ltd

Website

https://pineapple.co.za

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Pineapple is a South African digital-first short-term insurer offering affordable car, personal items, and home contents insurance via an AI-powered mobile app, underwritten through an OMART cell captive and targeting previously uninsured South African consumers.

Ownership category

akta.pro rank

Product category

Digital Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Agencies and Brokerages (524210)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Umbrella Insurance (FSAJAMAK)

akta.pro secondary industries

Personal Umbrella Insurance (FSAJANAA), Product Liability & Recall (FSAJAGAG), Commercial Umbrella Insurance (FSAJANAB), Commercial General Liability (CGL) (FSAJADAA)

Keywords

• Digital insurance platform
• Short-term insurance
• Car insurance
• Usage-based insurance
• Insurtech solutions

Headquarters

HQ city

Johannesburg

HQ country

South Africa

HQ region

Africa

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Others

Revenue model

1. Monthly Insurance Premiums: Core revenue from monthly short-term insurance premiums collected via debit order. Policies operate on month-to-month basis with no long-term contracts. Premiums are risk profile dependent and vary based on vehicle type, driver history, and selected coverage.
2. Insurance Intermediary Fees: Pineapple receives 10% fee from insurer (OMART) for outsourced functionality, mobile application maintenance, AI, and system maintenance. Also receives 5% commission from insurer per intermediary agreements.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Pineapple sells short-term digital insurance products — Comprehensive Car Insurance, All-Risk Personal Items Insurance, and Home Contents Insurance — to South African consumers through an AI-powered mobile app. Policies are underwritten by Old Mutual Alternative Risk Transfer Insure Limited (OMART) via a cell captive structure, with quotes generated in 90 seconds via AI snap-a-picture technology and claims processed digitally in 30 seconds, all on a month-to-month basis with no long-term contracts.

Product overview

Pineapple is a South African digital insurtech company offering a suite of short-term insurance products through an app-first platform. The core product portfolio consists of three main insurance types: Comprehensive Car Insurance, All-Risk/Personal Items Insurance, and Home Contents Insurance. These are delivered primarily through the Pineapple Mobile App, which powers the entire customer journey from 90-second AI-powered quotes to 30-second claims processing. Value-added benefits include Drive Less Get Blessed (low-mileage cashback) and Pineapple Rewards (loyalty profit-share). The company operates under a cell captive structure underwritten by Old Mutual Alternative Risk Transfer Insure Limited (OMART), having migrated from Old Mutual Insure in February 2024. Policies are month-to-month with no long-term contracts, and all offerings are digital-first with omnichannel support via app, web, and WhatsApp.

Differentiator

Problem solved

Functional benefit

Products and services

• Comprehensive Car Insurance Complete motor vehicle coverage including theft, hijacking, accidental damage, natural perils, and third-party liability. Features include 90-second AI-powered snap-a-picture quotes, free 24/7 roadside and emergency assistance, fuel/tyre/battery assist, SASRIA riot cover, trauma counselling up to R2,000, and integration with the optional Drive Less Get Blessed low-mileage cashback benefit. Starting from R19/day or R300/month, fully comprehensive.
• All-Risk / Personal Items Insurance Worldwide coverage for high-value personal items including mobile phones, laptops, drones, cameras, jewellery, and sports equipment. Covers accidental loss, theft, and damage anywhere globally, with individual per-item pricing from R80/month obtained via app snap-a-picture quoting in under 60 seconds.
• Home Contents Insurance Digital-first household coverage against fire, theft, natural disasters, and weather damage. Includes personal liability coverage up to R5,000,000 and optional accidental damage extension including power surge and load-shedding coverage tailored to South African conditions. Policies are managed end-to-end through the Pineapple mobile app.

Quantifiable outcome

• Up to 30% monthly premium cashback for driving under 300km
• +5 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• SantamcoreOthers · 1 February 2024Professional indemnity insurance provider for Pineapple Tech Pty Ltd, covering the company's regulatory and operational risk requirements.
• Compli-Serve SA (Pty) LtdcoreImplementation/ SI/ Consulting Partner · 1 January 2024Licensed compliance practice monitoring Pineapple's FAIS Act compliance. Contact: Elzabe Botha. Ensures regulatory adherence for FSP 48650.
• Old Mutual Alternative Risk Transfer Insure Limited (OMART)flagshipStrategic or Co-development Partner · 1 July 2021Underwriting partner providing cell captive framework. Effective February 2024, Pineapple migrated entire book of business to OMART's dedicated cell captive environment. OMART is a licensed Non-Life Insurer and member of Old Mutual Group.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Santam: Santam is South Africa's largest general insurer and the parent of MiWay, offering a full spectrum of short-term insurance products. As the dominant incumbent in the SA market Pineapple is disrupting, Santam is a broad comparator for product breadth and underwriting expertise, though operating primarily through traditional broker channels.
• MiWay Insurance: MiWay is a South African direct-to-consumer short-term insurer owned by Santam, offering car, home, and business insurance via phone and online channels. It is a broader incumbent targeting the same digital-direct consumer segment as Pineapple, with greater product breadth but less app-centric design.
• Outsurance: Outsurance is a South African direct insurer known for its OUTbonus model that returns unclaimed premiums to policyholders, conceptually similar to Pineapple's profit-share and Drive Less Get Blessed features. It is an established incumbent operating in the same digital-direct short-term insurance space.

Direct peers

• Naked Insurance: Naked Insurance is a South African digital-native insurer offering app-based car and home contents insurance with surplus返还 to low-claim customers. It is the closest direct competitor to Pineapple in the SA market, sharing the app-first, contractless, AI-driven value proposition.
• Discovery Insure: Discovery Insure is the short-term insurance arm of Discovery Limited, offering telematics-based car insurance with its Vitality Drive program that rewards good driving behavior. It is a direct competitor in South African motor insurance with overlapping usage-based, app-centric features similar to Pineapple's Drive Less Get Blessed.

Emerging players

• Lemonade Inc. Lemonade is a US/Europe-based AI-native insurer using behavioral economics and chatbots for instant underwriting and claims. While serving a different geography, it shares Pineapple's AI-first, digital-native, mobile app distribution model for short-term insurance products.
• Many Pets (formerly Bought By Many): Many Pets is a UK-based digital-first pet insurer that pioneered online, app-based insurance distribution for a specific category. While focused on pet rather than car/home, it shares Pineapple's digital-native insurance playbook and target of making traditionally opaque insurance products simple and consumer-friendly.
• Root, Inc. Root is a US-based insurtech using mobile telematics and AI to price auto insurance based on actual driving behavior. Like Pineapple, it pioneers usage-based insurance with mobile-first technology, though in the US market rather than emerging markets.
• Betterfly: Betterfly is a Latin American insurtech combining wellbeing, microinsurance, and digital distribution with an app-first model targeting emerging middle-class consumers. It shares Pineapple's mission of expanding insurance access in emerging markets through mobile technology and behavioral incentives.

Others

• Old Mutual Limited: Old Mutual is the licensed Non-Life Insurer and Old Mutual Group parent that underwrites Pineapple's policies through its Alternative Risk Transfer Insure Limited (OMART) cell captive. As Pineapple's strategic underwriting partner and an investor via its ESD Fund, Old Mutual is a critical ecosystem participant rather than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/pineapple_sa
• YouTubeyoutube.com/channel/UCaY_kSf3M1A6Ck9EtvecXLQ
• Facebookfacebook.com/pineapple.co.za
• LinkedInlinkedin.com/company/pineapple-insurance
• Instagraminstagram.com/pineapple_sa
• TikToktiktok.com/@pineapple__sa

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds7 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pineapple