Simply
- Company typePrivate
- Founded2015
- HeadquartersCape Town, South Africa
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
Simply firmographics
Firmographics- Name
- Simply
- Legal name
- Simply Financial Services (Pty) Ltd
- Website
- https://simply.co.za
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Simply industry classification
Industry- Product category
- Digital Life Insurance
- NAICS
- Direct Life Insurance Carriers (524113), Direct Health and Medical Insurance Carriers (524114), Health and Welfare Funds (525120)
- SIC
- Life Insurance (6311), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Simplified Issue (No-Exam) Term Life Insurance (FSAIAAAH)
- akta.pro secondary industries
- Basic Group Term Life (Employer-Paid) (FSAIADAA), Simplified Issue Disability Insurance (FSAIAIAG), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK)
Keywords
Where Simply is headquartered
LocationHeadquarters
- HQ city
- Cape Town
- HQ country
- South Africa
- HQ region
- Africa
Offices1 record
Markets served
Simply business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Insurance Premiums: Simply collects recurring monthly premiums from policyholders in exchange for life, disability, funeral, critical illness, and income protection coverage. Premiums are calculated based on age, smoking status, marital status, income level, and education. The company acts as a binder holder, performing key functions on behalf of insurer Hollard including policy issuance, administration, and claims management.
- Binder Fees: Simply receives binder fees from Hollard equal to 30% of each month's premium (excluding VAT) for performing functions on behalf of the insurer such as issuing and administering policies and managing claims.
- Broker Commissions: Intermediaries earn commission from Hollard for rendering services as intermediary, up to the regulated maximum amount permitted for this type of policy.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Family Cover - Individual/Family policies |
| Subscription | Monthly | Flexi Staff Cover - SME employee benefit packages |
| Subscription | Monthly | Flexi Domestic Cover - Domestic worker protection |
| Freemium | Pay-as-you-go | Mahala - Free introductery cover |
| Subscription | Monthly | Flexi Funeral Cover - Standalone funeral insurance |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Simply product offering
Product offeringCore offering
Simply is a digital-first life insurer offering a modular Flexi Cover product range for South African individuals, families, and businesses. Core products include Flexi Family Cover (Life, Disability, Funeral), Flexi Staff Cover (group risk for SMEs), Flexi Domestic Cover (for domestic workers), and standalone funeral cover, all underwritten by Hollard and issued online in minutes with no medical tests.
Product overview
Simply is a digital-first life insurance platform offering a modular product portfolio built around three core Flexi Cover products (Flexi Family Cover, Flexi Staff Cover, and Flexi Domestic Cover) that customers can mix and match. All Flexi products can be enhanced with additional coverage options including standalone Funeral Cover (Flexi Funeral, Flexi Staff Funeral), free introductory Mahala cover for SMEs, and the Simply Wellness Programme providing 24/7 mental health support. The product architecture enables modular coverage selection—individual and family customers can combine Life, Disability, and Funeral benefits, while business customers get all five risk benefits (Life, Occupational Disability, Critical Illness, Temporary Income Protection, and Funeral) in a single policy. All products are underwritten by Hollard, fully distributed digitally with no medical tests required, and include free Simply Wellness Programme access.
Differentiator
Problem solved
Functional benefit
Brands
- Flexi Staff Cover: Life, Occupational Disability, Critical Illness, Temporary Income Protection and Funeral Cover for businesses' employees.
- Flexi Family Cover
- Flexi Domestic Cover
- Flexi Funeral Cover
- Flexi Staff Funeral Cover
- Mahala
- Simply Wellness
Products and services
- Flexi Family Cover Flexible individual and family life insurance bundling Life, Disability and Funeral Cover in a single fully digital policy with no medical tests. Offers up to R2.5m combined Life and Disability Cover, R100k Funeral Cover, unlimited family members, and a 50% cash-back option. Targets South African individuals and families seeking affordable, accessible protection.
- Flexi Staff Cover Comprehensive group risk product providing South African SMEs with Life, Occupational Disability, Critical Illness, Temporary Income Protection and Funeral Cover for their employees in a single policy. Offers up to R2.5m Life, Disability and Critical Illness Cover, up to R100k Funeral Cover, and up to R100k per month Temporary Income Protection, with payroll integration to SAGE and Payspace.
- Flexi Domestic Cover Life, Disability and Funeral Cover designed specifically for domestic workers and arranged by their employer. Cover ranges from R50k to R200k, capped at 5x the employee's annual salary, providing lump-sum payouts to nominated beneficiaries. Targets South African households and small businesses employing domestic staff.
- Flexi Funeral Cover Standalone Funeral Cover ranging from R15k to R100k with payout within 48 hours of valid claim documents. Allows customers to add unlimited immediate and extended family members to one policy, with an optional paid-up benefit. Targets South African consumers seeking affordable, dedicated funeral protection.
- Flexi Staff Funeral Cover Funeral Cover for businesses covering employees and their families, ranging from R5,000 to R100,000 per insured life, with claims paid within 24 hours. Optional family funeral extension covers spouse and children under 21, and the policy can be linked to employer payroll for administration.
- Mahala Free R10,000 Funeral Cover offered for one year to eligible South African SMEs and NPOs with 5-100 employees trading at least two years. Requires no payment details or commitment, with optional paid upgrades available. Functions as an introductory funnel into Simply's paid staff cover products.
- Simply Wellness Programme Free wellness benefit bundled into every Simply policy, providing 24/7 telephonic counselling, unlimited access to counselling services, a network of 800+ multilingual health practitioners and therapists, and virtual training workshops on stress, relationships and grief. Targets policyholders and their families across South Africa.
Quantifiable outcome
- Policies issued in minutes vs traditional insurers taking days/weeks
- +5 more outcomes
Companies that use Simply
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles1 record
Simply technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature4 records
Simply partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Nampo (Agricultural Business Council)minorSimply Boer campaign launched at Nampo 2024 (Africa's premier agricultural expo). The campaign returned for Nampo Harvest Day in May 2025. Nampo is South Africa's largest agricultural exhibition providing access to farmers and agribusinesses.
- PayspacecoreSimply Financial Services announced a partnership with Payspace, a top payroll solutions provider. This collaboration enables easier purchase of staff cover and automated employee data management. As employees join and leave, policies stay current without extra hassle. The integration streamlines the staff cover sign-up process.
- SAGEcoreSimply Financial Services launched Simply Staff Cover on the SAGE Marketplace. This innovative integration allows employers to sign up their staff for flexible cover in just 10 minutes, seamlessly integrating employee data with a single click. SAGE is a leading business management software provider.
- BizCommunityminorSimply publishes industry insights and company news through BizCommunity, a South African business news platform. Articles cover employee welfare, funeral cover importance, and Simply product features.
- FA NewsminorSimply publishes news and articles through FA News, a South African financial services news platform. Coverage includes product expansions, broker sales growth, and industry insights.
Scale indicators3 records
Recent moves7 records
Expansion highlights6 records
Simply competitors and assessment
Company assessmentDirect peers
- Naked Insurance: South African insurtech offering fully digital, app-based insurance with no paperwork. Most directly comparable peer — both target SA consumers with digital-first insurance experiences, although Naked has focused on short-term/car insurance while Simply focuses on life.
- Pineapple (Pineapple Tech): South African peer-to-peer insurtech offering digital short-term insurance products. Comparable as a SA-based digital-first insurtech targeting mass-market consumers with mobile-first distribution, although focused on non-life lines.
Broad incumbents
- Hollard Life Assurance (Simply's underwriter): Major South African insurer and Simply's underwriting partner with minority equity stake. Overlaps with Simply as a life insurance provider but operates through traditional broker channels at much larger scale across multiple product lines.
- Discovery Life: South Africa's largest dedicated life insurer, part of Discovery Holdings. Comparable as a digital-forward SA life insurer with shared-value product design, though operates at significantly larger scale with more established actuarial data and broader product range.
- Sanlam Life Insurance: One of South Africa's largest life insurers with extensive broker and direct distribution. Comparable broad-incumbent life insurance competitor pursuing digital transformation alongside its traditional channels.
- Old Mutual Life Assurance: Major South African life insurer with mass-market and corporate offerings. Represents the legacy model Simply is disrupting — direct competitor for SME group risk and individual life products.
Emerging players
- Ladder Life: US-based digital-first term life insurer offering instant online underwriting with no medical exams. Strong functional peer for Simply's simplified-issue, fully digital approach, though operating in a more mature US market.
- Bestow: US insurtech providing fully digital term life insurance with algorithmic underwriting and no medical exams. Closest functional analogue to Simply's no-medical-test, instant-issue approach in a developed market.
- BIMA (Milvik): Digital microinsurance provider targeting emerging-market consumers via mobile in Africa and Asia. Comparable for mass-market, low-income customer focus and mobile-first distribution, though focused on health and accident cover.
Others
- Indwe Brokerage: South African insurance brokerage distributing life and group risk products. Comparable as a broker-channel participant in the SA SME group risk market where Simply also distributes via advisors.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Simply social profiles
Digital presenceSimply compliance and trust
Trust signalCompliance2 records
Simply financial estimates
Financial estimateRevenue estimate
Valuation estimate
Simply leadership team
Management profileNumber of profiles
Profiles6 records
Simply funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Simply 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 Simply
What does Simply do?
Simply is a digital-first life insurer offering a modular Flexi Cover product range for South African individuals, families, and businesses. Core products include Flexi Family Cover (Life, Disability, Funeral), Flexi Staff Cover (group risk for SMEs), Flexi Domestic Cover (for domestic workers), and standalone funeral cover, all underwritten by Hollard and issued online in minutes with no medical tests.
Is Simply a public or private company?
Simply is a private company. It is classified as venture growth investor backed and is currently operating.
When was Simply founded?
Simply was founded in 2015. It employs 11 to 50 people.
Where is Simply based?
Simply is headquartered in Cape Town, South Africa, in the Africa region.
How does Simply make money?
Three revenue lines are on record. Insurance Premiums are the primary driver. The others are binder Fees and broker Commissions.
Who are Simply's main competitors?
Direct peers on record are Naked Insurance and Pineapple (Pineapple Tech). Broad incumbents are Hollard Life Assurance (Simply's underwriter), Discovery Life, Sanlam Life Insurance and Old Mutual Life Assurance. Emerging players are Ladder Life, Bestow and BIMA (Milvik). Indwe Brokerage is listed as an others.
Does Simply have an API?
No public API is recorded for Simply.
What industry is Simply in?
Simply's product category is Digital Life Insurance. Its primary akta.pro industry code is FSAIAAAH, Simplified Issue (No-Exam) Term Life Insurance, with a secondary code of FSAIADAA, Basic Group Term Life (Employer-Paid). Its NAICS code is 524113 and its SIC code is 6311.