MiWay

What MiWay does

Miway Insurance Limited is a South African licensed non-life insurer (FSP 33970) and wholly-owned subsidiary of the Santam Group, founded in 2007 and headquartered in Centurion. The company sells short-term insurance products to individual consumers and small and medium enterprises through a direct, digital-first distribution model comprising a website, mobile app, self-service portal (MiXpress), 24/7 contact centre, and WhatsApp support, supplemented by a business insurance sales team that handles callback requests.

The product portfolio spans personal lines (car, motorcycle, caravan, trailer, home contents, buildings, moveables/all-risk, pet) and commercial lines (vehicles and fleet, goods in transit, e-hailing, motor traders, special purpose vehicles, business property, business interruption, staff dishonesty, professional liability, environmental liability, broadform liability). Customers can customise coverage with add-ons such as Scratch and Dent, Tyre and Rim, Motor Warranty, MiGuard, MiMotor Combo, and MiBusiness Assist, and can earn rewards through the Micashback and iRefer programmes. All policyholders receive access to Mihelp, a 24/7 emergency assistance service. Miway also operates Miway Life as a subsidiary for life and funeral cover.

The technology stack is anchored by the Miway App and self-service portal, supported by AI-driven fraud detection capabilities spanning NLP, image and voice recognition, behavioral analytics, telematics, and network analysis to identify coordinated fraudulent claims. The company generates revenue primarily through recurring insurance premiums billed monthly, with bundle discounts up to 40% across product combinations and a price-match guarantee of up to R2,000 for new customers switching from competitors. Distribution is concentrated in South Africa, with cross-border cover limited to goods in transit into selected African territories.

Name

MiWay

Legal name

Miway Insurance Limited

Website

https://miway.co.za

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Miway is a South African licensed non-life insurer and Santam Group subsidiary selling short-term personal and SME insurance (car, home, business, pet) via a direct, digital-first model spanning web, mobile app, contact centre, and WhatsApp, with AI-driven fraud detection and modular add-ons.

Ownership category

akta.pro rank

Product category

Short-term Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Property and Casualty Insurance Carriers (524126), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

akta.pro secondary industries

Commercial Auto & Fleet Insurance (FSAJAMAB), Warranty & Service Contract / Mechanical Breakdown Insurance (FSAJAMAM)

Keywords

• Short-term insurance
• Personal insurance products
• Commercial insurance solutions
• Vehicle insurance coverage
• Home insurance policies

Headquarters

HQ city

Centurion

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Short-term Insurance Premiums: MiWay operates as a licensed non-life insurer generating revenue through insurance premiums paid by policyholders. Customers pay recurring premiums (monthly or annually) for coverage across personal lines (car, home, contents, pet) and commercial lines (business vehicles, property, liability). The company also offers add-on cover products (Scratch & Dent, Tyre & Rim, Motor Warranty, MiGuard) as premium upsells.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

MiWay is a South African licensed non-life insurer (FSP 33970) that sells short-term insurance products direct to individual consumers and SMEs through digital-first channels. Its core offering spans personal lines (car, motorcycle, caravan, trailer, home contents, buildings, moveables/all-risk, pet) and commercial lines (business vehicles & fleet, goods in transit, e-hailing, motor traders, special purpose vehicles, trailers, property, business interruption, staff dishonesty, all-risk, professional, environmental and broadform liability), complemented by 24/7 Mihelp emergency assistance and tailored value-added extras.

Product overview

MiWay is a South African direct insurer and licensed non-life insurer (FSP 33970) operating as a subsidiary of the Santam Group. The company offers a comprehensive short-term insurance portfolio organized into Personal Insurance and Business Insurance divisions, supplemented by rewards programs and 24/7 emergency assistance. Personal Insurance includes car/motorcycle/caravan/trailer insurance, home contents/buildings insurance, moveables/all-risk coverage, and extras such as MiGuard (armed response), Scratch & Dent, Tyre & Rim, Motor Warranty, and Mipet (pet insurance), with Micashback and iRefer rewards programs. Business Insurance covers vehicles & fleet, goods in transit, e-hailing, motor traders, special purpose vehicles, trailers, business property, business interruption, staff dishonesty, all-risk, professional liability, environmental liability, broadform liability, plus MiBusiness Assist support services. All customers receive access to Mihelp 24/7 emergency assistance and can manage policies through the Miway App and Self-Service Portal. The platform operates on a modular architecture where core insurance products can be customized with optional add-ons, with distribution through digital channels (website, app, portal) and 24/7 contact center.

Differentiator

Problem solved

Functional benefit

Brands

• Blink by Miway: A division of Miway Insurance Limited that handles promotions (promotions by Blink by Miway will not be applicable to policies underwritten through the Miway App, website or any other medium unless specifically specified).
• Micashback
• Mihelp
• Mipet
• MiGuard
• MiBusiness Assist
• iRefer

Products and services

• Car Insurance Comprehensive vehicle insurance for individuals covering accident damage, theft, hijacking, third-party damages and natural disaster damage, customisable with extras such as Scratch & Dent, Tyre & Rim and Motor Warranty.
• Motorcycle Insurance Specialised insurance coverage for motorcycles, part of the personal vehicles insurance portfolio for individual consumers.
• Caravan Insurance Insurance coverage for caravans, sold as part of the personal vehicles insurance offerings to individual consumers.
• Trailer Insurance Insurance coverage for personal trailers, part of the personal vehicle insurance portfolio for individual consumers.
• Home Contents Insurance Coverage for household contents against unexpected events such as theft, fire and damage, sold to individual consumers (homeowners and renters).
• Buildings Insurance Insurance coverage for the structure of residential or commercial buildings against damage and losses.
• Moveables/All-Risk Insurance Coverage for portable valuable items that can be taken away from the home address, with worldwide cover included.
• Mipet (Pet Insurance) Insurance coverage for pets, offered to individual consumers as part of the personal insurance extras portfolio.
• MiGuard Personal armed security response service offered as an extra add-on to personal insurance policies for individual consumers.
• MiMotor Combo Combined motor insurance extra offering multiple motor coverage benefits bundled into one package.
• Scratch & Dent Optional extra covering minor vehicle damage such as scratches and dents, customisable with car insurance policies.
• Tyre & Rim Cover Optional extra covering tyre and rim damage or replacement, offered as part of motor insurance customisation options.
• Motor Warranty Mechanical breakdown warranty coverage for vehicles, offered as an add-on extra to motor insurance policies.
• Business Vehicles & Fleet Insurance Commercial vehicle and fleet insurance covering all business vehicles to meet operational risks for SMEs, including daily commercial vehicle usage.
• Goods in Transit Insurance Coverage for loss or damage to items transported by road to and from the specified business address, including cover outside South Africa into various African territories.
• E-Hailing Insurance Specialised insurance for e-hailing drivers (Uber and similar platforms), protecting the vehicle and passengers to keep the e-hailing business operational.
• Motor Traders Insurance Insurance coverage for motor trade businesses including car washes, repair shops, service centres and dealerships, with cost-saving options for traders.
• Special Purpose Vehicles Insurance Insurance coverage for special purpose vehicles (SPVs) used in business operations, with cost-saving options for SMEs.
• Business Trailer Insurance Separate insurance coverage for all types of business trailers from small luggage to large interlink trailers, insured independently.
• Business Property Insurance Coverage for building, office contents, money, equipment and stock, plus free business interruption cover and emergency assist for SMEs.
• Business Interruption Insurance Coverage for financial losses, fixed expenses, loss of operational profit, public services and telecoms with flexible limits and periods after covered events.
• Staff Dishonesty Insurance Coverage for fraud or theft by employees under buildings, office contents, equipment, stock, money, and all risk coverage.
• Business All Risk Insurance Coverage for items worn or taken away from the risk address, unintentional loss or damage, with worldwide cover included for SMEs.
• Professional Liability Insurance Coverage for wrong advice and errors of omission, defamation claims, lost or damaged documents, and fee recovery for professional services SMEs.
• Environmental Liability Insurance Coverage for transport of hazardous substances and side tank spills, including clean-up costs and waste disposal for SMEs.
• Broadform Liability Insurance Coverage for self, business and employee protection in third-party claims, property damage and product liability for SMEs.
• MiBusiness Assist Business support services providing admin, marketing, financial, legal and labour support to help reduce operational costs for SME insurance clients.
• Mihelp (24/7 Emergency Assistance) 24/7 emergency service covering roadside assistance (towing, tyre change, battery jumpstart) and home emergencies (burst geyser, keys, medical emergencies), free with comprehensive car, home or business insurance policies up to the cover limits.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core, flagship and minor.

• Santam GroupcoreOthersMiway Insurance Ltd is a subsidiary of the Santam Group, South Africa's largest short-term insurer. As part of the Santam Group, MiWay operates under the group's regulatory framework and may share data with other Santam Group entities for marketing purposes with customer consent.
• Food for Life SAflagshipStrategic or Co-development PartnerMiWay partnered with Food for Life SA to launch the 'Miway to 30,000 Meals' initiative, timed for Mandela Day. The initiative was rolled out in KwaZulu-Natal (Newlands area) and Gauteng (Centurion and Midrand) to address immediate food needs in underprivileged communities. This forms part of MiWay's broader CSI strategy focused on sustainability, education, and community upliftment.
• MiDeskflagshipStrategic or Co-development PartnerMiWay partnered with global social enterprise MiDesk to donate 100 innovative multi-functional school desks to under-resourced learners in KwaZulu-Natal. Each unit functions as a school bag with wheels, converts into a personal desk and seat, and includes a built-in solar light. The partnership addresses barriers to learning in rural communities and aligns with MiWay's focus on sustainable socio-economic development through education.
• Blink by MiwayminorOthersBlink by Miway is a division of Miway Insurance Limited that runs promotional campaigns. Promotions by Blink by Miway are not applicable to policies underwritten through the Miway App, website or other digital mediums unless specifically stated.
• Insurance Crime Bureau (ICB)coreStrategic or Co-development PartnerThe Insurance Crime Bureau provides industry-wide fraud intelligence and data. MiWay participates in intelligence sharing across insurers, industry bodies and law enforcement to strengthen trust, resilience and sustainability within South Africa's insurance sector and combat organised fraud.
• National Financial Ombud Scheme South Africa (NFO)coreOthersIndependent regulatory body that resolves disputes between consumers and financial institutions fairly and impartially. MiWay's performance is measured against NFO benchmarks, with the company achieving a 5% overturn ratio in 2025.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Discovery Insure: Discovery Insure is a South African short-term insurer with a digital-first, direct-to-consumer model and a strong emphasis on behavioural rewards (Vitality programme). It competes head-to-head with MiWay in personal motor and home insurance, employing telematics-based pricing and customer engagement—directly comparable in product and target customer.
• Outsurance: Outsurance is a South African direct insurer operating on a similar digital-first, phone-supported model with a price-beat guarantee and bonus programmes. It targets the same personal and SME customer segments as MiWay and is one of its closest direct competitors.
• King Price Insurance: King Price is a South African direct-to-consumer short-term insurer known for its decreasing premium structure and strong digital brand. It competes directly with MiWay for personal lines (car, home) and SME customers via similar digital channels and price-led acquisition.
• Budget Insurance: Budget Insurance is a South African direct short-term insurer offering car, home, and business cover via digital and call centre channels. It competes with MiWay in price-sensitive personal lines and SME segments using a similar direct distribution model.
• Auto & General Insurance: Auto & General is a South African short-term insurer serving personal and commercial customers through direct and broker channels. It is a comparable peer for MiWay in both personal motor and SME business insurance, particularly in the mid-market.

Broad incumbents

• Old Mutual Insure: Old Mutual Insure is one of South Africa's largest general insurers offering personal and commercial short-term cover through multiple distribution channels. While broader than MiWay's direct digital model, it competes for the same SME and personal lines customers and represents a meaningful incumbent alternative.
• Hollard Insurance: Hollard is a major South African general insurer with a broad portfolio spanning personal, commercial, and specialty lines. It competes with MiWay across personal motor, home, and SME business insurance, offering both direct and intermediated distribution.
• Santam: Santam is South Africa's largest short-term insurer and MiWay's parent company. It offers a wide range of personal and commercial insurance products through intermediaries, serving as a peer in the broader SA short-term insurance market while also being MiWay's corporate parent.
• Momentum Insurance: Momentum is a South African financial services group offering short-term insurance alongside life and investment products. While broader than MiWay, it competes in personal and commercial short-term insurance through multiple distribution channels, serving as a meaningful incumbent alternative.

Emerging players

• Naked Insurance: Naked Insurance is a South African insurtech using an AI-driven, app-first model to sell car, home, and contents cover with low fees. It targets the same digitally native customer base as MiWay and represents an emerging competitive threat in the direct personal lines market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/miwayinsurance
• YouTubeyoutube.com/user/miwaysa
• Facebookfacebook.com/miway
• LinkedInlinkedin.com/company/1576742
• Instagraminstagram.com/miwayinsurance

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 MiWay