Econorisk
Econorisk is a South African short-term insurance brokerage and risk advisory firm founded in 2001, serving individuals, SMEs, corporates, and niche industry segments. It manages over R1 billion in annual premiums through 150+ staff across Johannesburg, Cape Town, and Durban, and supports 22+ independent brokers via its Broker Partner Model.
- Company typePrivate
- Founded2001
- HeadquartersBryanston, South Africa
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Econorisk does
Econorisk (Pty) Ltd is a privately held South African short-term insurance brokerage and risk advisory firm founded in 2001 and headquartered in Johannesburg, with additional offices in Cape Town and Durban. The company distributes insurance products on behalf of a panel that includes A-rated insurers such as Allianz, AIG, Santam, Hollard, Old Mutual, Bryte, Chubb, Discovery Insure, Swiss Re, and Lloyd's, alongside more than 80 Underwriting Management Agencies (UMAs). It manages R1 billion in annual premiums and employs more than 150 qualified staff across underwriting, finance, sales, IT, HR, and compliance functions.
Econorisk serves three primary customer segments: individual consumers (home, motor, high net worth, personal cyber, pet, travel, tyre insurance), corporate and commercial clients ranging from SMEs to large enterprises (general business, property, commercial cyber, D&O, professional indemnity, engineering, marine, heavy commercial vehicle), and niche industry segments requiring bespoke solutions (agricultural, courier, legal practitioners, medical malpractice, motor traders). The company operates a Broker Partner Model that supports 22+ independent short-term insurance brokers with binder access, underwriting, claims handling, compliance, and technology infrastructure while allowing partner brokers to retain 100% ownership of their client books.
Revenue is generated primarily through insurance brokerage commissions on placed premium volume, supplemented by a small percentage retained from broker partner commission and broking fees to fund the Broker Partner Programme's operational support. The technology backbone consists of System A (Tial Technologies) for multi-insurer policy administration, the Microsoft suite for internal operations, and the Econorisk Assist mobile application for policyholder self-service. The firm is FSCA-accredited, an FIA member, and compliant with FAIS, FIC, and POPIA requirements, with Professional Indemnity cover materially exceeding FSCA minimums. Leadership comprises Joint CEOs Matthew van den Heuvel (Chartered Accountant, ex-M&A background) and Andrew Lilley.
Econorisk firmographics
Firmographics- Name
- Econorisk
- Legal name
- Econorisk (Pty) Ltd
- Website
- https://econorisk.co.za
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Econorisk is a South African short-term insurance brokerage and risk advisory firm founded in 2001, serving individuals, SMEs, corporates, and niche industry segments. It manages over R1 billion in annual premiums through 150+ staff across Johannesburg, Cape Town, and Durban, and supports 22+ independent brokers via its Broker Partner Model.
- Ownership category
- akta.pro rank
Econorisk industry classification
Industry- Product category
- Insurance Brokerage
- NAICS
- Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Risk Management Consulting (Enterprise & Operational Risk) (FSAEADAG)
Keywords
Where Econorisk is headquartered
LocationHeadquarters
- HQ city
- Bryanston
- HQ country
- South Africa
- HQ region
- Africa
Offices3 records
Markets served
Econorisk business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Insurance Brokerage Commissions: Econorisk earns commissions from insurance companies for placing client business. The company works with binder agreements with leading A-rated insurers and over 80 Underwriting Management Agencies (UMAs).
- Broker Partner Programme Fees: A small percentage of commission and broking fees is retained to support operational and administrative running of the Broker Partner Programme, including compliance, underwriting, claims, and administrative support services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Bronze Tier - R60 per month |
| Subscription | Monthly | Silver Tier - R85 per month |
| Subscription | Monthly | Gold Tier - R110 per month |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels8 records
Econorisk product offering
Product offeringCore offering
Econorisk is a South African short-term insurance brokerage and risk advisory firm that intermediates personal, commercial, and niche industry insurance coverage on behalf of clients. The company places client risks with leading A-rated insurers through binder agreements and relationships with over 80 Underwriting Management Agencies, while also providing risk advisory, claims handling, and the Broker Partner Model for independent brokers.
Product overview
Econorisk is a South African short-term insurance brokerage offering a comprehensive portfolio of insurance products and services. The core offerings include Personal Insurance (home, motor, High Net Worth), Corporate and Commercial Insurance, and Tailored Insurance Solutions for niche segments. The product suite encompasses over 16 specialised insurance categories including Agricultural, Buildings, Courier, Commercial Cyber, Directors & Officers Liability, Engineering, Heavy Commercial Vehicle, Legal Practitioners, Marine, Medical Malpractice, Motor Traders, Personal Cyber, Pet, Professional Indemnity, Travel, and Tyre Insurance. The Econorisk Assist App serves as the primary digital platform for policyholders to manage policies, lodge claims, and access roadside assistance. The Broker Partner Model provides an operational support platform for independent brokers with access to System A technology and Microsoft tools.
Differentiator
Problem solved
Functional benefit
Brands
- Econorisk Assist: Mobile application for risk management, claims lodgement, roadside assistance, photo evidence recording, and emergency/pandemic alert features.
Products and services
- Personal Insurance Home and motor insurance covering personal assets for individual consumers, including High Net Worth Insurance offerings. Designed for individual policyholders needing protection for personal property and vehicles.
- Corporate and Commercial Insurance General business insurance for all industry market segments, ranging from SMEs to large corporate enterprises. Covers commercial property, liability, and operational risks.
- Tailored Insurance Solutions Bespoke insurance solutions for niche industry segments requiring specialist knowledge, including agricultural, buildings, courier, cyber, engineering, marine, motor trade, and professional liability covers.
- Tyre Insurance Tyre protection insurance covering repair or replacement costs for tyres and rims damaged by unexpected road hazards, available in Bronze, Silver, and Gold subscription tiers for individual vehicle owners.
- Travel Insurance Travel insurance covering emergency medical expenses, trip cancellation or interruption, personal belongings, business cover, and Schengen visa requirements for individual travellers.
- Pet Insurance Pet insurance covering accidents, illness, wellness and preventative care, dentistry, specialist referrals, and complementary treatments for dogs and cats owned by individual consumers.
- Personal Cyber Insurance Cyber insurance protecting personal digital presence against theft of funds, identity theft, data restoration, malware, cyber extortion, cyberbullying, and cyber stalking for individual consumers, through the MY CYlution product underwritten by ITOO Insurance.
- Commercial Cyber Insurance Business cyber insurance covering data breach response, business interruption, cyber extortion/ransomware, third-party liability, legal and regulatory costs, and crisis management for corporate clients.
- Professional Indemnity Insurance Protection for businesses against claims alleging negligence, errors, omissions, or breach of professional duty. Targeted at professional service firms.
- Medical Malpractice Insurance Specialised cover protecting healthcare professionals from financial loss arising from claims of negligence or errors in medical care.
- Marine Insurance Comprehensive marine insurance covering marine cargo, marine liability, ship repairers legal liability, carriers legal liability, ALOP/DSU, marine stock throughput, commercial hull, pleasure craft, and boat builders insurance.
- Legal Practitioners Insurance
Quantifiable outcome
- R1 billion in annual premiums managed
- +3 more outcomes
Companies that use Econorisk
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Econorisk technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Econorisk partnerships and signals
Strategic signalPartnerships
21 partnerships are on record, tiered core and major.
- AllianzcoreMajor international insurer with A-rated security; part of Econorisk's panel of leading insurers through binder agreements
- AIGcoreGlobal insurance giant providing short-term insurance solutions through Econorisk's broker network
- SantamcoreSouth Africa's largest short-term insurer; strategic partner with 15+ year relationship; awarded Econorisk Specialist Broker Evolving Growth Award
- HollardcoreLeading South African insurance group providing personal, commercial, and specialist insurance solutions
- Old MutualcoreMajor financial services company offering short-term insurance products through broker partnerships
- BrytecoreSpecialist insurer providing commercial and corporate insurance solutions
- Chubb InsurancecoreGlobal property and casualty insurance company serving South African market
- Discovery InsurecoreInnovative insurer with behavioural-based insurance products
- Swiss Re Corporate SolutionscoreGlobal reinsurance and risk transfer solutions provider
- LloydscoreAccess to Lloyd's of London insurance market for specialist and complex risks
- CIB (Corporate and Industrial Business)coreSpecialist insurer; 15+ year partnership; awarded Econorisk Top 5 Broker Award for 2025
- Momentum InsurecorePart of Momentum Metropolitan; providing short-term insurance solutions
- Guardrisk Insurance CompanycoreSpecialist risk and insurance solutions provider
- Standard BankcoreMajor South African bank with insurance offerings through broker partnerships
- Axxis Risk SolutionsmajorRisk solutions provider in Econorisk's network
- HIC Underwriting ManagersmajorUnderwriting management agency in Econorisk's UMA network
- Paladin Underwriting ManagersmajorUnderwriting management agency in Econorisk's network
- Partner Risk SolutionsmajorRisk solutions provider in Econorisk's partner network
- Integrated Insurance AdministratorsmajorInsurance administration service provider
- LombardmajorInsurance provider in Econorisk's network
- ITOO InsurancemajorProvider of [MY]CYlution personal cyber insurance underwritten for Econorisk clients
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Econorisk competitors and assessment
Company assessmentDirect peers
- Indwe Risk Services: One of South Africa's largest independent short-term insurance brokerages, offering personal, commercial, and specialist cover across the country. Closest direct competitor to Econorisk by business model, customer segments, and product breadth within the SA market.
- Aon South Africa: Global insurance and reinsurance broker with a substantial South African presence, providing risk advisory and broking across commercial and specialty lines. Directly comparable in core brokerage activity but with materially larger scale, capital base, and specialty expertise.
- Renasa Insurance Brokers: South African short-term insurance broker with national reach offering personal, commercial, and niche insurance solutions. Comparable to Econorisk in target market, multi-carrier distribution approach, and product portfolio.
- Willis Towers Watson (WTW) South Africa: International advisory and broking firm with South African operations covering insurance placement, risk management, and actuarial consulting. Overlaps with Econorisk's commercial and corporate client base, particularly on complex and specialty risks.
- Howden South Africa: International insurance broker group with a growing South African footprint focused on commercial and specialty lines. Comparable in client target and broker-led distribution model, though with global backing and a more specialist positioning.
- Marsh South Africa: Global insurance broker and risk advisor serving South African corporates across P&C, specialty, and risk consulting. Comparable in risk advisory and placement services, competing for the same enterprise and mid-market clients as Econorisk.
Broad incumbents
- Santam: South Africa's largest short-term insurer and a key Econorisk carrier partner. Not a direct broker competitor at retail level, but as a major underwriter and the owner of broker distribution channels, it competes for placement and shapes commission economics for the broker channel.
- Hollard Insurance Group: Major South African insurance group offering personal, commercial, and specialist cover across multiple brands. Competes with Econorisk indirectly through its own broker partnerships and direct channels, and is simultaneously a key carrier partner via binder agreements.
- Old Mutual Insure: Insurance arm of Old Mutual offering short-term personal and commercial cover in South Africa. Both a partner of Econorisk via binder agreements and a broad market competitor through its own distribution footprint and tied-agent network.
Emerging players
- Discovery Insure: Behavioural- and data-driven short-term insurer in South Africa with a strong direct and digital distribution model. Adjacent rather than directly overlapping with Econorisk today, but a key indicator of where the market is moving and a structural disintermediation risk for traditional broker channels.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Econorisk social profiles
Digital presenceEconorisk compliance and trust
Trust signalCompliance5 records
Econorisk financial estimates
Financial estimateRevenue estimate
Valuation estimate
Econorisk leadership team
Management profileNumber of profiles
Profiles2 records
Econorisk funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Econorisk 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 Econorisk
What does Econorisk do?
Econorisk is a South African short-term insurance brokerage and risk advisory firm that intermediates personal, commercial, and niche industry insurance coverage on behalf of clients. The company places client risks with leading A-rated insurers through binder agreements and relationships with over 80 Underwriting Management Agencies, while also providing risk advisory, claims handling, and the Broker Partner Model for independent brokers.
Is Econorisk a public or private company?
Econorisk is a private company. It is classified as management employee owned and is currently operating.
When was Econorisk founded?
Econorisk was founded in 2001. It employs 101 to 250 people.
Where is Econorisk based?
Econorisk is headquartered in Bryanston, South Africa, in the Africa region.
How does Econorisk make money?
Two revenue lines are on record. Insurance Brokerage Commissions are the primary driver. The others are broker Partner Programme Fees.
Who are Econorisk's main competitors?
Direct peers on record are Indwe Risk Services, Aon South Africa, Renasa Insurance Brokers, Willis Towers Watson (WTW) South Africa, Howden South Africa and Marsh South Africa. Broad incumbents are Santam, Hollard Insurance Group and Old Mutual Insure. Discovery Insure is listed as an emerging player.
Does Econorisk have an API?
No public API is recorded for Econorisk.
What industry is Econorisk in?
Econorisk's product category is Insurance Brokerage. Its primary akta.pro industry code is FSAEADAG, Risk Management Consulting (Enterprise & Operational Risk). Its NAICS code is 524210 and its SIC code is 6411.