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Hollard Makes Strategic Investment in Life Insurance Disruptor

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Disruption in the world of Insurance is the buzzword of the day in the industry. In a move poised to shake up the South African mass-market life insurance landscape, the Hollard Group makes a significant strategic investment in South African based insurtech, Simply Financial Services. Simply, a registered FSP and insurance software developer, was founded in 2016 by entrepreneurs Anthony Miller and actuary Simon Nicholson.

Hollards Seed Investment in Naked and Dotsure

The Simply deal follows Hollard’s seed investments in Naked and Dotsure, also insurtech market disruptors in their own right, and ties in with Hollard’s growth aspirations in the field of digitally driven insurance solutions.


Starting with direct life, disability and funeral cover for individuals and domestic workers, the Simply team made a significant move into the SME and broker spaces in 2020. Their model redefines the traditional approach to life insurance for lower- and middle-income earners, using proprietary technology and intuitive design to deliver flexible, affordably-priced retail and group policies with high persistency rates.

Turning the Traditional Insurance Model Up-Side Down

Co-founder Anthony Miller says, “The current model for long term insurance in the mass market is unsustainable – there’s an oversupply of expensive, standalone retail products, especially funeral cover, with high policyholder churn and, ultimately, low value for money for customers.”

Simply turns that model on its head by offering customers combinations of benefits – such as life, disability and funeral cover – and getting employers to pay the premiums where possible.

Another feature about the business model that stands out is its ability to scale through white-label partnerships with brands looking to accelerate their digital trajectories. The business currently has three white-label partnerships in South Africa, and has its sights set on expanding this offering internationally.

Miller believes that having the backing of South Africa’s largest privately owned insurer will help enable the business export its model to to other markets.

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