Simply Secures Funding
Simply , the South African startup which offers individual and group life insurance products, has secured a “significant” multi-year funding commitment from private investment group Yellowwoods, which also invested in Naked Insurance – South Africa’s AI-based car insurance provider.
Launched in 2016, and founded by Anthony Miller, Simon Nicholson, and Shaun Dippnall – who later left the insurance world, Simply offers family cover, domestic cover and group cover options, underwritten by Old Mutual.
“We plan to grow organically in South Africa under the Simply brand by positioning ourselves as the digital insurer of choice in specific niches that are likely to opt for a simple digital product. The world is moving online at an exponential pace. South African customers likewise are going digital faster than most existing players realize. It feels slow year to year, but over the next five to 10 years no one will believe how quickly things have changed.” – Cofounder and CEO, Anthony Miller.
“We’re seeing a shift in the way customers interact with and purchase financial services products. Our intention is to be ahead of the curve as a result of our investments in disruptive businesses such as Simply.” – Director of Yellowwoods, Scott Gilmour.