12. Matthew Elan Smith, Ndabenhle Junior Ngulube, Marnus van Heerden
Vital Stats:
- Business: Pineapple
- Industry: Insurtech
- Business est: 2017
- Website: Pineapple.co.za
Pineapple is set to reinvent how insurance companies operate, by implementing an entirely new business model. “An incorrect structure and lack of transparency is destroying the traditional insurance business model. And there’s also a moral issue because people find it acceptable to defraud insurance companies. We want to change the way insurance is done,” explains Marnus van Heerden.
The aim of this South African start-up is to have fair, simple and relatable products, while decreasing costs, capping profits and deterring fraud, which will add more value for their clients.
“A member is in complete control of who they network to, not fixed pools — think Facebook friends. All leftover premium can be withdrawn at the end of each year and we show you exactly how your premium is used in real-time,” says Matthew Elan Smith.