OneSpark Insurance aims to give back R1 Trillion to end South Africa’s Poverty
Meet OneSpark, the new insurer on the block that’s completely re-inventing insurance and doing everything they can to create a better future for all South Africans.
OneSpark’s founders, Greg Smith & Josh Kaplan have always been purpose-driven, passionate South African entrepreneurs. They have lived their lives under the single-minded pursuit of trying to uplift people and society at large. That’s why they became actuaries, designed dozens of award-winning insurance products, helped create one of Africa’s largest Social Impact Bonds and finally, started OneSpark, an insurance company with the sole purpose of helping the working class to lead better lives.
Their time in the insurance industry showed them that the current insurance landscape for the most vulnerable members of society was exploitative and making massive profits for insurers at the expense of consumers. Having regard to the words of the great Madiba “A nation should not be judged by how it treats its highest citizens, but its lowest ones”, they decided to change things and innovate for those who can’t do it for themselves.
Combining their commitment to socially responsible products with advanced technology they have created world-first insurance products where the premiums are 50% less than the market. While they were proud of this, it just wasn’t enough. They didn’t just want to help people save money, they wanted to empower them to lead better lives.
OneSpark’s goal: Change Lives and create a Nation of Millionaires.
With the help of several actuarial and product breakthroughs and patented algorithms, they have created a world first product which they believe has the power to change South Africa. They call it the Millionaire Funeral Plan. It pays R50 000 if you claim and R1 million if you don’t, for a premium starting from only 99c per day.
They also wanted to give South Africans the dignity and financial freedom to own their own homes, own their own cars, send their children to university and put food on the table for years, while ensuring they are comprehensively protected should they pass away or suffer a disability. So, they designed world-first affordable life and disability products to do just this. At calculated needs-matched durations, clients can get a R1 million cashback to buy their own home, a R500 000 cashback to buy their dream car, a R250 000 cashback to send their children to university, and a R100 000 cashback so that no one goes to bed hungry.
These breakthroughs, among their other world first products that are soon to roll out, helped earn OneSpark the backing of some of the largest and most trusted names in insurance globally, giving OneSpark the ability to grow, scale quickly and change as many lives as possible.
OneSpark’s vision: For every one million South Africans we protect, our products will inject at least R1 trillion back into the South African economy.
If OneSpark gets to protect a million South Africans, that’s at least R1 trillion that that they can give back to the most vulnerable members of our society, helping to change the trajectory of South Africa at large.
Our president has asked for South Africans to stand up, find innovative solutions and fight for a better future for our people. OneSpark is doing their part to help create a better South Africa for all.
We’re excited to change lives and can’t wait to see how many South Africans we can make millionaires! Looking to change your life too? Then take a look at our Millionaire Funeral Plan, from only 99 cents a day. For further information and to sign up, visit www.onespark.co.za.
