OneSpark
AI-powered, pay-as-you-need life and funeral insurance MGA, now operating as Dis-Chem Life following a 2024 majority-stake acquisition by Dis-Chem Pharmacies.
Overview
OneSpark is a life, funeral, and income-protection insurance MGA that sells directly to consumers in South Africa, with a product design built around low-income and underserved households. Rather than fixed long-term contracts, its policies use an AI-driven pricing engine that recalculates premiums and cover annually to match a customer's changing needs, with an aim of keeping administrative overhead - and therefore premiums - lower than incumbent insurers.
OneSpark holds authorisation as a Financial Services Provider and places its policies with Guardrisk Life Limited, a licensed insurer and subsidiary of Momentum Metropolitan Holdings, with reinsurance support from Gen Re. The company markets a claims turnaround of 4 to 48 hours across its funeral and life products.
In June 2024, Dis-Chem Pharmacies Limited, a JSE-listed retail pharmacy chain operating more than 350 stores in South Africa, agreed to acquire a 50% stake in OneSpark for ZAR 155.9 million. The combined venture launched publicly in February 2025 as Dis-Chem Life, retaining OneSpark's underwriting relationships and AI-driven pricing technology while distributing through Dis-Chem's retail footprint and "Better Rewards" loyalty program. OneSpark had sold hundreds of thousands of policies under its original brand and was named the world's most innovative company in life insurance in 2021.
Products & Services
Life Cover
Financial protection payout to beneficiaries on the policyholder's death, priced from ZAR 99 per month.
Key Features
- Cover of up to ZAR 10 million
- AI-recalculated premiums that adjust to changing needs annually
- No fixed long-term contract
Target Users: Individual consumers, including low-income and underserved households
Distribution: Direct to consumer, via online instant-quote engine and the Dis-Chem mobile app
Funeral Cover
Covers up to 21 family members, priced from ZAR 49 per month, with claims paid within 4 to 48 hours.
Key Features
- Cover for up to 21 family members
- Payout of up to ZAR 125,000
- Fast claims turnaround (4-48 hours)
Target Users: Households seeking funeral expense protection
Distribution: Direct to consumer
Critical Illness Cover
Lump-sum payout on diagnosis of cancer, heart attack, or stroke, priced from ZAR 99 per month.
Target Users: Individual consumers
Distribution: Direct to consumer
Disability Cover
Cash support if illness or injury prevents the policyholder from working, priced from ZAR 79 per month.
Target Users: Working individuals
Distribution: Direct to consumer
Income Protection
Monthly income replacement during a period of disability, priced from ZAR 109 per month.
Target Users: Working individuals
Distribution: Direct to consumer
Grocery Protector
Provides up to ZAR 75,000 to cover household food expenses following a claim event, priced from ZAR 51 per month.
Distribution: Direct to consumer
Education Protector
Supports children's school costs following a claim event, priced from ZAR 61 per month.
Distribution: Direct to consumer
At a Glance
- Founded
- 2019
- Headquarters
- Johannesburg, South Africa
- Employees
- 51-200
Category & Focus
Last updated: 2026-08-12