Simfuni Company Profile

Background

Overview

Simfuni is an award-winning insurtech company specializing in modernizing insurance premium management through innovative software solutions. Founded in 2022 by Shaun Quincey and Damon O'Neill, the company is headquartered in Auckland, New Zealand, with additional offices in Ultimo, New South Wales, Australia. Simfuni's mission is to simplify insurance processes, enhancing both operational efficiency for insurers and the overall experience for policyholders. Their platform integrates seamlessly with existing insurance systems, offering a suite of tools that improve customer engagement, streamline back-office operations, and ensure compliance at scale.

Mission and Vision

Simfuni aims to transform the insurance industry by providing modern, cloud-based solutions that address the inefficiencies of legacy systems. Their vision is to create a unified platform that simplifies complex insurance processes, enabling insurers to deliver superior service and policyholders to enjoy a seamless experience.

Industry Significance

Operating within the insurtech sector, Simfuni plays a pivotal role in driving digital transformation in the insurance industry. By addressing common challenges such as manual reconciliation, billing, and arrears management, Simfuni contributes to the modernization of insurance operations, fostering greater efficiency and customer satisfaction.

Key Strategic Focus

Core Objectives

Simfuni's primary objectives include:

Modernizing Insurance Operations: Streamlining back-office tasks such as reconciliation, billing, and arrears management to enhance operational efficiency.

Enhancing Customer Experience: Providing policyholders with intuitive, self-service tools and flexible payment options to improve engagement and satisfaction.

Ensuring Compliance: Developing solutions that assist insurers in meeting regulatory requirements, including compliance with the Contracts of Insurance Act and other relevant legislation.

Areas of Specialization

Simfuni specializes in:

Insurance Premium Management: Automating billing, payments, reconciliation, and arrears management through a centralized Revenue Control Hub™.

Policyholder Engagement: Offering customizable white-label experiences across payments, self-service portals, and renewals.

Regulatory Compliance: Providing tools that simplify compliance with evolving insurance regulations.

Key Technologies Utilized

The company leverages:

Cloud Computing: Utilizing scalable and cost-effective cloud solutions to ensure platform reliability and performance.

Modular, API-Enabled Design: Allowing for flexible integration with existing insurance systems and rapid deployment of new products.

Artificial Intelligence (AI): Incorporating AI to enhance automation, predictive analytics, and decision-making processes.

Primary Markets Targeted

Simfuni primarily targets:

Life Insurers: Focusing on modernizing policy administration and enhancing customer interactions.

Insurance Brokers: Providing tools to improve operational efficiency and customer service.

Third-Party Administrators: Offering solutions to streamline back-office operations and ensure compliance.

Financials and Funding

Total Funds Raised

As of August 2025, Simfuni has raised a total of NZ$5.8 million.

Recent Funding Rounds

August 2025: Completed a NZ$3 million capital raise led by Icehouse Ventures, with contributions from GD1, Ecliptic Capital, Kent Gardner, and other existing investors.

Notable Investors

Icehouse Ventures: A New Zealand-based venture capital firm.

GD1: A venture capital firm focusing on early-stage investments.

Ecliptic Capital: A venture capital firm investing in high-growth companies.

Kent Gardner: Chair of Jasper, involved in various investment activities.

Intended Utilization of Capital

The funds are allocated towards:

Enhancing Automation and AI Capabilities: Strengthening the platform's automation features and integrating advanced AI functionalities.

Expanding Regional Presence: Increasing market penetration in Australia and New Zealand.

Developing Tools for Insurers: Creating additional tools to support insurers in both regions.

Pipeline Development

Key Pipeline Candidates

Simfuni's platform includes:

Revenue Control Hub™: A centralized system for managing billing, payments, reconciliation, and arrears.

Customer Self-Service Portal: Enabling policyholders to manage their accounts and payments independently.

Stages of Development

Both components are fully developed and operational, with ongoing enhancements to incorporate new features and improve user experience.

Target Conditions

The platform addresses operational inefficiencies and compliance challenges within the insurance industry.

Anticipated Milestones

Future milestones include:

Product Expansion: Introducing additional modules to further streamline insurance operations.

Market Expansion: Entering new regional markets beyond Australia and New Zealand.

Technological Platform and Innovation

Proprietary Technologies

Revenue Control Hub™: A proprietary system that centralizes and automates insurance premium management processes.

Significant Scientific Methods

Modular, API-Enabled Architecture: Facilitates seamless integration with existing insurance systems and rapid deployment of new products.

AI-Driven Automation: Enhances operational efficiency and decision-making through advanced analytics.

Leadership Team

Shaun Quincey – CEO

With over 17 years of experience in payments across the UK, USA, Australia, and New Zealand, Shaun has built and led high-growth payment companies from startups to publicly listed organizations. He is a seasoned financial services entrepreneur with expertise in building and scaling regulated and unregulated solutions for enterprise and early-stage startups.

Damon O’Neill – CTO

Damon has over 20 years of experience in software engineering across South Africa, UK, USA, Australia, and New Zealand, in a wide variety of industries, including telecom, finance, and health.

Tim von Dadelszen – Chief Product Officer

Appointed in May 2025, Tim brings extensive experience in digital innovation and insurtech product leadership. He co-founded Life Direct and Quotemonster and has held senior roles at Trade Me Insurance and Partners Life.

Leadership Changes

May 2025: Appointment of Tim von Dadelszen as Chief Product Officer to lead product innovation.

Competitor Profile

Market Insights and Dynamics

The insurtech sector is experiencing rapid growth, with increasing adoption of digital solutions by traditional insurers. The market is characterized by a demand for modernization, efficiency, and enhanced customer experiences.

Competitor Analysis

Key competitors include Clover Insurance Australia, Curium, FreightInsure, and SyncTechnologies. These companies offer various insurtech solutions, but Simfuni differentiates itself through its comprehensive, modular platform that integrates seamlessly with existing insurance systems.

Strategic Collaborations and Partnerships

Visa

Partnered with Visa through their payment gateway Cybersource to ensure secure, simple, and fast payment facilitation.

Amazon Web Services (AWS)

Utilizing AWS for scalable and cost-effective cloud computing solutions, ensuring the Simfuni platform scales with customer needs.

AssuranceLab

Collaborating with AssuranceLab for information security audits under the System and Organisation Control ('SOC') standards, ensuring compliance with SOC2 standards.

Operational Insights

Simfuni's strategic focus on modernizing insurance operations positions it favorably against competitors. The company's modular, API-enabled platform offers flexibility and scalability, allowing insurers to adapt quickly to market changes and regulatory requirements. This adaptability, combined with a strong leadership team and strategic partnerships, provides Simfuni with a distinct competitive advantage.

Strategic Opportunities and Future Directions

Product Expansion

Simfuni plans to introduce additional modules to further streamline insurance operations, enhancing its value proposition to insurers and policyholders.

Market Expansion

The company aims to expand into new regional markets beyond Australia and New Zealand, leveraging its scalable platform to address global insurance industry challenges.