Swain hit four 3s, Jamie Montgomery hit three and the Storm (3-2) made 13 from downtown as a team in the loss.
Madison scored a game-high 27 and went 5-for-10 from downtown and Alec Schwab scored 17 on 5-for-14 from shooting from beyond the arch as the Statesmen (8-3) pulled away in the second half.
Simpson trailed by just seven at the half, 51-44, but William Penn opened the second on a 14-1 run as Simpson struggled to get on the board.
The Storm went a little over seven minutes before getting their first points from the field in the second half when Sam Amsbaugh made a layup.
Simpson made a late run when, down 77-67, Swain and Skaar made back-to-back 3s to help pull within six at 79-73. But Kelly hit a pair of free throws on the next possession, Montgomery misfired on a 3 and Simpson couldn't pull any closer.
Up Next: Simpson travels to the Nebraska Wesleyan Snyder Classic in Lincoln, Neb. this weekend. The Storm will face Concordia-Moorhead on Friday at 5:30 p.m. and the host Prairie Wolves at 7:30 on Saturday.
Notes: Simpson's 13 3-pointers are the most in a game since also making 13 against Crown on Dec. 10, 2010 ... the mark is tied for the second highest in school history (17 vs. Dubuque, Feb. 22, 2003).