UK start-up Yulife to bring life to insurtech
Yulife claims to be the first lifestyle insurance business in the world, and will launch later in the year offering life insurance plus wellbeing tools for businesses and individuals.
The firm uses game design and rewards to “give you the TLC (tender loving care) you need”, but traditional life insurance lacks.
On the website, Yulife claims to draw from tech, psychology, wellbeing and behaviour change fields to create the product.
Yulife says it will draw data from other wellbeing apps to help users manage their insurance and provide them with rewards.
This upcoming insurer is backed by UK insurance company AIG Life, which will underwrite all insurances issued by Yulife.
The company was founded by Sam Fromson and Sammy Robin, who now hold the COO and CEO positions, respectively. Robin was the founding CEO of insurer Vitality Life.
“Rapid advances in consumer health technology and shifting attitudes mean that people want more from their insurance company,” says Robin.
“We’re a new type of insurance company that uses behavioural science and artificial intelligence (AI) to help build deeper and more rewarding relationships with our customers,” adds Fromson.
Yulife is based in Camden, London, with a team of 20 people at this moment.