Tech firm Yulife is the "world's first lifestyle insurance business"
AIG Life has partnered with tech start-up Yulife to provide life insurance and wellbeing tools to businesses and consumers.
The insurtech business, which uses behavioural science and artificial intelligence, is the brainchild of ex-Vitality CEO Sammy Rubin and will launch officially later this year.
Drawing upon technology to offer rewards and apps, Yulife is engineered to encourage customers to stay healthy holistically, while its B2B proposition is built to help business owners support the wellness of their employees.
All Yulife policies will be underwritten by AIG Life.
"AIG Life is very excited to be partnering with an innovative, fintech company like Yulife," said Nicola Dryden, partnerships director at AIG Life UK. "We're always looking for smart and easy ways to help customers take care of their families financially and enjoy better, more peaceful lives. Yulife's fresh thinking does just that and rewards customers for looking after tomorrow."
Sam Fromson has joined Rubin as Yulife COO, while former CEO of Momentum Multiply, Jaco Oosthuizen, is chief product officer for the firm and Josh Hart is chief technology officer. Ex-head of KPMG start-up team is Jonathan Roomer has taken the role of chief finance officer.
"Life insurance is an incredible product, but the proposition has to evolve to fit the needs of a new generation," said Sammy Rubin, founder and CEO of Yulife. "We are building the world's first lifestyle insurance business to put the customer at the centre. Rapid advances in consumer health technology and shifting attitudes mean that people want more from their insurance company. We want to rise to that challenge and help our customers to be the best version of themselves".
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