Yulife, an insurtech start-up, has partnered with AIG Life to launch a “lifestyle insurance business” to the UK market.
The Camden-based company will launch later this year, providing life insurance and wellbeing tools to businesses and consumers via technology.
The policies will be underwritten by AIG Life.
Yulife aims to enhance the lives of insured people by using innovative technology, rewards and apps. It said it will motivate customers to keep “holistically healthy” by working with a range of wellbeing brands.
The company is the latest venture of Sammy Rubin, who was the founding chief executive of PruProtect (now Vitality Life).
Rubin said life insurance is has to evolve to fit the needs of a new generation.
“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,” he stated.
Nicola Dryden, partnerships director at AIG Life UK, said the insurer is 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,” she added.