The British isles-primarily based tech-pushed monetary products and services manufacturer is building a entire world of insurance policies, reward, wellness & wellbeing for US workforce
LONDON, Oct. 25, 2022 /PRNewswire/ — YuLife, the tech-pushed fiscal providers model on a mission to inspire daily life, nowadays declared that it is launching in the United States. Founded in London in 2016, YuLife reached rapid traction in the United kingdom insurance policy marketplace by way of its flagship item, team lifetime insurance policy. The firm’s growth into the US marks a substantial milestone as it seeks to redefine how people close to the entire world derive value from monetary solutions.
Insurance carriers in the US, the world’s premier insurance policies industry, have very long sought to greatly enhance engagement with their items and supply additional price to workforce. At the same time, US businesses are having difficulties to proactively guidance employees’ wellness and wellbeing, a pattern exacerbated by the Covid-19 pandemic and the ‘Great Resignation’. YuLife’s holistic staff rewards and wellbeing system harnesses the most up-to-date traits in behavioral science and game mechanics to encourage workers to make proactive way of life adjustments, while also prioritizing prevention by de-risking individuals as a result of nutritious pursuits. The YuLife featuring allows employees to make benefits by finishing each day wellness pursuits, incorporating value and engagement in the place of work, in change helping firms benefit from much healthier and extra motivated groups.
YuLife is obtainable in partnership with leading coverage corporations and benefit brokers and advisers.
“Coverage has the likely to accomplish remarkable social great. Unusually for monetary products and services, our product generates a deep alignment of passions involving insurers, businesses and individuals,” stated Sammy Rubin, CEO and Founder, YuLife. “YuLife’s mission is to turn monetary items into a pressure for fantastic, and we can encourage persons throughout the US to strengthen their psychological, physical and money wellbeing by providing items that are accessible, participating and deliverable.”
Prioritizing gamification makes sure that YuLife appeals to unmatched ranges of engagement and is valued and savored by staff members. About 67% of qualified employees obtain and engage with the progressive, activity-like YuLife application, through which employees can gain benefits by finishing everyday nutritious actions, with in excess of a 3rd of users applying the YuLife app every solitary day – compared to just a single touchpoint for every year for the ordinary insurance company. Soon after a calendar year of membership, 50% of customers continue to use the application on a regular basis. The average YuLife consumer takes in excess of 6,300 actions per day (when compared to a US typical of 4,500), and an employee’s average every day step rely improves by 28% when they begin to use the application. 85% of YuLife users really feel extra productive as a result of YuLife and 67% of YuLife members concur that they are living healthier life as a result of YuLife. *
Because its basis in 2016, YuLife has grown fast in an sector missing in innovation. The company now handles >500k team policyholders throughout little to big enterprises, with above $50bn of coverage in place. YuLife has noticed far more than 5x growth in premiums calendar year-on-12 months, and in July 2022 elevated a $120M Series C led by Dai-ichi Existence with participation from T. Rowe Selling price, bringing the company’s full funding to $206M.
Notes for Editors
All figures, until in any other case stated, are taken from YuLife internal information, accurate to August 2022.
YuLife is a tech-driven money companies brand name on a mission to encourage lifestyle and convert economic products and solutions into a power for great. By harnessing the ability of technological innovation and the most recent behavioral science, YuLife’s insurance policy product focuses on risk prevention, not just promises compensation. The company is reworking the worker positive aspects industry by fulfilling workers for nutritious living, supporting mental, physical and monetary wellbeing and encouraging foster healthier, happier and much more motivated groups. Founded in 2016, YuLife is headquartered in London and backed by world insurers and enterprise money. https://www.YuLife.com/.
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