MetLife UK and YuLife have joined forces to create a new group life proposition.
Under the terms of this partnership MetLife underwrite YuLife’s group life policies. YuLife will continue to own its customer relationships, although MetLife will now be the underlying risk carrier and claims administration provider.
As part of this deal MetLife will offer its customers YuLife’s ‘innovative’ wellbeing proposition, which uses gamification techniques to increase customer engagement.
The two insurers said this partnership reflects their ‘aligned values’ and shared interest in improving the ongoing value of life insurance policies for customers.
MetLife UK managing director Dominic Grinstead says: “2021 has seen a rapid change to the working landscape with digital accelerating progress in many organisations.
“It’s crucial that insurance policies are accessible and engaging. We also recognise that the need for protecting more customers has never been greater, so it’s a particularly exciting time to partner with YuLife to expand our offering, and ultimately, support more customers with a comprehensive wellness offering.”
YuLife founder and CEO Sammy Rubin says: “MetLife is ideally positioned to support YuLife’s ongoing growth and development as we continue to deliver insurance policies that not only proactively incentivise health and wellbeing, but are grounded in exceptional service and delivery.”