Swiss Re-backed digital insurer iptiQ and insurtech Clark UK, previously often known as Candid, have expanded their partnership with the launch of a brand new ‘over 50s’ providing within the UK.

The brand new life insurance coverage product is aimed toward folks aged between 50 and 80 years and will likely be launched below the present Winston model.

The providing will enable prospects to depart family with a lump sum that can be utilized to pay for a funeral or as a gift for the remaining dependents within the occasion of their dying, iptiQ defined.

Winston supplies assured approval with out requiring any medical checks, it added.

On this strategic alliance, iptiQ handles all important insurance coverage actions, together with claims processing and administration, whereas Clark UK stays targeted on advertising and distribution.

iptiQ EMEA regional market government Andreas Schertzinger mentioned: “Robust strategic partnerships are key to long-term success within the digital insurance coverage area. Clark UK and iptiQ share the identical imaginative and prescient and values – make insurance coverage extra accessible and inexpensive for a broader vary of consumers.

“I consider that is actually the muse of our partnership, and the rationale why it really works so properly for all sides.”

Clark UK CEO Matt Edwards mentioned: “We stay firmly dedicated to creating peace of thoughts for our prospects by way of intuitive and inexpensive insurance coverage merchandise.

“By leveraging our mixed information and experience in buyer expertise and digital insurance coverage, this expanded partnership with iptiQ is one other necessary milestone on our journey to serving to UK households get higher insurance coverage protection for his or her family members.”

The launch of ‘over 50s’ life insurance coverage builds on the partnership between iptiQ and Clark UK introduced in January this 12 months.