Home Insurance Law Insurtech YuLife expands to South Africa

Insurtech YuLife expands to South Africa

Insurtech YuLife expands to South Africa


Life-focused insurtech YuLife has expanded and launched in South Africa.

Based in 2016, the insurtech gained traction within the UK by way of its group life insurance coverage.

YuLife’s group danger safety consists of every little thing in a standard group insurance coverage coverage, but additionally provides a wellbeing app and trusted help providers.

As well as, YuLife utilises the newest tendencies in behaviourial science and sport mechanics to encourage staff to make proactive way of life modified. It additionally prioritises prevention be de-risking people by way of wholesome actions.

Along with day-to-day wellbeing, YuLife offers vital wellbeing instruments and providers to additional stop sickness, each mentally and bodily. All staff with YuLife get entry to a digital GP service by way of Kena Well being, counseling and recommendation by way of ICAS, alongside entry to a number of wellbeing apps like Meditopia and Fiit.

“South Africa has the second highest insurance coverage penetration globally, making it an ideal marketplace for YuLife to develop into and showcase its modern method to insurance coverage,” mentioned Jaco Oosthuizen, YuLife co-founder and managing director of YuLife South Africa.

“There was a giant shift towards well being and wellbeing within the office, with an increasing number of firms including new initiatives and assets to their worker advantages packages. YuLife is launching in South Africa to supply firms a straightforward manner to offer further safety – we’re wanting ahead to offering South African companies and staff tangible worth on an on a regular basis foundation in an accessible, participating, and deliverable method.”

YuLife just lately expanded within the US and now covers over 600,000 group policyholders with over $50bn of protection in place.

It has secured an funding from funds and accounts suggested by T. Rowe Worth.

The newest funding is a part of YuLife’s $120m Sequence C spherical, which was led by Japanese insurance coverage large Dai-ichi Life in July 2022.

Particularly, YuLife will use the funding to help its deliberate enlargement within the US market.



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