Life.io, a life insurance platform which rewards healthy behaviour, has received an increased investment from SE2.
Following the deal close, SE2 will become the majority owner in Life.io. The existing management team will continue to lead operations of the InsurTech.
SE2 offers business processes and third-party administration services to the life and annuity insurance carriers. The platform’s end-to-end digital platform helps carriers to establish digital channels, launch products, optimise costs of closed blocks, shift to a variable cost model and improve efficiencies.
In working together, the companies will support the digital transformation of life and annuity insurance carriers in their development and launch of new products and consumer loyalty programs within the market. This combined solution gives the ability to provide engaging and personalised experiences to policyholders.
New Jersey-headquartered Life.io gives carriers the tools to reward their policyholders. The company engages with customers through an interactive platform which rewards them for taking steps to improve their physical, mental and financial wellbeing. It achieves this by leveraging data from educational content, wearables and life events.
Behavioural economics, social psychology and personalised content helps to foster customer engagement.
Life.io CEO and co-founder Jon Cooper said, “SE2 and Life.io’s collaborative focus on delivering customer centricity and technology will be a true asset to carriers looking for efficient and effective solutions in a landscape where consumer expectations for fast, easy, and fun digital experiences continue to increase,”