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Partners& Sees 99% Retention and 1 in 3 New Business Wins in Game-Changing Partnership with YuLife
LONDON, July 1, 2024 /PRNewswire/ — Partners&, a leading independent insurance broker, is proud to announce the remarkable success of its partnership with YuLife, the tech-driven insurance company on a mission to inspire life. The collaboration, which began in 2021, has driven significant growth and unprecedented retention rates, transforming the insurance landscape for both companies and their customers.
YuLife’s innovative approach to insurance goes beyond traditional policies by offering group life, health, and income protection policies that actively enhance members’ physical, mental, financial, and social wellbeing. Through its unique model, YuLife incentivises people to build healthier habits, focusing on risk prevention rather than merely compensating claims.
Through the partnership, Partners& has achieved a 99% retention rate and has successfully won 39% of business from clients who previously had no insurance coverage. These impressive metrics highlight the true value of a win-win partnership – the transformative impact of YuLife’s innovative approach to insurance and Partners&’s commitment to delivering exceptional value.
“We are delighted with the outstanding results of our partnership with YuLife,” said Phil Barton, CEO of Partners&. “Our collaboration has not only fueled our business growth but has also brought transformative insurance solutions to our clients, promoting their holistic wellbeing. YuLife’s unique focus on inspiring healthier lifestyles aligns perfectly with our mission to provide comprehensive, client-centric insurance services.”
Key highlights of the partnership include:
Closing the protection gap: 39% of Partners& x YuLife customers are new to purchasing insurance.
Improving retention: Achieving over 99% retention rate, compared to an industry average of 80-85%.
Insurance that is loved: The Net Promoter Score (NPS) of Partners& x YuLife is 96, over 3x the industry average.
High employee engagement: 73% of insured employees use the YuLife app regularly, over 10 times the average usage of standard consumer health apps.
“We are thrilled to see the tangible benefits of our partnership with Partners&,” said Sammy Rubin, CEO and Founder of YuLife. “Together, we are reshaping the insurance industry, providing clients with products that not only protect them but also enhance their overall wellbeing. Our shared commitment to innovation and employee engagement has been key to our success.”
About Partners&
Partners& is an award winning, Chartered insurance broker providing high quality, seamless insurance, employee benefits, risk management and claims advice to businesses and private clients. As a next generation insurance advisory business, Partners& combines the best traditions of broking, such as technical advice and client service, with modern thinking and intelligent use of technology, to enhance the client experience and create a dynamic workplace for its talented team. https://www.partnersand.com
Media Contact
Malia Brown
Marketing and communications director
malia.brown@partnersand.com
+44 7919 551962
About YuLife
YuLife is a tech-driven financial services brand on a mission to inspire life and turn financial products into a force for good. By harnessing the power of technology and the latest behavioural science, YuLife’s insurance model focuses on employee wellbeing and risk prevention, incentivising healthy daily behaviour to drive positive lifestyle outcomes. YuLife has quickly become a highly valued employee benefit, providing the safety net of insurance alongside a highly engaging wellbeing experience that fosters a healthier, happier and more motivated team. Founded in 2016, YuLife is headquartered in London and backed by global insurers and venture capital. https://www.YuLife.com/
Media Contact
Ben Crome
Headline Media
ben@headline.media
+44 7481 249328
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