Steven Bartlett Called Us Boring.

Flipping The Narrative:

To all the business insurance titans out there, if you’re feeling a little attacked by the ‘bland’ tag, it’s time to remind everyone of some disruptive companies currently making waves:

YuLife:

YuLife are a UK Insurtech powerhouse, that have somehow managed to make life insurance fun. They’ve succeeded in doing this by transforming the buying of policies into a gamified experience. Reward points, competitions, and leaderboards dominate their app and really encourage their users to get active for rewards.

I’m pleased to say that Fuelled have been a customer of Yulife for a couple of years and we couldn’t be happier. Our staff are regularly battling each other for the top of the activity leaderboard and what’s more, they are being rewarded with supermarket vouchers and other health & wellbeing incentives.

Not only that, but we’ve been able to help a number of our clients get on-boarded on to the platform, and the feedback from them has also been exceptional.

Flock:

Flock are another superb example of a UK insurtech that have built an exceptional product for an underserved market.

Flock use telematics (you might want to Google that word, Steven), to help fleet operators pinpoint and safety risks in their fleets, this software helps identify high risk drivers, potential claim exposures and addresses areas for improvement.

Not only that, but this data can also help drive business insurance premiums down if you can tick the boxes.

In their own words, they do things very differently, and it’s clear to see that they are an exciting example of innovation.

Betterview:

BetterView is an Insurtech startup that have developed a Property Intelligence platform that pulls varieties of third-party geospatial data – mainly through manned aerial imagery, but also by using several other forms of intelligence. The platform  leverages machine learning and computer vision over the imagery, combined with thousands of property data points, to produce risk insights which enhances visualisations for their insurers.

What’s so impressive about Betterview is it allows property insurance to be as close to ‘real-time’ for the first time ever. Which means that properties can be protected in the right way, with insurers getting an accurate reflection of risk every time.

Lemonade:

Lemonade are widely heralded as the ‘darlings of insurtech’ and for good reason. Lemonade were the first insurer to challenge the traditional model by giving back profits. Doing away with common profit share agreements in favour of supporting noble causes.

Whilst the road hasn’t necessarily been smooth, they have picked up significant traction in the US and have entered the UK market with a bang. As of 2023, Lemonade had over 1.5m policyholders worldwide and there are zero signs of slowing down.

Most recently, the US Insurtech announced the launch of Maya, an artificial intelligence bot that takes a customer through the entire insurance journey – answering any question imaginable in the process.