The startup offers a platform that combines life and medical insurance with a rewards system for health-related activities, such as walking and meditation. By incentivizing users with air miles, vouchers, and gift cards, the platform promotes employee well-being while providing businesses with comprehensive insurance solutions.
Funding
$200.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
GEHVCFounders
Product
Problem
Traditional group insurance plans often fail to engage employees, leading to low utilization of benefits and limited impact on overall well-being. Employees may not fully understand or appreciate the value of their insurance coverage, resulting in a missed opportunity to improve their health and financial security.
Solution
YuLife offers a group insurance platform that combines life and medical insurance with a rewards system to incentivize healthy activities and increase employee engagement. The platform uses gamification and personalized rewards, such as air miles, vouchers, and gift cards, to motivate employees to participate in activities like walking, cycling, and mindfulness exercises. By integrating insurance with a comprehensive well-being program, YuLife aims to create a win-win scenario where employees are healthier, more productive, and better protected, while businesses benefit from improved employee retention and a more engaged workforce. The platform also provides access to mental health support, virtual GP services, and tools for social impact, creating a holistic approach to employee well-being.
Target Audience
YuLife targets businesses of all sizes looking to enhance their employee benefits package, improve employee well-being, and increase engagement with their insurance offerings.
Features
- Group life insurance providing financial support to employees' beneficiaries in the event of their death, with coverage options based on a multiple of salary or a fixed lump sum.
- Group health and dental insurance options provided by Bupa, covering the cost of healthcare and oral treatment.
- Group income protection, covering a proportion of an employee's income if they cannot work due to illness or injury.
- Mobile app that rewards users for completing health-related activities, fostering healthy habits and increasing engagement.
- Gamified challenges and friendly competitions to motivate employees and create a culture-boosting experience.
- Access to mental health support through an Employee Assistance Programme (EAP) and virtual GP services for convenient healthcare access.
- Social impact rewards, allowing users to donate meals, plant trees, and clean oceans, aligning with ESG goals.
- HR insights and reporting tools to track employee engagement and the impact of the well-being program.