A new startup, yulife, is transforming people’s views on life insurance, making more and more businesses aware of just how important this benefit is to offer.
yulife.com was co-founded by Sammy Rubin, and provides businesses with life insurance policies whilst also promoting employee health and wellbeing. To help encourage this wellbeing throughout the workplace, Rubin and his team have developed an app.
This app works by rewarding users with “yucoin” when they take care of themselves (e.g. practice mindfulness or exercise). “yucoin” is a digital currency within the app that can be exchanged for discounts on products from selected companies such as ASOS and Urban Massage. They can also be exchanged for vouchers on Amazon and similar sites.
CEO Sammy Rubin’s Wellbeing Journey
Rubin grew up in the UK, and has an experienced background in life insurance, having worked in the industry since the age of 21. When finishing university, Rubin begun his first business venture Policy Portfolio, stating that “It all started on the dining room table”, and that him and his father “slowly started adding some employees and in just under 5 years, it floated on the London Stock Exchange.”
Through this, Rubin became the UK’s youngest director ever for a publicly listed company in the financial services sector. Whilst business was booming during this time, as it grew to new heights Rubin found himself unfulfilled, and decided to take a sabbatical.
Rubin took 6 months off of work, and during this time focused on embracing the mind, body and spirit. The co-founder spent time in an Arizona wellness centre, as well as travelling in Israel before heading back to the UK, relaxed and recharged.
Upon returning home, Rubin then founded the life insurance company PruProtect, aiming to combine life cover with finance and wellbeing. This then evolved into VitalityLife, offering life insurance along with rewards for those who took care of their health.
The Beginning of yulife
After building up VitalityLife, Rubin then began another business venture – yulife. yulife was co-founded by Rubin, Josh Hart, Sam Fromson, Jacob Oosthuizen and Jonathan Roomer. The main goal was to create a life insurance business that valued customer care not only in death but also during life.
Today, yulife has customers from all different industries, their app offered with each yulife product. The app uses gameplay to encourage users to promote their health and wellbeing, with leader boards and rewards for healthy activities.
Last year, yulife raised £10 million in funding (Series A). Its headquarters are in Old Street, London, and hold more than 50 members of staff.