Dai-ichi and YuLife announce pilot program
Dai-Ichi Life Holdings and group life insurance startup YuLife are announcing a pilot program.
As part of the pilot, Dai-ichi Life will provide test users with the YuLife app, which equips employees with an engagement program that incentivizes wellbeing initiatives and rewards “healthy living.”
Last year, YuLife raised $120 million in a funding round led by Dai-ichi Life, which gave the startup a valuation of $800 million.
Founded in 2016, YuLife says that its app is used by approximately 1,000 companies and over 650,000 employees in the UK.
For the year ended June 30 2022, YuLife generated £38.6 million in gross written premiums. The startup served 574 businesses and offered coverage to 518k employees. Revenue for the period stood at £2.9 million and the startup recorded a loss of ~£16 million.