Yapily partners with Certua

Open banking fintech startup Yapily is partnering with embedded finance platform Certua to make it easier for people to apply for life insurance in the UK.

Using Yapily’s platform and with user consent, Certua can retrieve individual bank account information such as annual income and expenses to assess a person’s financial position. After Certua analyzes the data, individuals can receive recommendations without having to engage with data gathering and advice processes when applying for life insurance coverage. The partnership will allow Certua to continuously monitor and assess every customers’ protection needs as different life stages present different life insurance needs.

The two companies are also exploring the use of open banking data in underwriting. One life insurance partner of Certua is RGA.

“There is a colossal market failure in the life insurance industry today. Certua are investing in and working hard to develop embedded solutions which improve the model for the entire value chain, most importantly the end customer. Yapily enables us to dramatically innovate in the life insurance space and we are excited to see the impact of this on businesses and consumers together, now and in the future.” – Luke Bewley, founding team and director of growth at Certua.

“Embedded insurance and open banking: two disruptive movements that, together, have the power to make financial services better, simpler, and more accessible for millions of people. It’s exciting to be working with Certua in this space and accelerating towards an open economy that works for everyone. I look forward to watching our partnership grow and enabling Certua to deliver the power of open banking to its customers.” – Stefano Vaccino, founder and CEO at Yapily.