Certua Life Limited is officially launched, becoming the first new protection-focused life insurance company to be authorized in the UK in almost two decades.
Certua Life combines an insurance license with technology designed to embed life insurance into digital services already used by millions of people.
More than half of UK adults have no financial safety net if they die or become seriously ill – not because they don’t need insurance, but because traditional life insurance has never covered them.
The Financial Conduct Authority’s Pure Protection Market Study interim report found that 58% of UK adults hold no protection products at all, 72% of protection needs remain unmet and more than 80% of sales still go through intermediaries that most people have never used.
Certua Life’s products are embedded in the applications and platforms customers already use, from banking and savings to employee benefits and wealth management. Life insurance is provided where customers are already managing their finances on a platform they already trust, without the need to move to a third party. Coverage can be applied for in minutes, renewed annually, and adjusted as the client’s life changes.
For partners, a single integration replaces the complexity of traditional insurance systems, while a business model built on recurring revenue replaces the cycle of paid commissions, clawbacks and churn.
Certua Life is recruiting partners in the fintech, employee benefits and wealth management sectors.
Tom Williams, CEO and founder of Certua Life, said: “More than half of UK adults don’t have financial protection for the people who rely on them. Not because they don’t need it, but because the system was never designed to help them. It’s not a problem that traditional insurance companies can solve. People who manage their money on their phone should be able to protect the people who rely on it at the same time. We built an insurance company to deliver this. Now it’s time for something new.”
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