Leading UK financial services provider partners with YuLife to reward employees for healthy behaviour through YuLife's tech-based life and wellness insurance package
LONDON, July 28, 2021 /PRNewswire/ -- YuLife, the tech-driven insurance company on a mission to inspire life, today announced a new insurance partnership with Capital One UK. Through the partnership, all 1470 of Capital One's UK employees will now be covered by YuLife's pioneering group risk insurance policies, which also encompass a range of additional services designed to give employees ownership of their financial, physical and mental wellbeing and reward them for looking after themselves. Capital One's collaboration with YuLife came as a result of a comprehensive market review by Willis Towers Watson, the employee benefits consultants of Capital One.
Among the provisions offered by the partnership are 24/7 virtual GP access, full service Employee Assistance Programme, daily rewards through the YuLife app in the form of vouchers from the UK's leading brands, and the opportunity for associates to seamlessly review and manage their policy through the YuLife platform.
"The wellbeing of our associates is paramount and we want to provide a service that is accessible, easy to engage with and is ultimately a service they can get a lot of value from to enhance their wellbeing," said Jodie Teather, UK Benefits & Wellbeing Lead at Capital One UK. "We think YuLife's offer does that and we are proud to partner with them. Their services will mean our associates are protected through comprehensive life insurance and income protection policies and encouraged to make positive lifestyle changes such as taking part in daily step challenges and mindfulness breaks through the YuLife app. The benefit rewards healthy behaviour and provides tangible incentives for improved wellbeing, while also offering a fun and user-friendly employee experience. YuLife will help us offer the best possible working environment for our associates."
"We are delighted to partner with Capital One UK and are proud that this industry leader views us as a partner for implementing HR best practice," said Sammy Rubin, CEO of YuLife. "We believe that health and wellbeing should be made simple in order to be most effective, and our use of cutting-edge technology, apps and data science can help Capital One UK offer a unique employee experience and differentiate itself from rival companies in its space."
"As a result of our long-standing strategic relationship with Capital One UK, we worked extensively to understand the company's needs around employee benefits and their intersection with its wider business strategy," said Scott Bentley, Senior Director and Head of Risk Benefits, Willis Towers Watson. "Recommending YuLife as a strategic partner derived from our close involvement in forming Capital One UKs health and wellbeing strategy and their requirements from an insurance partner."
YuLife combines protection through insurance, prevention through wellbeing activities and engagement through rewards. Pioneering a new kind of insurance for businesses, YuLife actively reduces risk for the insurer through promoting and incentivizing healthy lifestyle change, which in turn enhances policyholders' overall wellbeing. Alongside an extensive range of support services, YuLife members also gain access to the YuLife app, through which users can earn bonuses and discounts from leading UK brands in return for completing everyday wellbeing activities, such as walking, cycling, meditation and mindfulness. Crucially for businesses, the YuLife app feeds anonymised indicators of employees' physical and mental wellbeing, such as average step counts or meditation minutes, back to the employer, allowing companies to make real-time updates to wellbeing programmes based on employees' true needs. These changes impact employees directly and also benefit businesses themselves, with 87% of UK employees saying that they are more likely to stay with an employer who looks after their wellbeing.
About YuLife
YuLife is a tech-driven insurance company on a mission to inspire life and turn financial products into a force for good. By harnessing the power of gamification and the latest behavioural science, YuLife insurance rewards healthy living and puts everyday wellness within reach of everyone. Founded in 2016, YuLife is headquartered in London and backed by serial investors and VCs including Target Global, Creandum, MMC Ventures, Notion Capital, LocalGlobe, Latitude, Eurazio and Anthemis Exponential Ventures.
https://www.YuLife.com/.
About Capital One
Capital One UK is part of Capital One Financial Corporation, a Fortune 500 company trading on the New York Stock Exchange and is included in the S&P 100 index. Headquartered in McLean, VA, Capital One is a diversified financial services company whose principal subsidiaries, Capital One, N.A., Capital One Bank (USA), N.A., and Capital One Auto Finance, Inc., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients.
Capital One's UK Registered Office: Trent House, Station Street, Nottingham, NG2 3HX
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