Covéa Life launches with exciting new life insurtech Bequest

30 June 2021

Covéa Life is delighted to announce a new exciting Life partnership with Insurtech start-up Bequest.

Bequest is a Life and End-of-Life estate management provider for the digital generation. The start-up has reimagined life insurance, using a digital platform to bring together a person’s life administration, family planning, wealth management and end-of-life requests, all under one ‘roof’.

This bespoke life product has been launched with families in mind, it covers them for just what they need, no matter the size or shape of their family and no matter how much that changes over time. The proposition plugs many of the gaps that have not been addressed by traditional insurers and Covéa are thrilled to support yet another digital solution which will drive better outcomes for customers.

The product starts with simplifying and dramatically speeding up the process to get life insurance, removing the typical lengthy application process and reducing it to only minutes. Policy terms have been updated and discriminatory clauses removed and the product has removed probably the most obvious barrier - the medical appointment. In addition, the product allows people to update their policy as their life develops, their family grows and changes occur and also have full control over their digital estate should the worst happen.

Matthew Jones – Senior Manager Life Proposition at Covéa Insurance said: “Our strategic partnership with Bequest has delivered a ground-breaking digital platform with an all-encompassing product, covering people through the different points in life’s journey. It is an exciting collaboration reflecting the end to end digital integration of a product and allowing true flexibility for customers with choice at the centre of the process.

Tracey Smith, Head of Insurtech at Covéa Insurance added “We are so excited to be part of this offering - Bequest are a standout insurtech so it’s great to be partnering with them to deliver innovative life insurance with customer needs at the heart of it. We are seeing some really interesting opportunities in the life space and feel that Covéa can play a key role in driving the disruption.”

James Buckley-Thorp, CEO at Bequest said “It’s great to partner with an organisation like Covéa who are totally supportive of our progressive approach to life insurance.  We are phenomenally excited about a proposition that reflects the needs of the current market – recognising that from a customer perspective, it’s your wishes that count, you own the policy and you have full control over the outcomes, if anything happens to you.”

 

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About Covéa Insurance

Covea Insurance Plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France, generating over 16.6 billion Euros in premiums in 2020.   

Covéa Insurance looks after the insurance needs of over 2 million policyholders; delivering financial reassurance through its Standard & Poor’s ‘AA- stable’ rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, pet, mid and high net worth insurance and a range of commercial insurance products, through a range of distribution channels.

Employing over 1900 people, Covéa Insurance has a strong people and service ethos.  It holds ServiceMark accreditation with Distinction for its Personal Lines operation and its Commercial & HNW Claims teams, as well as Chartered Insurer status for its Commercial business.  Covéa Insurance is signatory to the HM Treasury Women in Finance Charter and the insurance Inclusivity Pledge and has been named one of the top 75 employers in West Yorkshire & the Humber.

Recently, Covéa Insurance has been named as the Best Place to Work in Digital (Large Organisations) at the Digital Technology Leaders Awards and as the Best Employer at the Yorkshire Financial Awards.  They were also recipients of the High Net Worth Product of the Year Award at the Insurance Times Awards, the Staff Empowerment Award at the Diversity & Inclusion in Insurance Awards, and the Diversity Award at the British Insurance Awards.

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