Guardian Angel partners with Covéa Insurance to offer a solution to the challenge of acquiring Life Insurance prospects

10 February 2022

UK Tech start-up Guardian Angel that helps people plan for and manage death has partnered up with award-winning UK insurer, Covéa Insurance, to launch their new life insurance offering. 

Guardian Angel’s product has a new way of engaging and attracting customers.  Their Life Insurance product sits within the UK’s first holistic end of life planning tool, Bow. Bow is inspired by the success of credit score companies, such as Experian in its focus on educating and empowering new, curious audiences about the importance of planning ahead. It gives each user a personalised end of life preparedness score, based on their life situation along with tailored suggestions on how to improve that score (such as securing Life Insurance cover). 

Speaking about their life insurance product launch, Guardian Angel’s Founder and CEO, Sam Grice said: “My Mum died in 2016 so I know how important it is to get these plans in place. And I also know the barriers - the most challenging of which is knowing what you need and where to start. We’ve addressed that question head on with this launch, by educating and empowering customers about the importance of Life Insurance, allowing us to reach people in a much more engaging way. I wish my family had had access to something like this before Mum died, it would have made the world of difference. As a team we are proud to be offering a more accessible and affordable planning tool to more people.” 

Having received their score and suggested actions, the Guardian Angel online Life Insurance application has been designed to be accessible and straightforward. It can be completed in under 15 minutes, from home, without the need for any medical tests. It offers a more accessible range of cover from £5,000 to £500,000. 

But what makes this product unique is that when customers purchase Guardian Angel Life Insurance they get access to their entire suite of products for free, from an online will to expert legal support with Lasting Power of Attorney or a social media plan. This makes it the UK’s first business to end the fragmentation of the end of life planning space by providing a one-stop-shop solution. 

Guardian Angel launched their Life Insurance product in collaboration with insurance specialist Covéa. Sam Grice explained why Covéa was the go-to partner: “Covéa Insurance has a lot of experience working with intermediary partners and insurtechs, alongside a well-earned reputation for fantastic customer service. We knew they were a brand that would provide reassurance for our customers and that they have the scale and digital skills to support our delivery goals.” 

Covéa Insurance is known for its intermediary distribution model, topping industry broker service surveys for both Personal Lines and Commercial Lines, and winning 2021 General Insurer of the Year at the British Insurance Awards.  

Speaking about the partnership, James Gearey, Managing Director, Personal Lines & Protection at Covéa Insurance said: “Guardian Angel is tackling a sensitive but crucially important aspect of financial planning and making it easier and more accessible for people who may not be familiar with it.  We were impressed by their ‘BOW’ planning tool which sets out what people need to do in a practical, no-nonsense way. It has the potential to reach a younger demographic who may not previously have considered life insurance, but who can benefit from it.”

 

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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 2.2 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 around 2,000 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 won the General Insurer of the Year award at the British Insurance Awards 2021. It was 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 Best Insurer title at the British Claims Awards, High Net Worth Product of the Year Award at the Insurance Times Awards, the Staff Empowerment Award at the Diversity & Inclusion in Insurance Awards.

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