The insurer said it would combine its insurance licence with technology to embed life insurance into the digital services already used by many consumers.
According to the FCA’s Pure Protection Market Study Interim Report, 58% of adults in the UK have no protection, while 72% say their protection needs are not being met.
Certua Life noted that people had limited protection to cover death or serious illness and will introduce its protections to apps and platforms such as banking, savings, wealth protection and employee benefits.
It said this would get people thinking about their financial situations while using a platform they already trust.
It said consumers would be able to apply for cover in minutes and renew annually, while for Certua Life’s partners, the integration will replace legacy platforms with a commercial model built on recurring revenue to replace the “cycle” of indemnified commission, clawback, and churn.
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Certua Life is onboarding launch partners across fintech, employee benefits, and wealth management.
Tom Williams, CEO and founder of Certua Life, said: “More than half of UK adults have no financial protection for the people who depend on them. Not because they don’t need it, but because the system was never designed to reach them.
“That’s not a problem legacy insurers can solve. Someone managing their money on their phone should be able to protect the people who depend on it in the same moment. We built an insurer to make that possible. It’s time for something new.”
