Eleos Life, a UK-based digital provider of embedded life and disability insurance, has announced its expansion into the U.S. market through strategic partnerships with Assurity, a mutual insurance corporation, and SCOR, a global reinsurer.
The partnership aims to address the critical underinsurance problem in the U.S. by embedding term life and disability insurance products into digital platforms used by consumers every day, according to FF News.
This initiative will target the tens of millions of Americans who currently lack adequate individual insurance cover.
Eleos Life, licensed in 41 U.S. states and the District of Columbia, brings a fully digital embedded insurance model to the market. It enables banks, credit unions and FinTech platforms to offer essential insurance through simple APIs and white-labelled journeys. Assurity contributes its longstanding insurance expertise, while SCOR brings its global reinsurance capabilities and industry insight.
Currently, fewer than 30% of Americans have individual term life insurance, and only 18% have individual disability cover. These low adoption rates are due largely to limited accessibility and awareness. Eleos tackles both by offering a frictionless digital onboarding experience, embedding insurance directly into platforms consumers already use. Partners can launch Eleos’s products in under a week, with some integrations possible in just one day. All regulatory compliance is managed by Eleos, easing the burden for partners.
In addition to the core coverage, Eleos policies include complimentary benefits that enhance physical and mental wellbeing, such as remote primary care services and structured mental health counselling sessions.
Eleos Life CEO Kiruba Shankar Eswaran said, “With the low uptake of life and disability insurance, we’ve created a straightforward way for companies to distribute these essential protections. In the U.S. alone, it’s estimated that 65 million households could benefit from affordable life insurance, with millions of families vulnerable due to insufficient savings. We’re enthusiastic about leveraging everyday consumer platforms to close this protection gap.”
SCOR vice president partnerships Brian Barnes said, “We are excited to partner with Eleos Life as they launch their innovative term life insurance products in the U.S. Eleos has demonstrated success in the U.K. by providing accessible and essential financial protection through their digital platforms. Their innovative approach to embedding insurance seamlessly into consumer journeys aligns with SCOR’s mission to advance forward-thinking solutions in the insurance industry. We are optimistic that this partnership will help bridge the protection gap and we look forward to supporting Eleos in this expansion.”
Partners benefit from recurring revenue, no setup costs, and full tech and marketing support. For customers, it means peace of mind and instant protection, accessible digitally with added value through free perks.
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