Blueberry Life has launched an expanded life insurance solution which aims to close the insurance gap for individuals with chronic health conditions.
The company aims to move beyond traditional life insurance by offering innovative tools to help customers improve their health, along with rewards for making healthier lifestyle choices.
The enhanced offerings cover a broader range of chronic health conditions, such as Type 1 Diabetes, pre-diabetes, high blood pressure, high BMI, and high cholesterol.
Blueberry Life CEO, Dr Karan Mehta, said: “We’re incredibly excited to launch this specialist Blueberry Life product that allows us to protect many more conditions and lives.
“The new Blueberry Life brand speaks to our mission of improving healthspan by delivering precision healthcare through insurance.
“Our unique winsurance model means everyone wins.
“Individuals improve their health whilst saving money, insurers become more profitable as loss ratio improves and society benefits as a whole as the population becomes healthier and more productive.”
Demand
Blueberry Life outlined the need for such cover by pointing out that nearly 50 per cent of the UK population lives with a chronic health condition, which, it suggested, poses “significant challenges” in obtaining life insurance.
Additionally, Blueberry Life pointed out that, according to census data, 45.7 per cent of men and 50.1 per cent of women in the UK report having a long-standing health problem.
It is also estimated that currently, only 30 per cent of the UK public has life insurance, reflecting the obstacles many can face when securing cover due to health conditions.
Under the Blueberry Life brand, the company will introduce a personalised underwriting and pricing model that provides fairer and more precise pricing that reflects the individual's true health.
Blueberry Life is also introducing an insurance lifestyle app.
tom.dunstan@ft.com
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