Meet the insurtech startup which wants to revolutionise SA’s insurance industry

I think we succeeded because YuLife is a great idea which addresses a global problem.

The capital has been incredibly useful in our expansion to South Africa because it means that we have the ability to hire a team and really continue to build a robust product.

JH Perhaps just to add to that, the validity of the idea is also shown by the confidence that investors have in us.

For example, we partnered with Checkers and MTN to provide vouchers and this means that we cater to all levels of employees.

According to the Financial Sector Conduct Authority (FSCA)s 2022 Financial Sector Outlook study, about 60 of South Africans alluded to having an insurance product, and penetration of insurance, measured using premiums as a percentage of GDP, was 13.7 in 2020 one of the highest in the world.

With such an extensive and vibrant market, it will be interesting to observe how the arrival of a player like YuLife, whose product does diverge a bit from whats available in the market, will impact the industry. Share this article

I think one of the big issues with insurance is that it is not a product that people want to buy.

You dont wake up in the morning and say, I would love to buy insurance and I think that is one of the things that we want to change with YuLife because you really want people to love their insurance company.