Insuranceciooutlook

Life.io: Helping Insurers Transform the Customer Experience

CIO VendorJon Cooper, Co-Founder & CEO
The importance of the relationship between insurance carriers and premium-paying policyholders has caused a major shift in the insurance industry from contemplation to action on consumer engagement. Life.io, an insurtech startup provides consumer engagement strategies designed to better understand policyholders in order to intelligently recommend products that are tailored to their needs. "We bring technology and behavioral science together to help carriers engage policyholders and have a direct line of access into the evolving lives of customers," states Jon Cooper, Co-Founder and CEO of Life.io. Keeping the consumer in mind, the company has invested significantly in consumer experience, understanding engagement patterns, and enhancing those engagement patterns to design consumer-facing software that is extremely consumer friendly.

Life.io incorporates behavioral economics and social gaming concepts such as, social norming and incentives, in their solutions to drive registration and retention along with the behavioral momentum that motivates long-term user engagement. The company's Life.io. ENGAGE, a white label technology solution, enables the carrier to offer a personalized policyholder-centric platform to its customers. ENGAGE drives policyholders to set and achieve their goals in physical, mental, and financial health. In addition to building loyalty, ENGAGE helps gather actionable insights to understand and meet the needs of the policyholders comprehensively. Another solution, Life.io CONNECT, identifies new leads through references from policyholders facilitating the industry's growth. Furthermore, Life.io ADVISE aggregates all the data and insights gathered from ENGAGE and CONNECT and leverages them to make personalized and consumer-relevant product recommendations.

The Life.io platform integrates with wearables and health apps, such as Fitbit and Google Fit, offering an opportunity for policyholders to be rewarded by their insurance companies for their healthy activities.


We bring technology and science together to help carriers engage policyholders and get a window into the evolving lives of the customers


The company is also expanding its capabilities to incorporate more wearables and third-party apps to build a vivid 3-D view of the policyholder to serve them better. “Beyond predicting health risks, we can start to extrapolate insights about the broader population based on data gathered from the population using wearables,” says Cooper.

Citing a success story, Cooper mentions how Life.io was employed by one of the top five multinational carriers when the practice of consumer engagement was new to the industry. The client had a small group of users and required improvement in net promoter score or brand affinity. Deploying Life.io solutions, the client was able to gather data and insights that helped them understand market risks, and also incorporate their ideas, annual renewals, and underwriting. There was a significant improvement in the user base of the carrier's perceived promoter score or brand affinity. Due to positive results from the program, the carrier expanded their reach within a year, from five to eight countries.

Life.io solutions are designed to augment or supplement the work of agents and brokers as well. One of its planned initiatives for 2018 is a broker channel which shall not only operate directly within the carriers but also offer solutions to brokers and agents to help them build a stronger relationship with their customers. CONNECT and ADVISE, the two new modules of the company, are also set for further growth in the coming times.

Life.io’s unique capability to recommend the right product at the right time to the right person has garnered interest globally, irrespective of language barriers. The company has achieved significant growth of customer base in 2017 and is enthusiastically focusing on continued growth and expansion in 2018. “It’s exciting to see the insurance market maturing quickly, and Life.io shall progress and keep pace with this development,” concludes Cooper.