Swiss Re-backed digital insurer iptiQ and insurtech Clark UK, formerly known as Candid, have expanded their partnership with the launch of a new ‘over 50s’ offering in the UK.
The new life insurance product is aimed at people aged between 50 and 80 years and will be launched under the existing Winston brand.
The offering will allow customers to leave relatives with a lump sum that can be used to pay for a funeral or as a present for the remaining dependents in the event of their death, iptiQ explained.
Winston provides guaranteed approval without requiring any medical tests, it added.
In this strategic alliance, iptiQ handles all essential insurance activities, including claims processing and administration, while Clark UK stays focused on marketing and distribution.
iptiQ EMEA regional market executive Andreas Schertzinger said: “Strong strategic partnerships are key to long-term success in the digital insurance space. Clark UK and iptiQ share the same vision and values – make insurance more accessible and affordable for a broader range of customers.
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“I believe this is really the foundation of our partnership, and the reason why it works so well for all sides.”
Clark UK CEO Matt Edwards said: “We remain firmly committed to creating peace of mind for our customers through intuitive and affordable insurance products.
“By leveraging our combined knowledge and expertise in customer experience and digital insurance, this expanded partnership with iptiQ is another important milestone on our journey to helping UK families get better insurance coverage for their loved ones.”
The launch of ‘over 50s’ life insurance builds on the partnership between iptiQ and Clark UK announced in January this year.