American third-party administration services provider SE2 has purchased a majority stake in Life.io, an insurtech firm focused on customer engagement in the life insurance and annuity sectors.
To connect its existing and prospective customers, Life.io uses its interactive platform that rewards policyholders for taking steps to improve their wellbeing through educational content, wearables and self-reported data.
SE2 will use this platform as an add-on offering for its Aurum administration platform to provide an engaging and bespoke experience to policyholders.
Life.io CEO and co-founder Jon Cooper said: “SE2 and Life.io’s collaborative focus on delivering customer centricity and technology will be a true asset to carriers looking for efficient and effective solutions in a landscape where consumer expectations for fast, easy, and fun digital experiences continue to increase.”
SE2 CIO Vinod Kachroo said: “This expanded partnership will create comprehensive digital offerings new to the life and annuity insurance industry.
“Life.io’s unwavering commitment to transforming the policyholder experience is a perfect match for SE2’s Life & Annuity Digital platform and our vision for driving innovation for the insurance industry. We’re excited about this next chapter.”
Following the completion of the deal, Life.io will continue to be headed by its current management team.