(Image source: Life.io home page.)
SE2 (Topeka, Kan.), a provider of technology-driven third-party administration (TPA) services, has announced an increased investment in Life.io, a customer engagement technology platform focused on the life insurance and annuity industry. With the new investment, SE2 now has a majority stake in Life.io, which will continue to be operated under its existing management team. SE2 did not disclose the terms of the transaction.
Headquartered in Princeton, N.J., Life.io offers an interactive platform that engages existing and prospective customers, rewarding policyholders for taking steps to improve their physical, mental, and financial wellbeing through educational content, wearables and life event data. SE2 reports that it’s new investment in the company will be used to support continued scalability and growth for Life.io as it launches the latest version of its white-labeled platform later this year.
SE2 and Life.io are both driving digital transformation in the industry and have been enabling some of the largest life and annuity insurance carriers in their development and launch of new and unique products and consumer loyalty programs into the market.
SE2 positions itself as a new breed of TPA focused on the digital transformation of the life insurance industry. The company reports that it is supporting some of the largest life and annuity carriers in development and launch of new types of products and consumer loyalty programs. By combining the digital capabilities of Life.io combined with its Aurum platform and comprehensive operation services, SE2 says it will enable delivery of an engaging, frictionless, and personalized experience to policyholders. Through its collaboration with Life.io, SE2 reports that it intends to further accelerate how insurance carriers personalize and gamify products for increased engagement
“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,” comments Jon Cooper, CEO and Co-Founder of Life.io.
Established Relationships with Prominent Global Carriers
Founded in 2012, Life.io uses behavioral economics, social psychology, and personalized content to nurture a community of highly engaged consumers. Life.io has established partnerships with leading insurance companies across eight countries, including two of the top five largest international carriers.
“This expanded partnership will create comprehensive digital offerings new to the life and annuity insurance industry,” comments Vinod Kachroo, CIO, SE2. “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.”