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YuLife presents

Every insurer on Earth
runs on one equation.

Most of them are losing to it.

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The three numbers

Every insurer lives or dies
by three numbers.

Premium
Revenue · every pound in
Loss ratio
Claims · pounds straight back out
Expense ratio
The machinery in between

Success is a function of all three.

For years, YuLife has helped carriers drive down the loss ratio.
Now AI opens up the expense ratio.

Group risk today

Enterprise schemes

Premium100%
Loss ratio−85%
Expense ratio−12%
Profit3%
All of the premium. Almost none of the margin. On a £50m book, £42.5m goes straight back out in claims. £1.5m survives.

SME schemes

Premium100%
Loss ratio−60%
Expense ratio−30%
Profit10%
The best risk in the market. Eaten alive by the cost to serve. A 50-life scheme costs nearly as much to run as a 5,000-life one.

So the entire industry queues up to fight over the worst business...
...while 9 in 10 SMEs have no cover at all.

Look closer at that 30%

The expense ratio is not
one number. It's a machine.

12%
Commission & fees
8%
Admin & ops
6%
Sales & underwriting
4%
Claims & service

A 50-life scheme needs everything a 5,000-life one needs.
Same machinery. A fraction of the premium.
The margin never stood a chance.

Incumbents cannot fix this.
Legacy systems, decades deep. Costs that are someone's salary.
And going cheap would cannibalise their own book.
So we're not fixing
the old machine.
We're building a new one.
AI-native. From zero.
Rebuild every line of the equation
Admin & ops
8%Halved
Sales & underwriting
6%Halved
Claims & service
4%Cut 25%
Commission & fees
12%Untouched
Expense ratio
30%

Brokers keep every penny. Everything else runs at enterprise economics - on a 50-life scheme.

How · the operating model

An AI-native group risk insurer.
Built from zero.

Not a chatbot wrapper. The manual cost of running a scheme, engineered out stage by stage:

Quote
Straight-through from rate tables. No rekeying.
→
Underwrite
Auto-triage. Humans on edge cases only.
→
On risk
HRIS integration feeds membership directly.
→
Admin
Mid-term changes, billing & renewals run themselves.
→
Accounting
Reconciled against live membership. Breaks flagged same day.
→
Claims
Clean data in. People make decisions, not push paper.
One data backbone · one AI agent layer · every stage reads and writes it

The proof it's achievable: our target cost lines - admin 4%, sales & UW 3%, claims 3% -
are what incumbents already run at enterprise scale. They use scale. We use AI.
Nothing here needs a breakthrough.

And this isn't just cost cutting

Cost is half the story.
Revenue is the other half.

+2%
The wallet
individual insurance products, sold in-app
to people we already engage every day

The app people already open for their GP, their EAP and their cover
is the natural place to buy the individual cover they actually need.

And the +2% is just the start.
A whole new revenue stream on top of group risk. As we learn which products sell,
we manufacture them ourselves - and push it further.

The new P&L

AI-native SME · the same £50m book

grey = SME today
Premium100%
Wallet revenue+2%
Loss ratio60%−59%
Expense ratio30%−22%
Profit10%10%
£5m
SME today
£1.5m
Enterprise today
£5.0m
AI-native · same £50m book · incl. wallet

Margin doubled. 7× the enterprise book.

Cheaper for the employer · easier for the broker · healthier for the employee · more profitable for us

But wait Everything so far is only 1 + 1 = 2.
Strong. Winnable. Copyable.
The industry's dirty secret Every insurer runs as silos that never speak.
Sales never learns from claims.
The group never knows the individual.
One substrate changes everything One AI substrate. The walls vanish.
Every quote. Every claim. Every daily step.
Group and individual. One living picture of risk.
No insurer has ever had this The Risk
Graph
What it unlocks Prevention that arrives before the claim.
Underwriting that learns from claims.
Pricing that sharpens with every win.
The flywheel More schemes → better data → sharper prices → more wins.
Every life deepens it.
You can't bolt this on. You're born with it.
That's when 1 + 1 = YuLife
Coming to a stagnant market near you

The AI-Native
Insurer

Group risk, rebuilt from zero. Wellbeing-forward. Broker-friendly. Structurally unmatchable.

1 + 1 = YuLife
YuLife · 2026