The product launch is an extension of the distribution partnership established by the two companies earlier this year.
Following the successful introduction of the Polly and Tom life insurance products in January, Clark UK, a subsidiary of Clark Group, and iptiQ, Swiss Re’s digital B2B2C insurer, have announced the launch of a new joint product in the UK market under the existing Winston brand.
The ‘over 50s’ life insurance product specifically caters to individuals aged between 50 and 80 who wish to leave their families with a lump sum payment upon their demise. This payment can be used to cover funeral expenses or serve as a gift to surviving dependents. Winston guarantees acceptance without the need for any medical examinations. Leveraging cutting-edge technology and personalised advice, the product aims to provide easy access to affordable life insurance, addressing the unique needs of customers in this segment.
While Clark UK focuses on marketing and distribution as part of this strategic partnership, iptiQ assumes responsibility for all core insurance tasks, including claims management and administration, through its comprehensive digital end-to-end platform.
Matt Edwards, CEO of Clark UK, expressed the company’s dedication to providing peace of mind to customers through intuitive and cost-effective insurance products. He spoke about the importance of leveraging their combined expertise in customer experience and digital insurance, highlighting the expanded partnership with iptiQ as a significant milestone in their mission to offer improved insurance coverage for UK families.
“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,” Edwards said.
Andreas Schertzinger, Regional Market Executive iptiQ EMEA, pointed out the significance of strong strategic partnerships for long-term success in the digital insurance sector, saying: “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.”
He added: “I believe this is really the foundation of our partnership, and the reason why it works so well for all sides.”
