Life5, a startup focused on B2C digital distribution, expects to use Velogica to process around 1000 insurance cases per year. Deployed on its term life insurance product, Velogica’s incorporation will automate underwriting in 85% of cases, without medical evidence, providing total coverage of up to €450,000.
Founded in 2021, Life5 wants to democratise life insurance in Europe. With this first deployment on the French Market, Life5 has ambitions to widen its European coverage with planned expansions to Portugal and Germany.
Life5 joins more than 30 other InsurTechs and Insurers within the country who are already using the Velogica solution.
Life5, a pioneering insurtech start-up, was born with the ambition of dusting off the insurance sector in Europe. Founded by Guillermo Alén and Yago Montenegro, Life5 entered the Spanish market in early 2021 as the first provider allowing you to take out life insurance without prior medical examinations, covering up to 7000 diseases with its dynamic subscription technology.
In 2023, Life5 has grown in Europe with the opening of the French market and plans to enter other countries by the end of the year. The company aims to disrupt the life insurance market by offering a modern, flexible and competitive product that is simple, fast and 100% online.