Swiss Re unit strikes UK life insurance distribution deal with insurtech

Swiss Re’s iptiQ, a digital platform and white-label insurance provider, has entered into a distribution partnership for UK life insurance products with insurtech Candid.

The partnership will see Candid, a UK-based insurtech and part of the Clark Group of companies, and Swiss Re's iptiQ join forces to offer “affordable and accessible” life insurance solutions to UK customers. The newly launched digital-first offering will be distributed through Candid's Polly and Tom brands.

The strategic partnership harnesses Candid's capabilitues in distributing life insurance products to UK customers and iptiQ’s cutting-edge digital B2B2C insurance platform, combined with its underwriting expertise.

Candid's Polly and Tom brands offer targeted and affordable life insurance solutions to mothers and fathers, respectively. The newly launched offering with iptiQ is seamlessly integrated into Candid's existing distribution platform.

Matt Edwards, CEO of Candid, said: "Our mission at Candid is to disrupt the UK life insurance market, focusing on the customer, providing good solid advice, affordable pricing and simple to understand products. We are therefore delighted to have found a partner in iptiQ who shares this vision with us."

Andreas Schertzinger, regional market executive iptiQ EMEA, said: "This new partnership with Candid is a prime example of iptiQ's focused B2B2C approach, as we work closely with innovative businesses that share our vision to make insurance easier and therefore more accessible for a broader range of customers. We are grateful for Candid's trust in iptiQ's digital capabilities and look forward to jointly expanding our UK ecosystem."

Edwards added: "Having seen what iptiQ can offer as both an insurance and technology partner, the decision to collaborate with iptiQ was an easy one. I am very proud and extremely excited to be launching our very own Polly and Tom life insurance and serious illness products, and I genuinely believe this to be the first step in a cycle of disruptive pivot towards a customer-first mindset in the life insurance market."

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