Collaboration between Fjuul & SCOR enables new behavioural insurance offerings

by | Apr 6, 2022 | Blogposts | 0 comments

Fjuul‘s digital platform helps insurance companies increase their revenues with flexible premium models and new sales concepts. Regular interaction with positive touchpoints strengthen customer loyalty in the process. Through the preventive approach and the animation of health-conscious behaviour, positive influences for the benefit area are achieved in the long term. The engine of the offers is a data intelligence that, among other things, translates health and activity data into a scientifically based score that illustrates and quantifies the degree of personal movement. This can trigger new business models and create incentives to, for example incentives, e.g. to reward behavioural change or to incorporate dynamic risk assessment and pricing into products.

Collaboration with SCOR

As a start-up in the Growth category of Accelerator Batch#20, Fjuul has succeeded in launching a new offering in the field of behavioural insurance together with SCOR, thus laying the foundations for a long-term cooperation. The aim of the partnership is to market and further develop the Biological Age Model (BAM) developed by SCOR. The solution, based on the Fjuul platform, quantifies the impact of physical activity on mortality and morbidity. It thus allows for a turnkey implementation of activity-based products and an easy entry into dynamic pricing and continuous underwriting in life and disability insurance. and disability insurance. The Impact:

  • Mortality reduction 25% for Life
  • Morbidity reduction 15% for Health, Disability, Critical Illness

“The objective for InsurLab was to transfer our project successes with foreign insurance companies to the German market and thus lay the foundation for active market entry. InsurLab Germany was the catalyst for us to sound out the German market and specifically address product requirements, but also possible barriers. With our mentors and experts from the network, we tailored our offer to this and sharpened and validated our core competence of data-based products.”

Sascha Wischek, CEO & Founder of Fjuul

Winning the insureNXT Innovators Award 2022

Fjuul and SCOR winning the insureNXT Innovators Award 2022 together with KLV

Fjuul and SCOR winning the insureNXT Innovators Award 2022 together with KLV

Making more happen together: Together with Kärtner Landesversicherung, SCOR and Fjuul won the insureNXT Innovators Award 2022 in the Collaboration category. In the spirit of social and socio-political responsibility, the three partners have developed a life insurance policy that makes you a member of the Fitness & Charity Community founded especially for this purpose. There, the members collect points for healthy exercise together in a playful way. These points are converted into sponsorships for social projects – primarily for children and young people – and thus make a contribution to the health of the community.

The technological basis for the new life insurance is the Biological Age Model (BAM) developed by SCOR, which receives an interface to the end customer with the app from Fjuul.