# YuLife Financial Model Gamified group life insurance and employee wellbeing platform sold B2B to employers in the UK. - Canonical: https://finamodel.com/startups/yulife - Excel download: https://finamodel.com/startup-models/yulife.xlsx - Category: InsurTech - Model type: SaaS ARR / Valuation - Funding round: Series B - Funding: $70M - Founded: 2021 - Geography: UK (primary); references to UK-specific stats, FT, and UK insurers as partners. - Customer: B2B2C ## About the company YuLife is a gamified group life-insurance and employee-wellbeing platform sold to UK employers. Its app uses activity, mindfulness, rewards, coaching, and benefits to engage members while providing life and related insurance cover. Employers pay group insurance premiums, with YuLife acting as an MGA or distributor alongside an implied platform fee. The app had 62% download, 56% monthly active, and 36% daily active rates among covered employees, supporting a differentiated engagement proposition. The model combines insurance commission with employer SaaS revenue. Employer groups, covered employees, premium, commission, platform fee, engagement, retention, and rewards cost determine revenue. Broker channels, cross-sell, and insurer economics drive margin. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## Product & value proposition Three-pillar model branded ENGAGE / PREVENT / PROTECT: - **ENGAGE** - YuLife app: step tracking, mindfulness, gamification (200+ levels, quests, streaks, leaderboards). Members earn YuCoin for daily healthy activity, redeemable for vouchers at Amazon, Nike, ASOS, Avios, Tesco, John Lewis, Decathlon, Calm, Fitbit, Garmin, etc.. - **PREVENT** - YuMatter EAP (mental health counselling, virtual GP, financial support, career coaching, will-writing, second medical opinion via Best Doctors, nutrition plans). - **PROTECT** - Group Life Insurance (Death in Service), Group Income Protection, Group Critical Illness; underwritten via AIG and RGA, backed by Bupa. B2B distribution: employer buys a group policy; employees download the app and receive insurance + wellbeing benefits. HR gets analytics dashboard with anonymised wellbeing, engagement, and billing data. ## Market - £3 trillion global life protection gap. - UK life insurance industry: >£100bn market, 200-year-old incumbents. - 66% of UK professionals are uninsured. - 60% of UK women with a dependent child have no life cover. - UK has the third-highest life insurance gap in Europe. - 80% of chronic disease could be eliminated by lifestyle choices. - Covid-19 tailwind: 56% of adults report wellbeing impact; 38% high anxiety; 55% decline in financial wellbeing. No SAM/SOM figures stated in deck. No explicit market-size numbers for the employee benefits / EAP sub-market. ## Revenue model Two interlinked revenue streams (not broken out numerically in deck): 1. **Insurance premium** - Employer pays group insurance premiums. YuLife acts as an MGA / distributor; risk is underwritten by AIG/RGA. Revenue is likely a commission or net premium retained margin. 2. **Platform / SaaS fee** - Implied by the HR dashboard, account management, and billing described as a separate employer-facing tool. No explicit SaaS fee disclosed. Reward currency (YuCoin) is funded by employer budgets or brand partnerships (Amazon, Nike, ASOS, Avios, etc.) - cost item for YuLife or passed through to partners. Pricing model: per-employee-per-month embedded in group insurance quote. No per-seat price or ARPU stated in deck. ## Traction & metrics All figures from slide 19 unless noted: | Metric | Value | | -- | -- | | App download rate | 62% of covered employees | | Avg Monthly Active Users | 56% of covered employees | | Avg Daily Active Users | 36% of covered employees | | 18-month retention | 47% | | Avg daily steps (YuLifers) | 6,134 (vs. UK avg 3,100) | | Meditation per week (avg) | 84 min | | Wellbeing survey: "live healthier" | 67% | | Wellbeing survey: "feel happier" | 87% | | Wellbeing survey: "feel more energised" | 87% | | Wellbeing survey: "feel more positive at work" | 85% | | Survey sample | 305 members | Clients visible on slide 24: Mintel, Vodafone, Havas, What3Words, Landbay, Signal, Fladgate, SSAFA, and ~10 others. Total customer count not stated. Trustpilot score: 4.8 (vs. Perkbox 4.4, LifeWorks 2.9, Canada Life UK 2.5, Unum UK 3.6, Zurich 3.1, Aviva UK 1.6). No revenue, ARR, GWP, or employee headcount disclosed in deck. ## Competition / moat Direct competitive comparison on Trustpilot only. Competitors implied: Perkbox (rewards/perks), LifeWorks (EAP), Canada Life, Unum, Aviva, Zurich (traditional life/group insurers). Moat claims: - Behavioural-science-driven engagement loop (YuCoin reward currency locks in daily app habit). - Dynamic underwriting: healthy behaviours feed back into risk pricing. - High Trustpilot score relative to incumbents. - Insurance-backed by established carriers (AIG, RGA, Bupa) - regulatory and balance-sheet credibility. - Partnerships with Fitbit, Garmin, Calm, Teladoc, Workplace Options, FIIT. ## Team & funding ask / use of funds **Founders:** - Sammy Rubin - CEO; ex-VitalityLife - Sam Fromson - COO; ex-Orbis - Josh Hart - CT&PO; ex-Chelsea Apps Factory - Jonathan Roomer - Head of CS; ex-KPMG - Jaco Oosthuizen - Chief Insurance Officer; ex-Multiply - Dr. Rangan Chatterjee - Chief Wellbeing Officer **Advisors:** Herschel Mayers (ex-CEO Discovery Life), Ricard Verdin (ex-MD RGAx, ex-CEO Aviva Life). **Funding:** £13m across Seed and Series A. Investors: Creandum, Notion, Anthemis, MMC, LocalGlobe. **Series A hires:** Lauren Berkemeyer (VP Marketing, ex-WSJ/LifeWorks), Keith Bale (Head of Sales, ex-Unum), Steve Harry (CFO, ex-Aviva/Unum). --- ## Recommended financial model **Archetype + why:** Insurance GWP / loss-ratio model combined with B2B SaaS ARR - because revenue has two components: (1) group insurance premium (GWP), from which YuLife earns a commission or MGA margin, and (2) an implied platform/account-management fee per employer. The engagement metrics (MAU, DAU, retention) directly drive underwriting risk reduction and renewal probability, so a combined model is needed. **Forecast horizon & granularity:** - 5-year annual model (Year 1–5), monthly detail for Year 1. - Unit: employer clients × avg employees per client × GWP per employee. **Key drivers & assumptions:** | Driver | Seed / Source | | -- | -- | | New employer clients added per year | Start ~30 in Y1, grow 60–80% YoY; no headcount or sales pipeline disclosed | | Avg employees per employer | ~150–300 (SME to mid-market mix based on client logos on slide 24) | | Annual GWP per employee (group life) | ~£100–£200/yr (UK group life typical range) | | YuLife commission / MGA margin on GWP | 15–25% (typical MGA range) | | Platform fee per employer per month | £0 or bundled; unclear - flag as open question | | App download rate (% of covered lives) | 62% | | Monthly active user rate | 56% of covered lives | | 18-month employer renewal rate | 80–90%; no churn data disclosed; proxy: 47% 18-month user retention | | Loss ratio (claims / GWP) | ~20–35% for group life (young workforce, wellbeing-driven); wellness discount benefit to risk carrier assumed passed through to YuLife in pricing | | Reward cost (YuCoin) per MAU per month | £2–£5; partially subsidised by brand partners | | Headcount scaling | 10–20% of revenue; Series A team structure visible but no headcount count | | CAC | £5k–£15k per employer (B2B broker/direct sales cycle); not in deck | | Gross margin on insurance | 60–70% of commission revenue after reward costs | **Scenarios (Base / Bull / Bear - which variables flex):** - **Base:** 60% YoY client growth; avg 200 employees/client; 20% MGA margin; 85% renewal. - **Bull:** 100% YoY client growth; 300 employees/client; 22% margin; 90% renewal; platform fee introduced in Y2. - **Bear:** 30% YoY client growth; 150 employees/client; 15% margin; 75% renewal; higher reward costs. **Required sheets / outputs:** 1. Assumptions - all drivers above with toggle for Base/Bull/Bear 2. Client Cohort Build - new clients per year × avg employees × GWP × commission 3. Revenue Bridge - GWP, commission, platform fee (if any), reward costs → gross profit 4. P&L (simplified) - gross profit, S&M, R&D, G&A, EBITDA 5. Headcount plan 6. Cash & Runway - tied to £13m raised; model burn to next round 7. KPI Dashboard - clients, covered lives, MAU, DAU, GWP, commission, gross margin % ## Frequently asked questions ### Is the YuLife financial model free? Yes. The YuLife model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.