A South African insurtech backed by Warren Buffett is launching a specialist diabetes product in the UK. AllLife has teamed up with Royal London and Gen Re, part of Buffett's Berkshire Hathaway group, on a life insurance service for diabetics. It uses an algorithmic pricing platform to pull together a large amount of medical data, allowing the company to automate a lot of processes that life insurance firms do manually. The platform will also let AllLife adjust premiums based on user behaviour. Insurtech firm AllLife is launching a life insurance product for diabetics, partnering with Royal London and Gen Re, part of Buffett’s group. In addition to its own products, AllLife's new offering includes a range of products from other insurers including Aviva, which have been acquired by Berkshire.
A South African insurtech backed by Warren Buffett is launching a specialist diabetes product in the UK. AllLife has teamed up with Royal London and Gen Re, part of Buffett's Berkshire Hathaway group, on a life insurance service for diabetics. It uses an algorithmic pricing platform to pull together a large amount of medical data, allowing the company to automate a lot of processes that life insurance firms do manually. The platform will also let AllLife adjust premiums based on user behaviour. In addition to its own products, AllLife's new offering includes a range of products from other insurers including Aviva, which have been acquired by Berkshire.