What:
Chubb is collaborating with Betterfly, the SoftBank-backed Chilean startup that offers companies a benefits platform to reward employees’ healthy habits.
Why:
Most people in Latin America do not have life insurance coverage. Betterfly is making it easier and more affordable for individuals and companies in Latin America to access financial, insurance, and lifestyle benefits.
How:
- The Betterfly platform rewards healthy habits with charitable donations and life insurance protection that grows at no cost based on lifestyle choices that foster physical, mental, and financial wellbeing.
- Integrated with apps like Google Fit, Apple Health, and Strava, the platform tracks members’ activities and rewards healthy habits, such as walking, exercising, sleeping, and meditation, with “Better Coins” that can be exchanged for charitable donations, lifestyle rewards, and increased life insurance coverage.
- As part of the partnership, Chubb will make Betterfly’s membership and benefits platform available to its retail clients, and Betterfly will offer Chubb products.
- The integration of Chubb’s digital insurance into the Betterfly ecosystem uses the capabilities of Chubb Studio, Chubb’s global digital product distribution platform.
- The companies will focus on offerings in Mexico, Colombia, Ecuador, Chile and Argentina with the goal of reaching 100 million people by 2025.