UK-based insurtech firm YuLife has launched its operations in South Africa, bringing its wellbeing app and behavioural science-informed rewards scheme to the market. The app rewards employees who complete daily wellbeing activities such as cycling or meditation with YuCoin, which they can exchange for vouchers with leading brands, or use to donate to good causes. The firm aims to incentivise healthy lifestyles and improve employee retention rates, while bridging the gap for consumers who need life insurance but do not fully understand it. The company, which has worked with Tesco and Co Op, raised $120m in funding last year.

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