UK
Philip Morris International (PMI) has launched a life insurance firm, Reviti, which aims to provide more affordable policies as people improve their lifestyle, starting with quitting smoking.
Based in the UK. Reviti insurance premiums start at US $6.45 a month. The company offers up to 50% discount on premiums to incentivize customers to quit smoking.
Heading Reviti is Daniel Pender, a 25-year veteran of the insurance industry and a former UK board director at Zurich and Prudential.
Pender said, “It was time the insurance business caught up with its customers. The life insurance product we offer is a win-win for Reviti and our customers. They get competitive premiums and, with a little help from us, a better lifestyle. We get to help millions of people who have never had access to life insurance before and who will benefit from positive lifestyle changes we’re helping them make.”
Reviti also has plans to roll out a range of insurance policies that reward better lifestyle choices, such as improving your diet, cutting down on alcohol, or getting fit. Customers will also be offered the chance to work through a program via a life app, which provides them with 120 activities and programs designed to support lifestyle changes.