Money app Yolt rolls out life insurance product

Yolt connects to its users’ bank accounts, giving them a consolidated overview of their finances. The app then spins insights off the back of the data stored in those accounts, and makes recommendations to a range of partner companies, mostly fintechs. Anorak is Yolt’s third partner, joining energy comparison platform Runpath and international money exchange firm Moneytis.

Anorak’s advice will be based on Yolt’s financial insights and will show users how much life cover they need, how long they’ll need it for, and why. Using this information, Anorak will recommend life insurance policies from major insurers, tailored to fit each user’s circumstances. Yolt has gained rapid traction in the UK market, leveraging the reach of its parent company, Netherlands-based banking group ING. The firm hit 250,000 users in April 2018, less than a year after launching.