It has been a great year for YuLife. After recording tenfold growth in gross written premiums, and a $70m series B funding round, YuLife has capped off the last 12 months with the insurtech innovation of the year award.

The UK life insurer says it is using the latest technology to create a fundamental shift in "the very nature of insurance" by incentivising policyholders to make proactive lifestyle changes through behavioural science, artificial intelligence and game mechanics.

The company says it's the gamification focus that is spurring engagement, and claims nearly 40% of members use its app every day.

Sammy Rubin, founder and CEO at YuLife, says the firm aims to redefine the traditional and sometimes, agnostic relationship between insurers and policyholders.

"We seek a win-win partnership model by helping people live longer healthier happier lives, this creates engagement and true alignment and that's one of our big differentiators.

"(Traditionally) there's a lot of focus on the claim experiences and we look to create a lifelong journey with our members."

He explains the insurtech space has seen a huge increase in focus after originally being seen as the "neglected child".

"When we first launched six years ago, fintech was big and the banks and payment solutions were getting the big funding.

"It's just the beginning and we have early disruptors, but the more funding going into the (insurtech) market and the more attention it gets, we're going to see more creativity in so many different domains of insurance."

He says the Covid-19 pandemic has also prompted a significantly increased focus from business leaders on the importance of wellbeing in the workplace.

"Looking after the wellbeing of one's employees is now high up the agenda, it used to be (the responsibility of) the chief people officer but now it's the chief executive officer.

"Obviously, that fuels new types of products and offerings around wellbeing, and that's the space where we can really contribute."