Breaking down the barriers to financial inclusion
I’ve spoken before about financial inclusion – which is at the heart of OneFamily’s vision of Inspiring Better Futures.
We’re a socially responsible company, so we’re here to serve the underserved - the people who aren’t always seen as being profitable by other organisations.
Previously, I’ve focused on investments and how we can open up the benefits of the stock market to smaller investors. But there’s a more basic issue that needs to be addressed.
Shockingly, nearly 7 in 10 people have no life insurance. Perhaps this is because they simply cannot afford the premiums or maybe they see life insurance as too difficult to think about. But as we enter a period of growing uncertainty for families over the coming year, protecting against life’s big challenges becomes even more important – especially for the financially vulnerable.
Everyone should have access to affordable life cover, it’s a basic financial need for anyone encountering a major life event such as the birth of their first child or getting a foot on the housing ladder.
We wanted to put this right – to find a way to champion the insurance needs of the underserved.
"Everyone should have access to affordable life cover, it’s a basic financial need for anyone encountering a major life event"
So, OneFamily has acquired Beagle Street – a company that specialises in low cost, simple to purchase life and critical illness insurance. It’s an exciting meeting of minds, Beagle Street’s ethos is completely in tune with who we are as an organisation – with their customers right at the heart of everything they do.
As a provider of over-50s insurance, OneFamily has previously occupied the same space as Beagle Street but there’s been no overlap with the younger demographic of their customer base. So now, both brands are being brought under one roof – allowing us to expand and build upon the service we provide.
OneFamily’s determination to reach those who most need our support will see both businesses finding innovative ways to help even more families, and give them access to the peace of mind that they deserve.
It’s another exciting step forward as we break down the barriers to financial inclusion that face so many.
Teddy is a strong supporter of diversity, inclusion and equality. A passionate believer in social mobility and financial inclusion; he is using his position as CEO of OneFamily to help the young, the disadvantaged and the marginalised to reach beyond their expectations. His view is that everyone in society should have the same opportunities to access financial products – regardless of their wealth.
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