Ribbon Life is disrupting and innovating a 150+ year old sector with intelligent automation supplemented with AI and Machine Learning. Competitors include Canada Life International and Zurich International Life amongst others, all based on the globally preferred jurisdiction of the Isle of Man where 93% of the world's International Life companies are based.
By leveraging first mover advantage, assisted by the clunky and old legacy systems in place with our competitors, they are handicapped from easily pivoting to new tech and so rely on over 250+ headcounts per company, to provide their services.
Ribbon Life will have 10-12 staff due to the key business partnerships in place, and the use of intelligent automation and AI and ML. This allows us to provide a lower cost, simpler, and immediate service to the policyholder (customer) whilst increasing investor returns to Ribbon Life itself through better income and reduced costs.
Startup Description
Ribbon Life is part of the Red Ribbon Asset Management group of companies, itself celebrating 17 years in business in 2024. The Group includes Ribbon, an EMI licensed digital bank based in Gibraltar, Red Ribbon Fund Management a fund manager also based in Gibraltar, Advsr (Ribbon Wealth) a wealth advisor focused on the UK, EcoHotels an environmentally friendly and sustainable hotel chain, CrowdInvest a crowdfunding platform and Modulex a modular construction business currently concluding a SPAC transaction on the NASDAQ.
Using major disruptive systems and mildly disruptive product design we are primed to become the go to provider for both human IFAs and policyholders directly. This benefits the consumer, the IFA/Broker as well as Ribbon Life itself.
Transforming the Life Assurance industry by providing:
* Comprehensive InsurTech platform that significantly increases returns to all stakeholders.
* Bespoke platform using the latest AI and data analytics to offer enhanced customer features and experience, whilst ensuring robust anti-fraud security.
* Targeting the mass affluent and high net worth Non-Resident Indians (NRIs) and ex-pats in South Asia, the Middle East, Latin America, and Africa.
* Ribbon Life will be progressively applying for regulatory licenses, including a full Class 1 Life Assurance license in the Isle of Man.
* Driven by an experienced senior management team with proven track records in the Life Assurance industry and delivering services
Africa (excluding North Africa), East Asia, Europe, India, Latin America, Middle East & North Africa, South Asia, Southeast Asia
Business
Modal Type
Mobile App
Type of
Sales
B2B2C, B2C
Competitors
* Canada Life International
* Zurich International Life
* Utmost
* Scottish Provident International
* RL360
* Hansard
* Quilter International
Teams
John Sheath
Chairman & CEO
Suchit Punnose
Executive Director
Simon Willis
NED
Arvid Pedersen
Executive Director
Tell us a bit about how founding team knows
each other.
* Suchit & Arvid have been involved with RRAM since its inception and have grown that business to where it is now.
* John has known them both for over 8 years in his role as Chairman of RRFM and worked closely to establish Ribbon Life to this point.
* John had met Simon in 2016 during the potential listing and valuations process of a former client seeking that Class 1 license. He was introduced to the Board in 2021 and joined as an NED then.
Why did you decide to start this
company?
The Life Assurance sector has not been disrupted and this gap presents an astonishing opportunity for significant market advantage.
Are all the founders full-time on this
project?
Yes
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