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Transparency Behind Our Marketing Claims

Last update: 30th April

At Eleos, we take transparency very seriously, especially when it comes to marketing communications about our insurance products and services. This page outlines our practices around collecting, using and protecting marketing data in line with FCA regulations.
If you have further queries about the data please feel free to contact us at support@eleos.co.uk

Some stats to support our claims:

Loved by customers

This claim is calculated according to the number of customers who have explored the possibility of protecting their income by reviewing quote options, completing our eligibility check or buying a policy.

‘Earn up to £428 per customer’

This claim is based on calculations using our standard commission-sharing model. The larger the size of the distribution partner’s customer base and the higher the volume of monthly traffic to Eleos’s system, the better the commission split becomes for partners.

‘The Eleos solution maximises your ROI’

This claim is based on the way our embedded and white-labelled options enable our partners significantly to increase their revenue without incurring any set-up costs.

‘Eleos is the UK’s first and only fully digital insurance provider’

This claim is substantiated by the fact that, currently, all other insurance providers whose customer journey begins online nevertheless require their customers to complete their application with at least one conversation with an agent or broker over the phone. Eleos does not require this of its customers.

‘Our expert team will take your developers through every step of the white-labelled and embedding process’

This claim reflects the nature of our technical team’s complete involvement from start to finish in the white-labelling and embedding processes. No task is left solely in the hands of our partners’ developers.

‘Our product has no set up costs’

Our partners pay nothing to white-label or embed our insurance product into their platforms. Their developers will need to spend some time setting up the desired journey.

Development time varies dependant on the journey our partner selects

White-label: Just some front-end work on our partners end to display Eleos and send the customer to our platform. The only effort would be to build the URL with the necessary query parameters.

White-label + notifications to partner: Same as previous one but Eleos notify via webhook to the partner about the user progress. This requires more work on the partner side to have an endpoint that we can call with information about the customer progress

Embed: This requires the partner to build everything on their side. We only offer the APIs to get quotes and apply to buy a policy

‘Our partners benefit from our FCA Compliance’

This claim is based on Eleos’s status as a company fully authorised and regulated by the Financial Conduct Authority (FRN: 998550). Our distribution partners don't have to apply for any regulatory approvals to benefit from our partner program, depending on the level of integration they choose. Eleos handles everything on an introducer level.

‘Our partners benefit from our FCA Compliance’

This claim refers to the speed with which we are able to complete the set-up process for our partners, provided they give us the information we need according to the schedule we set and dependent upon our partners chosen level of Eleos integration.

White-label Integration: If our partners build the URL and send the customer to us with no notification. It could be ready in under a week

White-label + Notification Integration: For Eleos it takes under a week. Although, our partner will have to build the endpoint on their side to receive notifications.

Embedded Integration: Most effort is on the partner's side, in addition to the length of time it will take to build. The time this takes varied dependant upon the partner

‘Buy insurance digitally in minutes’

Our platform is entirely digital, removing the need for customers to speak to anyone in order to take out a policy.

‘If you need any help, contact our customer service team 9am-6pm Monday to Friday’

This claim relates to the availability of our customer support service which is available by WhatsApp, email and phone on all working days excluding public holidays.

‘Get unlimited help - no hidden costs, customer support is completely free’

Eleos customers can use our support service as often as they wish, for which no charges are involved.

‘Get unlimited help - no hidden costs, customer support is completely free’

Eleos customers can use our support service as often as they wish, for which no charges are involved.

‘Talk to us your way - email, WhatsApp, phonecall’

When using our support service, customers may choose their preferred method of communication, with options to use email, WhatsApp or to speak to one of our agents in person.

Here is what our customers say [customer quotations]

All customer reviews we use in our marketing materials are from our customers and verified by Reviews.io

‘4.9 star rating’

This claim is based on the average rating out of 5 given by verified Eleos customers who have posted reviews on reviews.io

‘Sign up today and get your first 3 months back!’

This claim refers to the offer we make to all new customers. They are required to pay the first 3 months’ premiums and once they have done so we pay that money back. They do not qualify to have their money repaid if any of their first three premium payments are missed or paid late.

Customers have ‘Flexibility to increase or decrease your level of cover’

This option is subject to the fulfilment of certain criteria specified in the terms and conditions of the Policy Document

‘An easy-to-use dashboard to manage your policy and start a claim’

This statement refers to the way in which customers are able to use our web app to carry out the routine management of their policy including a link to a digital claims form provided by our underwriter Shepherds Friendly - no phone calls required

‘Plus all these extra benefits when you join the Eleos club:

  • Cashback every time you buy from popular brands
  • 24/7 remote access to GPs
  • Free mental health support service
  • 20% discount at Nuffield Health gyms £6,000 of life insurance (for Income protection product only)’
These benefits are explained on our Extra Benefits page - They are not contractual benefits, which means they do not form part of the contract between the customer, Eleos and our underwriter. They are discretionary benefits provided on our behalf by third parties, which means we are not contractually obliged to offer them to customers but we do so on the proviso that they can be withdrawn if necessary without affecting the contractual agreement.

‘Life insurance with Eleos can cost as little as £5 a month’

Currently the lowest monthly premium we offer is £5

‘The average premiums in 2024 are:

£9.71 a month for single cover

£16.84 a month for joint cover’

These claims are based on independent research conducted on behalf of online insurance broker: https://iaminsured.co.uk/guide/average-cost-of-life-insurance/
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Eleos Life Limited (FRN: 998550) is authorised and regulated by the Financial Conduct Authority. Eleos Life Limited is a company registered in England and Wales (Company Number 14010855), with its registered office at 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ.©Eleos Life Limited 2024