35 · INSURANCE PARTNERSHIP — LETTER OF INTENT (TEMPLATE)
Version: 1.0 | Date: 12.03.2026 | Status: Canonical Category: Business / Legal SSOT for: Insurance partnership framework, LOI template, co-branded product structure Dependencies: 22_PLATFORM_PROTECTION, 30_SMART_CONTRACT_INSURANCE, 31_B2B_PLAYBOOK
TL;DR
- LOI template for Wellex + insurance company partnership
- B2B2C model: insurer offers discounts to clients with high WVI
- Win-win: Wellex gets acquisition channel, insurer reduces claims
- 3 partnership formats: Wellness Discount, Co-branded Product, WVI API
1. Strategic Rationale
Why an insurance company needs Wellex
| Metric | Without Wellex | With Wellex |
|---|---|---|
| Client health visibility | Annual checkup (1 data point/year) | WVI daily (365 data points/year) |
| Preventive intervention | After the fact | Real-time (AI Coach) |
| Client engagement | Policy → forgotten | Bracelet + APP → daily contact |
| Risk assessment | Static factors (age, gender) | Dynamic WVI (actual health) |
| Claims reduction (target) | Baseline | −12–18% over 24 months |
Why Wellex needs an insurance company
| Value | Description |
|---|---|
| Acquisition channel | Insurer offers Wellex to its clients → mass B2B2C |
| Trust transfer | "Recommended by [Allianz/AXA]" — instant trust |
| Financial incentive for user | Insurance discount = another motivator to maintain WVI |
| Data enrichment | Aggregated wellness data for product |
2. Three Partnership Formats
Format A: Wellness Discount Programme (entry level)
Mechanics: Insurer's client who maintains WVI ≥ 70 for 90+ days receives a discount on insurance premium.
Insurer's client → registration at wellex.ai → $19/mo subscription
→ wears bracelet → maintains WVI ≥ 70
→ every 90 days → automatic report to insurer (anonymized)
→ 10–20% discount on next insurance period
| Parameter | Value |
|---|---|
| Discount | 10% (WVI 70–79) / 15% (WVI 80–89) / 20% (WVI 90+) |
| Assessment period | 90 days rolling average |
| Data transmitted | WVI score + compliance status only (not raw biometrics) |
| User consent | Explicit opt-in at registration |
| Technical integration | API endpoint: GET /api/v1/wvi/compliance/{user_id} |
Format B: Co-branded Product (advanced level)
Mechanics: Joint product "[Insurer] Wellness by Wellex" — sold to insurer's clients as bundle.
| Component | Provider |
|---|---|
| Insurance policy | Insurance company |
| Wellex Band + APP + WEB | Wellex |
| Co-branded design (APP) | Joint development |
| Marketing | Joint budget |
| Support Level 1 | Insurer (first line) |
| Support Level 2 | Wellex (technical) |
Pricing:
- Insurer includes $19/mo Wellex in policy cost
- Wellex receives $15/user/mo (after insurer commission)
- Client sees: "Wellness bracelet free in your insurance package"
Format C: WVI API for Underwriting (strategic level)
Mechanics: Insurer uses aggregated, anonymized WVI data to improve underwriting models.
| Parameter | Value |
|---|---|
| Data | Anonymized: WVI distribution, wellness trends, risk clusters |
| Granularity | By age groups / regions / activity types |
| Frequency | Monthly reports + real-time API |
| Price | $0.50–$2 per user/month (depending on volume) |
| Compliance | GDPR Article 9 (health data), explicit consent, anonymization |
| Availability | Phase 3 (Year 2) |
3. LOI Template
LETTER OF INTENT
Re: Strategic Partnership — Wellness Insurance Programme
Date: [DD.MM.YYYY]
Between:
Party A (Insurance Company): [Full Legal Name] [Registration Number] [Registered Address] Represented by: [Name, Title] (hereinafter referred to as "Insurer")
Party B (Technology Provider): Wellex Ltd. [Registration Number] [Registered Address] Represented by: [Name, Title] (hereinafter referred to as "Wellex")
1. Background
The Insurer is a licensed insurance company operating in [jurisdictions]. Wellex is a wellness technology company operating the Wellex Protocol — a biometric wellness platform that combines wearable technology, AI coaching, and a proprietary Wellex Vitality Index (WVI) to provide measurable wellness outcomes.
The Parties wish to explore a strategic partnership to develop a joint wellness-insurance product offering.
2. Scope of Collaboration
The Parties intend to collaborate on:
2.1 Development of a Wellness Discount Programme whereby the Insurer's policyholders who maintain a WVI score of 70 or above for a minimum of 90 consecutive days receive a discount of [10–20]% on their insurance premium renewal.
2.2 Exploration of a co-branded wellness-insurance product ("[Insurer Name] Wellness by Wellex") combining the Insurer's insurance coverage with Wellex's biometric tracking platform, to be offered to the Insurer's existing and new policyholders.
2.3 Integration of Wellex's WVI API into the Insurer's risk assessment and client engagement systems, subject to data protection requirements and user consent.
3. Key Commercial Terms (Indicative)
| Term | Proposed |
|---|---|
| Wellex subscription cost per policyholder | $[15–19]/month |
| Revenue share on co-branded product | [To be negotiated] |
| WVI API access fee | $[0.50–2.00] per user/month |
| Minimum commitment (policyholders) | [500–2,000] users |
| Pilot duration | [90–180] days |
| Exclusivity | [Non-exclusive / Exclusive per region] |
| Territory | [Specify: UAE, GCC, CIS, EU] |
4. Pilot Programme
The Parties agree to commence a Pilot Programme under the following framework:
4.1 Duration: [90] days from Effective Date.
4.2 Scope: [500–1,000] of the Insurer's policyholders in [Region].
4.3 Each pilot participant receives:
- Wellex Band (free)
- Wellex APP + WEB Platform access
- AI Coach
- WVI tracking and monthly wellness report
4.4 Success criteria for pilot:
- Participant activation rate > 80%
- NPS > 45 among participants
- Average WVI improvement > +5 points over 90 days
- Participant retention > 70%
- Claims data comparison: pilot group vs control group
4.5 Pilot costs: [To be negotiated — options: shared equally / Wellex covers technology / Insurer covers distribution].
5. Data Protection and Privacy
5.1 All user data processing shall comply with applicable data protection legislation, including but not limited to GDPR (EU), PDPL (UAE), and local equivalents.
5.2 Wellex shall not share individual biometric data with the Insurer. Only aggregated, anonymised wellness scores (WVI) shall be transmitted, and only with explicit user consent.
5.3 Users may revoke data sharing consent at any time via Wellex APP Settings → Privacy.
5.4 The Parties shall execute a separate Data Processing Agreement (DPA) prior to any data exchange.
6. Intellectual Property
6.1 Each Party retains all intellectual property rights in its pre-existing technology, branding, and data.
6.2 Any co-developed materials (co-branded product design, joint marketing assets) shall be jointly owned unless otherwise agreed in the Definitive Agreement.
6.3 The "Emotional Mining" trademark and "WVI" methodology remain the exclusive property of Wellex.
7. Exclusivity
7.1 During the Pilot Programme, [Insurer] shall have a right of first refusal for exclusive partnership in [Territory] for a period of [6] months following pilot completion.
7.2 Wellex retains the right to partner with non-competing insurance companies in other territories during the pilot period.
8. Timeline
| Milestone | Target Date |
|---|---|
| LOI signed | [Date] |
| Technical integration kick-off | [LOI + 14 days] |
| Pilot launch | [LOI + 45 days] |
| Pilot mid-point review | [LOI + 90 days] |
| Pilot completion & review | [LOI + 135 days] |
| Definitive Agreement signed | [LOI + 150 days] |
| Full rollout | [LOI + 180 days] |
9. Non-Binding Nature
9.1 This Letter of Intent is non-binding and does not create any legal obligations between the Parties, except for Sections 6 (Intellectual Property) and 10 (Confidentiality), which are binding.
9.2 The Parties intend to negotiate and execute a Definitive Agreement that will contain binding terms and conditions.
10. Confidentiality
10.1 Each Party shall keep confidential all non-public information received from the other Party in connection with this LOI and the contemplated partnership.
10.2 This obligation survives termination of this LOI for a period of [24] months.
11. Governing Law
This LOI shall be governed by and construed in accordance with the laws of [UAE / England and Wales / other].
Signatures
For [Insurance Company]:
Name: ________________________________ Title: ________________________________ Date: ________________________________ Signature: ____________________________
For Wellex Ltd.:
Name: ________________________________ Title: ________________________________ Date: ________________________________ Signature: ____________________________
4. Target Insurance Partners
| Company | Region | Type | Priority | Contact |
|---|---|---|---|---|
| Allianz Partners | MENA / Global | Health + Life | 🔴 | [TBD] |
| AXA Gulf | UAE / GCC | Health | 🔴 | [TBD] |
| MetLife UAE | UAE | Life + Health | 🟡 | [TBD] |
| Daman Health (NHI) | Abu Dhabi | National health | 🟡 | [TBD] |
| SOGAZ | CIS / Russia | Universal | 🟡 | [TBD] |
| Reso-Garantiya | CIS | Health + Life | 🟢 | [TBD] |
| Bupa Global | International | Health | 🟢 | [TBD] |
Partner selection criteria
| Criterion | Minimum |
|---|---|
| Client base | 100K+ policyholders in target region |
| Digital maturity | API-ready, digital onboarding |
| Wellness interest | Existing wellness programme or stated intent |
| Regulatory standing | Licensed in target jurisdiction |
5. Financial Impact Model
For Wellex (per insurance partnership)
| Metric | Conservative | Base |
|---|---|---|
| Policyholders onboarded (Y1) | 2,000 | 5,000 |
| Wellex MRR | $30K/mo | $75K/mo |
| Referral spillover (20% become partners) | 400 | 1,000 |
| Additional organic users from trust | 1,000 | 3,000 |
| Total user impact | 3,400 | 9,000 |
For insurer (per partnership)
| Metric | Conservative | Base |
|---|---|---|
| Claims reduction (24 month) | −8% | −15% |
| Client retention improvement | +5% | +12% |
| NPS improvement | +8 | +15 |
| New product revenue | $100K/year | $400K/year |
6. Outreach Script (for first contact)
Email template for Head of Innovation / VP Partnerships
Subject: Wellex × [Company] — Wellness Insurance Partnership Opportunity
Dear [Name],
I'm reaching out from Wellex — a wellness technology platform that combines biometric tracking with financial incentives to improve health outcomes.
We've built the Wellex Vitality Index (WVI), a daily health score from 0 to 100, derived from emotional state, sleep quality, and physical activity — measured through our proprietary wearable device.
We believe there's a strong strategic fit with [Company]:
- For your policyholders: WVI-based premium discounts create real motivation to stay healthy
- For [Company]: measurable claims reduction (target: −12–18% over 24 months) + differentiated product offering + daily client engagement through our APP
We're currently exploring partnership pilots in [Region] and would love to discuss a 90-day pilot with [Company].
I've attached a one-pager with our partnership framework. Would you be open to a 20-minute call next week?
Best regards, [Name] [Title], Wellex wellex.ai
Changelog
▸ v1.0 (12.03.2026) — created by Opus 4.6. LOI template, 3 partnership formats, target list, financial model, outreach script.
→ Related: 22_PLATFORM_PROTECTION.md · 30_SMART_CONTRACT_INSURANCE.md · 31_B2B_PLAYBOOK.md
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