Eleos & Wollit Partner to Enhance Financial Resilience

Eleos Insurance, a digital provider of embedded income protection, has announced a strategic partnership with Wollit, a credit building subscription service. 

The collaboration will enable Wollit to offer digital income protection to customers alongside its credit improvement tools.

The integration allows Wollit users to access income protection insurance through the same platform they use for credit building, creating a more comprehensive financial resilience service.

Credit Building Mechanics

Wollit operates by providing customers with an interest-free loan covering their 12-month subscription at £9.99 per month. The company reports each payment to major UK credit agencies, helping individuals establish or rebuild their credit history through consistent payments.

The platform includes additional features such as Rent Reporting, which communicates rent payments to Experian, and Affordability Boost, a tool that shows customers how lenders assess their financial position.

By incorporating Eleos' income protection insurance, Wollit customers can now safeguard their ability to make regular payments—a critical factor for credit building—even when facing unexpected income disruption.

Embedded Insurance Integration

Kiruba Shankar Eswaran, Eleos CEO, comments on the partnership: “Financial resilience is built on multiple pillars, with credit health and income security being fundamental components. 

“Our partnership with Wollit aligned naturally—as customers build their credit profiles, they can simultaneously protect their income, which is vital in building personal credit. 

“Together, we're providing a comprehensive approach for customers to become financially more prepared."

The collaboration demonstrates how embedded insurance solutions can create more integrated financial services for consumers, combining protection products with other financial tools.

Market Impact

Eleanor Hunt-Pain, Product Manager at Wollit, says: “We're excited to partner with Eleos to bring affordable and accessible income protection insurance to our customers. 

“Wollit Credit Builder helps users build their credit history with a simple 12-month subscription. Our partnership with Eleos will allow customers to protect their credit building progress and future financial commitments if they become unable to work. 

“Eleos's fully digital service integrates seamlessly with Wollit's user-friendly app, ensuring customers have the best experience possible while fulfilling our mission to improve financial security for millions of people across the UK.”

Founded in London in 2023, Eleos provides embedded income protection and life insurance both directly to consumers and through partnerships with financial services companies including Loqbox, Creditspring, Updraft and CreditLadder. 

The company reports that partners embedding their income protection products can generate up to £428 per policy sold.

This partnership represents a growing trend in the fintech sector where complementary services are being combined to address multiple aspects of financial health simultaneously, creating more value for customers while opening new revenue streams for providers.

For Wollit customers, the addition of income protection addresses a significant risk factor in credit building—the potential for income disruption to derail payment schedules and damage the credit score improvements they have worked to achieve.

The integration process has been designed to maintain the streamlined user experience that fintech customers expect, with the insurance offering appearing as a natural extension of the credit building journey rather than a separate product.

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