The Exeter

What The Exeter does

The Exeter is a UK mutual friendly society (Exeter Friendly Society Limited), founded in 1888 and headquartered in Exeter, providing health insurance, income protection, and life insurance products to UK individuals, families, and self-employed workers. The firm is authorised by the PRA and regulated by the FCA (Register number 205309) and operates without external shareholders, reinvesting profits for member benefit. Its core product set comprises Health+ private medical insurance (traditional and guided options), Income First income protection (4th largest UK writer by premium), and Real Life life insurance (covering both healthy individuals and those with pre-existing or multiple health conditions), complemented by a Multi-Benefit Plan that allows advisers to combine income protection and life cover in a single application.

Underlying technology includes a multi-benefit application system with instant underwriting decisions, integration with iPipeline's Advanced Underwriting platform (one of three providers alongside Vitality and Zurich), integration with UnderwriteMe's Protection Platform, and the HealthWise member benefits app — provided in partnership with Square Health — offering unlimited remote GP appointments, mental health support, physiotherapy, dietitian consultations, and annual health MOTs. Distribution is primarily through FCA-authorised financial advisers via a dedicated adviser portal, supplemented by direct-to-consumer online quoting and aggregator presence.

Revenue is generated through recurring subscription-based insurance premiums across the three product lines. Gross premium income reached £125.1M in 2024 (a 20.9% year-on-year increase), with £71M in claims paid to members in 2025. Customer segments span individual/family buyers, self-employed workers (44% of whom have ongoing health conditions), people with pre-existing medical conditions, and the FCA-authorised financial adviser channel itself.

Name

The Exeter

Legal name

Exeter Friendly Society Limited

Website

https://the-exeter.com

Company type

Private

Founded year

1888

Operating status

Operating

Headcount range

101–250 employees

Short description

The Exeter is a UK mutual friendly society providing Health+ private medical insurance, Income First income protection (4th largest UK writer), and Real Life life cover to individuals, families, and self-employed workers, distributed primarily through FCA-authorised financial advisers across the United Kingdom.

Ownership category

akta.pro rank

Product category

Health and Protection Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Individual Disability Income Insurance (Non-Group) (FSAIAIAA)

akta.pro secondary industry

Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK)

Keywords

• Private medical insurance
• Income protection insurance
• Life insurance products
• Protection insurance services
• Mutual friendly society

Headquarters

HQ city

Exeter

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Health Insurance Premiums: Revenue from Health+ private medical insurance products. Premium growth of 20.9% in 2024 driven by health product demand. Members access private healthcare in the UK with various cover options including traditional and guided plans.
2. Income Protection Premiums: Revenue from Income First income protection products. The Exeter is the 4th largest writer of income protection by premium in the UK market. Products provide financial support during illness or injury with various waiting periods and benefit levels.
3. Life Insurance Premiums: Revenue from Real Life life insurance products covering individuals from good health to those with serious or multiple health conditions. Joint life and dual cover options available.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

The Exeter is a UK mutual friendly society that provides private health insurance (Health+), income protection (Income First), and life insurance (Real Life) to UK individuals, couples, and families. Products are distributed primarily through a network of FCA-authorised financial advisers, supplemented by direct digital sales channels and aggregator platforms. All members receive free access to the HealthWise app offering remote GP appointments, mental health support, and health MOTs.

Product overview

The Exeter is a mutual friendly society offering a portfolio of health insurance, income protection, and life insurance products designed for specific customer segments. Its core products include Health+ (private medical insurance with traditional and guided options), Income First (income protection for various occupations), and Real Life (life insurance for healthy individuals and those with health conditions). The Multi-Benefit Plan allows combining Income First and Real Life for tailored protection. All members receive access to HealthWise, a free digital health app providing remote GP appointments, mental health support, physiotherapy, and health MOTs, powered by Square Health. The company operates through financial advisers with digital platforms including an adviser portal and member portal.

Differentiator

Problem solved

Functional benefit

Brands

• HealthWise: Free member benefits app providing remote GP appointments, health MOTs, mental health support, physiotherapy, dietitian consultations, and lifestyle guidance
• Health+
• Income First
• Real Life

Products and services

• Health+

Quantifiable outcome

• 93% of income protection claims paid on average over the last 10 years
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, flagship and minor.

• SM AdvicecoreGTM or Marketing Partner · 15 December 2025Partnership developed with SM Advice on free three-month social media management programme for FCA-authorised financial advisers with no online presence. Developed in response to AMI research showing 51% of advisers don't use social media for protection communication.
• Legal & GeneralcoreGTM or Marketing Partner · 15 December 2025Joint partners with SM Advice on free social media service for advisers. Both highlighted in AMI report as industry leaders collaborating to counter misinformation from finfluencers and improve consumer engagement through professional advice.
• iPipelinecoreTechnology or Integration · 9 December 2025The Exeter added its Real Life life insurance product to iPipeline's Advanced Underwriting adviser platform, exclusively available through SolutionBuilder. The platform captures information on 20 most common medical disclosures for faster and more accurate underwriting quotes. The Exeter is one of three providers supporting this feature alongside Vitality and Zurich.
• UnderwriteMecoreTechnology or Integration · 26 June 2025Partnership to integrate The Exeter's life insurance product into the Protection Platform, enhancing digital underwriting and ease of access for financial advisers. Introduces real-time underwriting and multi-benefit plans benefiting customers with pre-existing conditions.
• Square HealthcoreTechnology or IntegrationProvider of HealthWise member benefits app offering remote GP appointments, second medical opinions, physiotherapy, mental health support, dietitian consultations, lifestyle consultations, nutrition consultations, and Health MOTs. Services are CQC-registered and available globally without claiming on policy.
• Macmillan Cancer SupportflagshipOthersCorporate charity partner of The Exeter. Company employees undertook London to Paris cycle challenge raising over £23,000 for Macmillan. Partnership reflects The Exeter's purpose to support people in unexpected ill health events.
• Theatre Royal PlymouthminorOthersSupporter of Theatre Royal Plymouth's Acting Up programme promoting creativity, wellbeing, and social connection for people aged 55+. Also corporate members of TRP with complimentary tickets and exclusive access.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Vitality Health: UK private health insurer with strong wellness and member-engagement orientation and protection product breadth. Directly comparable to The Exeter's PMI and protection offering plus its HealthWise ecosystem model.
• Legal & General: Major UK life and protection insurer offering income protection, life cover and group protection; partnered with The Exeter on the SM Advice programme. Directly comparable on core IP and life lines and adviser distribution model.
• Royal London: Large UK mutual insurer providing life, income protection and protection products through advisers. Closest structural peer given the mutual-friendly-society ownership and intermediated protection focus.
• Zurich UK: UK life and health insurer offering income protection, life cover and critical illness; one of three providers supporting iPipeline's Advanced Underwriting medical-disclosure feature alongside The Exeter.
• British Friendly: UK mutual friendly society providing income protection and life cover through advisers. Closest scale-and-structure peer to The Exeter, both being mutual protection specialists.
• AIG Life: UK life and protection insurer offering income protection and life cover, distributed primarily via advisers. Comparable product set and adviser-led GTM.
• LV=: UK mutual insurer offering life cover, income protection and retirement products via advisers; mutual ownership makes it a structural analogue to The Exeter's friendly-society model.

Broad incumbents

• Bupa: Largest UK private medical insurer and dominant PMI player. Competes with The Exeter in UK PMI but at vastly greater scale and with broader corporate and retail offerings.
• Aviva: One of the largest UK insurers offering life, health, income protection and broader general insurance. Competes head-on with The Exeter in PMI and protection but as a multi-line incumbent.
• AXA Health: Major UK private health insurer with PMI and corporate health offerings. Direct overlap with The Exeter's Health+ product but part of broader AXA UK portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/_theexeter

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Exeter