DeadHappy, the UK pay-as-you-go life insurance provider, raises £4M Series A

DeadHappy, a U.K.-basically based totally insurtech startup that wants to offer extra versatile life insurance and decide away the taboo surrounding death, has raised £4 million in Sequence A funding. Backing comes from, alongside the firm’s seed investor Octopus Ventures.

Basically based in 2017, DeadHappy claims to be the UK’s “first totally digital pay-as-you-stride life insurance provider”. It offers versatile life insurance policies which can additionally very smartly be designed to be “more cost effective, easier and higher” than current mature services. This along with pricing insurance in step with your current situations and the likelihood to add (or decide away) further protection on a rolling basis.

More broadly, the startup is creating what it calls its “Deathwish” platform, which is something such as a will. The premise is you may additionally specify how you wish any future insurance payout to be outdated, a lot like paying off your mortgage. And there are additionally plans to encompass varied needs now not linked to funds.

“Our imaginative and prescient is to alternate attitudes to death and we’re tackling that in a different of ideas,” DeadHappy co-founder Phil Zeidler tells me. “Despite death being the one constructive guess humans face, it remains for many a taboo arena, and the failure to chat about it and concept for it is a long way each and each counterintuitive and ends in critical further trauma at the most tough of times for household and cherished ones”.

For the time being the Deathwish platform offers financially motivated Deathwishes, but the longer time duration concept is to enable functional Deathwishes, a lot like ensuring your funeral is the scheme you would in point of fact prefer it, and what Zeidler calls emotionally motivated Deathwishes.

The premise is to again offer a skill to again cherished ones “produce something critical in their lives, whether that’s learning easy ideas to play the drums or funding an expedition to the Amazon,” he explains.

“Crucially, customers can portion these Deathwishes as they decide, which is a functional utility to make certain their needs are constructive and understood. Our platform acts as a catalyst for opening a conversation with cherished ones and a situation to portion recorded video messages and tales”.

Meanwhile, DeadHappy says this may additionally fair employ the current for future affirm by further building the technology and capabilities of its Deathwish platform. It additionally plans to spice up its product and partnership choices to foremost financial service distributors.

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