DeadHappy thinks traditional life insurance is on death's door
by Startacus Admin
Insurtech startup DeadHappy officially launched this week, bringing the UK’s first fully digital pay-as-you-go life insurance to consumers. The company is on a mission to make it simpler for everyone, particularly the 8.1 million Brits who don’t have life insurance, to get protection that meets their needs at the right price.
There's InsurTech disruption in pretty much all areas of the traditional Insurance sector. Think Panzly, the InsurTech startup that's created the 1st flight insurance for delays or cancellations with automatic and immediate payouts, or InsurTech startup Waggel, a new digital pet insurance for pet people, as two recent examples.
DeadHappy is the UK’s first fully digital pay-as-you-go life insurance provider. 
Its PAYG life insurance policies are designed to be cheaper, easier and better than existing traditional providers. As a result, the company is on a mission to make it simpler for everyone, particularly the 8.1 million Brits who don’t have life insurance, to get some kind of protection that meets their needs at the right price.
Its ‘deathwishes’ also help customers personalise their life insurance by expressing what they want to happen when they die – from being able to pay off their mortgage to funding a wake party in Ibiza for their friends. Not only do customers benefit from paying the right price, applications take just a few minutes, not hours or days, right through to completion.
DeadHappy has managed to rethink, redesign, and distil the underwriting process into 4 simple questions. When combined with a technology platform that focuses on personalising the cover, it’s now quicker and easier for people to get the protection they want, all online.
DeadHappy is led by a veteran team with a broad range of digital and insurtech experience, including co-founder Phil Zeidler, Co-founder Andy Knott, COO Dominic Holton, and CFO Ana Teixeira.
Phil Zeidler, DeadHappy co-founder, said: “Traditional life insurance is overpriced, complex and dull. People are paying over the odds as a result. Our philosophy is different – you’re far less likely to die when you’re younger, this means you should pay less. It’s pretty simple. We’re making this possible for the first time in the UK. We’re also trying to break new ground in how death is talked about, to help people plan for what happens when they die – without resorting to ‘project fear’. Death is never going to be the top of anyone’s list of favourite pub conversations, but we hope to at least make it a more approachable, less daunting conversation to have.”
DeadHappy is authorised and regulated by the Financial Conduct Authority (FCA) – the independent body which regulates firms working in financial services. It’s backed with £1.5m seed investment led by Octopus Ventures. The company is also supported by strategic partnerships with industry heavyweights including Covéa and GenRe.
Malcolm Ferguson, Principal at Octopus Ventures said: “DeadHappy is one of the hottest insurtech start-ups out there and is uniquely positioned to transform the life insurance market. The sector is currently overly complicated and reliant on financial advisors to sell policies. By simplifying the process and allowing consumers to buy direct, I’m excited to see DeadHappy grow by helping people get the life insurance they need.”
We look forward to seeing how DeadHappy and their 'pay-as-you-go' life insurance platform grows.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
North-East of England early-stage entrepreneurs and startups take note! North-East England startups sought for latest Ignite pre-accelerator programme.
Workplace discrimination and failure to address social mobility costs UK economy £270bn per year according to research by graduate recruitment platform Debut.
dip is a free to download and free to use shopping companion app that shows users relevant high street deals based on their hyper-location.
The EdTech startup aiming to connect inspirational teachers with those looking for something a little different
Stigma around mental health struggles and burnout is costing the UK economy £1.4bn a year through unexplained sick days.
The UK leads Europe and are fourth in the world for scaleup investment after US, China and India, according to the Tech Nation Report for 2019.
Currently in private beta, Paypal for Instagram Influencers XPO is a payment processing app that is aiming to make it simple and secure to pay influencers!
Weengs is a London based startup that's on a mission to simplify order fulfilment for small ecommerce businesses, helping business owners & e-sellers grow.
The portfolio and assessment platform that facilitates fast feedback and collaboration between teachers, students and parents.
Top technology investors have been named as part of a high calibre judging panel for upSTART, Digital DNA’s 2019 startup competition as the countdown for startups to apply begins.
Published on: 20th February 2019
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- North-East England startups sought for latest Ignite pre-accelerator programme 18th May 2019 North-East of England early-stage entrepreneurs and startups take note! North-East England startups sought for latest Ignite pre-accelerator programme.
- Stigma around mental health costs UK economy £1.4bn a year 15th May 2019 Stigma around mental health struggles and burnout is costing the UK economy £1.4bn a year through unexplained sick days.
- UK leads Europe in scaleup investment 13th May 2019 The UK leads Europe and are fourth in the world for scaleup investment after US, China and India, according to the Tech Nation Report for 2019.
- Energy Sector startups sought for EDF Energy’s 2019 Pulse Innovation Challenge 9th May 2019 EDF Energy’s innovation accelerator, Blue Lab are on the hunt for the best new ideas that could spark innovation in the energy sector.
