Death is a taboo subject most of the time. But DeadHappy wants to change that, and our attitudes towards the deadly dull topic of life insurance. Back in March 2019 Dead Happy told IE magazine that things like taking payments via iZettle, Applepay and other methods was on the to do list, initial reaction online had been positive, and hinted that they would look at setting up a broker affiliates network.
It has been a long journey for Dead Happy from the initial idea a decade ago, but things are looking up as more capital has been given to the insurtech to help with their expansion plans. Here’s a press release from Dead Happy;
Launched in 2019 and based in Leicester, the insurtech startup is the UK’s first fully digital pay-as-you-go life insurance provider. The platform has already had tens of thousands of applicants create ‘Deathwishes’ through its life insurance platform. It’s simple – through the platform you can fill out a form that asks you what you want to happen when you die, how much you think it will cost, and who the recipients of the money should be.
DeadHappy has now raised a €4.5 million Series A round from e.ventures, along with seed investor Octopus Ventures.
The funding will allow the start up to power future growth by building the technology and capabilities of its ‘Deathwish’ platform, as well as expand its product and partnership offerings to major financial service distributors.
“We’re delighted e.ventures have joined Octopus Ventures in backing our vision,” said Phil Zeidler, co-founder of DeadHappy. “There’s real momentum behind genuinely disruptive insurance propositions, but we see the opportunity for a much broader platform creating different death services, as well as disrupting the world of insurance.
“Distribution is key for us, we began life as a direct-to-consumer proposition but there’s a big opportunity for us to distribute our products through other brands. We’re pleased to have proved that our product serves the market and now we’re focusing on scaling the business. This funding will help us to expand our technology and create additional products including digital wills, accidental death and critical illness cover. We’re also able to grow our team and relocate to bigger business premises.”
DeadHappy believes in creating fairer, more accessible, and flexible life insurance. Currently 70% of applications are accepted, and more than 63,000 deathwishes have been registered on the platform since launch.
“Our Trustpilot reviews also prove that customers love what we offer – our innovations are different and that’s landing really well with them,” said Zeidler. “We hear again and again from our customers that they find our application so simple and easy – we strive to take the complexity out of the process.”
“We were impressed by the DeadHappy team and their vision for changing death-related services,” said Andreas Haug, managing partner at e.ventures. “They have made excellent progress in a short time, and we look forward to supporting them through this exciting period of growth.”