DeadHappy

UK-based DeadHappy offers digital pay-as-you-go life and near-death insurance for UK applicants between the ages of 18 and 60 years. It also offers digital wills and “deathwishes,” where customers can create and share their wishes for what happens after their deaths.

Customers can apply for and purchase life insurance through DeadHappy’s website without the requirement of a medical check-up. Policies are underwritten by Covéa Life based on the customers’ answers to the questions asked during the onboarding process. The company offers flexible term life insurance policies with a coverage period of 10 years, with the opportunity to renew annually. It also offers a near-death cover, where customers will be paid 50% of their cover in the event of a critical illness.

The platform generates revenue through commissions on insurance plans and extensions, as well as fees of GBP 65–105 (~USD 88–142) for creating wills. It also charges a fixed fee from businesses that sponsor deathwishes each time it is selected or insured. Further, it earns fees from co-branding partnerships on the sales of each DeadHappy product.

As of December 2021, DeadHappy had sold over 18,600 life insurance plans and enabled the creation of over 213,000 deathwishes.

In December 2021, DeadHappy raised GBP 5.3 million (~USD 7.2 million) in an equity crowdfunding round, valuing it at GBP 35 million (~USD 47 million) and bringing its total funding to USD 21.6 million.

Key competitors: None comparable (DeadHappy is the only startup that offers near-death policy covers and deathwishes to customers)