By the 19th Century , life insurance was big business . In the 1820s , the author Sir Walter Scott – himself a director of an insurance company in Scotland – took out three life insurance policies totalling £ 6,000 ( over £ 500,000 in today ’ s money ). 20 years later , Charles Dickens insured his life with Eagle Insurance in London for £ 5,000 .

In the 1940s , the legs of Hollywood actress Betty Grable were insured on the Lloyd ’ s market by her movie studio for US $ 1mn – a staggering amount of money at the time . It was all part of a publicity stunt for one of the world ’ s most recognisable stars , but it set a precedent for insuring body parts that continues to this day .

The invention of Apple ’ s iPhone and other smartphones opened a new frontier for insurance . Although insurers have been generally slow to modernise , the internet and smartphones have led to a flurry of successful insurtech firms – and embedded insurance means that the future of insurance sits at consumers ’ fingertips .

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