INSURANCE
“ Providers have had to adapt to survive and sought out services like integrating digital services to help them cater to their customers and keep them ahead of the curve ”
DAVID VANEK CEO AND CO-FOUNDER , ANORAK number , several hundred are under 70 with dependents . According to Phil Zeidler , co-founder of DeadHappy , a next generation life insurance insurtech-founded in 2013 , the demand for life insurance has improved in recent years , but the protection gap is still far too wide for comfort .
He explains , “ There ' s a huge unmet need for life insurance cover . Data shows the protection gap ( the gap of people that potentially need protection products like life insurance compared to those that have it ) amounts to 8.5 million people in the UK alone .”
Zeidler points out that if these people were to die , then their loved ones would be left , not only managing the terrible grief of losing a loved one but also in financial ruin . He describes the situation as “ a pretty desperate state of affairs .”
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