Almost all sectors and services are undergoing digitisation and we’ve witnessed this trend accelerate since the COVID-19 pandemic. Insurance industry, too, pivoted quickly and now most of its services are offered online. London-based startup Bequest aims to further shake things up in this segment by offering simplified wills and life insurance for the millennial market. It has secured a £1.7 million seed funding and is also launching its new insurance offering that was being beta tested.
The next step
The latest funding round for Bequest was led by Kuvi Capital. Clocktower Ventures and Form Ventures participated as well, and all three investors will join the startups’ board as its platform scales up. Bequest will utilise these fresh funds to further develop its product offerings and generate traction for its services. It is also partnering up with Panda’s Foundation, but exact details of this are still under wraps.
James Buckley-Thorp, CEO and founder of Bequest, says, “Currently, 38 million families are unprotected and uninsured each year. We, at Bequest, want to make sure everyone is covered by making it relatable, accessible and something that does not cost an arm and a leg.” ...