| Date | Investors | Amount | Round |
|---|---|---|---|
$2.0m | Early VC | ||
| Total Funding | 000k | ||
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Wysh is a fintech company disrupting the life insurance sector by embedding its products into financial platforms people use daily. Founded by Alex Matjanec, the New York City-based startup aims to address the gap in financial protection for millions of Americans by making life insurance more accessible and inclusive. Matjanec identified that a significant portion of Americans need life insurance but are deterred by cost and complexity, which led to the creation of Wysh.
The company's flagship product, Life Benefit, integrates micro-life insurance coverage directly into savings accounts offered by partner banks, credit unions, and fintech apps. This product provides automatic, no-cost coverage, often as a percentage of the account balance, without requiring medical exams or complex underwriting. The coverage amount can grow with the customer's savings, providing a baseline of financial protection for expenses like funeral costs. This business model serves both consumers, by offering a simple entry point to life insurance, and financial institutions, by providing a value-added service to attract and retain customers.
Wysh also offers flexible term life insurance that allows customers to personalize their coverage based on specific financial goals, which they call "Wyshes." These can range from paying off a mortgage to funding education or even unconventional requests. The company emphasizes a consumer-first approach, aiming to transform life insurance from a complex purchase into a seamless, embedded benefit. Through strategic partnerships with financial entities like UNest and Peoples Bank & Trust, Wysh has significantly expanded its market reach.
Keywords: embedded insurance, micro-life insurance, insurtech, fintech, term life insurance, financial protection, digital insurance, life insurance benefits, financial inclusion, savings-linked insurance, no-exam life insurance, personalized coverage, financial wellness, bank partnerships, credit union solutions, fintech integration, automatic life insurance, customer-centric insurance