Startups redefining end-of-life
The emergence of "death tech" is reshaping how society approaches end-of-life matters, transforming a traditionally sombre industry into one ripe for innovation and growth. Valued at £78 billion, this sector aligns with the burgeoning silver economy, which is projected to reach €5.7 trillion (a third of Europe’s GDP) by 2025.
As the global population ages, the demand for accessible, inclusive solutions that address the emotional, logistical, and financial challenges surrounding death is more pressing than ever.
Globally, 56 million deaths occur annually, leading to millions of funerals, burials, and cremations. The global funeral services market is projected to reach $103 billion by 2027. Despite this significant market, estate planning remains widely underutilised. Only 30-40% of adults in G7 countries have a will, with the figure slightly higher in Australia (52%) but significantly lower in developing countries, where estate planning awareness is limited due to fewer assets per capita. This underscores the need for accessible, inclusive solutions to bridge disparities in estate planning and legacy preservation.
Informal caregiving, particularly by women, adds another layer of complexity. In the UK alone, 10.6 million unpaid carers – many of whom are women – take on significant responsibilities. This extensive care giving that often exacerbates gender inequalities and reduces their future employment opportunities. These caregivers, who are more likely to face mental health challenges and less likely to have financial education, are often overwhelmed by the decision-making processes that come with loss.
In Europe, 18% of women reduce their working hours to provide care, which significantly impacts their financial stability and career progression. As healthcare systems face staffing shortages and Europe’s population continues to age, informal caregiving responsibilities are expected to grow, making it critical to support this underserved demographic.
Technology is stepping in to address these challenges, with startups innovating to make end-of-life planning more approachable and user-friendly. By applying principles like human-centred design, storytelling, and trauma-informed approaches, these companies are changing how individuals and families navigate loss. Platforms offering streamlined estate planning, grief management tools, and resources to promote family connections are easing the administrative burden of death and also addressing its emotional challenges.
Digital tools are becoming critical in bridging societal divides, providing equitable access to estate planning and legacy preservation. They empower underserved communities, reduce administrative burdens, and foster stronger family connections. This is particularly important for Europe, as our continent has the largest share (28%) of the over-60 population living alone, with the United States (27%) coming second. These solutions are also helping combat loneliness and chronic disconnection.
The real challenge is not only providing the perfect technological solution but also addressing a taboo topic in a culturally sensitive way and linking it to the values of our users. Our market research shows the importance of working with trusted advisors, such as charities and healthcare professionals, to build credibility and foster engagement.
At Legacy Compass, we focus on simplifying the complexities of end-of-life planning. The platform combines empathetic design with cutting-edge technology to guide users through estate planning, legacy preservation, and grief support. By focusing on user-friendly tools and tailored services, Legacy Compass aims to reduce financial, emotional, and social disparities while fostering stronger intergenerational ties. With a commitment to inclusivity and community well-being, Legacy Compass exemplifies the transformative potential of death-tech to address pressing global challenges in an ageing world.
By focusing on the emotional and psychological stress of loss, we aim to improve the wellbeing of individuals and families during challenging times. By alleviating the economic burden on informal caregivers, we support fair work practices and gender equality. Furthermore, by ensuring equitable access to resources and support, we promote fairness, inclusivity, and stronger, more resilient communities. Currently, Legacy Compass is spearheading a fundraiser to kickstart its mission to redefine end-of-life planning, you can find a short video sharing its story and vision here: Kickstarter Campaign.
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