This is why Nicky Hector cofounded Life Ledger, a platform that consolidates this long-winded process. Maddyness UK caught up with Nicky to learn about the new business.
What was your professional background before founding Life Ledger?
My background spans three different types of experiences, with investment high up there. I worked for McKinsey, where I learned the ins and outs of M&A. I was also in the corporate venture capital team at Diageo and I had a stint in private equity working for BC Partners, so I feel I’m a seasoned investor myself.
New businesses are also a theme. I was involved in the setup, launch and growth of new concepts at Waitrose. This included Little Waitrose, the convenience store chain, and the cookery school. I helped launch Morrison’s online business back in 2014 and set up a heated clothing startup myself a couple of years ago.
I’ve also held a number of different corporate roles most recently and excitingly, setting up the international marketing team for Ocado Technology. I’ve had a fantastically fun career.
Tell me about Life Ledger?
Life Ledger aims to make death a little bit easier. Our platform consolidates and automates the process of telling multiple private sector companies that someone has died.
It is aimed at a digital immigrant audience – a techie way of saying the over-40s – so simplicity is key. We understand how users must be feeling when they have to go through this process – exhausted, confused and vulnerable – so we never ask for the same information twice.
When someone signs up to our ‘Register a Death’ product, they register themselves, the deceased, whether any accounts need to be switched to a surviving partner, and they then simply select the companies they wish to notify, add in the account details and press send. We have over 650 private sector companies that people can choose to notify within the platform.
We also have a ‘Register a Life’ product, which is the perfect add-on for those conscious of their own mortality and is a great adjunct to the will writing process. Here, we store all of the user’s account information to make the post-death notification process more streamlined for their loved ones.
What was the catalyst for launching Life Ledger?
Life Ledger emerged when my business partner, Tremayne Carew Pole, witnessed the administrative nightmare that a close friend faced following the death of a parent. Having seen my mother go through the same repetitive, inconsistent and time consuming process when my grandmother died, I felt compelled to build a solution. No one should have to say “My mother has died” so many times.
I’m a solution focussed person and I can’t let things go unsolved. We really started to build the business at the end of 2019 and the rest is history.