Alexander Matjanec, Wysh Founder and CEO: “We're building the infrastructure that allows financial institutions to embed protection into their everyday products, creating a more inclusive financial system where protection grows naturally alongside savings”

In a world where financial security often feels out of reach, Wysh steps in as a symbol of hope and innovation. This dynamic company reimagines life insurance and financial planning, delivering tailored solutions that adapt to your unique journey. From term life insurance to accidental death coverage and cutting-edge savings accounts, Wysh focuses on providing flexible, personalized products designed to protect what matters most.

At the heart of Wysh is a mission to inspire confidence and peace of mind. The company’s approach goes beyond traditional financial services, empowering individuals and families to dream big while securing their futures. Tools like the Wysh Builder make it simple to identify coverage needs, ensuring every customer gets the protection they deserve withoutunnecessary complexities. Wysh's commitment to its customers doesn’t end with product offerings. The company prioritizes long-term relationships, supporting clients through life’s inevitable changes and ensuring their evolving needs are met. When the unthinkable happens, Wysh Granters step up with compassion, working hand-in-hand with families to fulfill their wishes and honor their legacies.

The Silicon Review had the privilege of speaking with Alexander Matjanec, Founder and CEO of Wysh. Under his leadership, Wysh has become more than just a financial services provider—it’s a partner in building dreams and safeguarding futures. Join us as Matjanec shares his insights on Wysh’s vision, innovative solutions, and the impact of creating a company dedicated to transforming how we approach financial protection.

In conversation with Alexander Matjanec, Founder and CEO of Wysh 

Q. How did Wysh evolve from a traditional insurtech to pioneering embedded protection?

While many insurtechs focus on digitizing traditional insurance processes, Wysh's journey led us to a more fundamental realization: the problem isn't just how insurance is sold, but how it's integrated into people's financial lives. This led us to develop Life Benefit, which embeds micro-life insurance directly into bank accounts. As an AM Best A- rated carrier backed by Northwestern Mutual, we were uniquely positioned to bridge the gap between traditional banking and insurance. Rather than asking people to qualify for protection, we made protection an automatic benefit of having a bank account.

Today, Wysh has evolved beyond being an insurtech company. We're building the infrastructure that allows financial institutions to embed protection into their everyday products, creating a more inclusive financial system where protection grows naturally alongside savings. This shift from direct-to-consumer insurance to embedded protection represents more than a business model change – it's about making financial security accessible to everyone, regardless of their health history or circumstances.

Q. Can you share a story about how embedded protection has transformed access to life insurance?

The moment that transformed Wysh's mission came during early consumer research, when a mother's comment stopped us in our tracks: "Wait. This has personal relevance to me. I'm a doubleamputee cancer survivor and single mom. I cannot buy life insurance anywhere. Are you saying that I can get some life insurance for my family with this?"Her words crystallized everything wrong with traditional insurance. Here was someonedoing everything right – working, saving, raising her family – but the system had no place for her. This wasn’t just market feedback; it was a moral imperative to reimagine how financial protection reaches families. This led us to create Life Benefit, which embeds microlife insurance directly into bank accounts. The concept is simple but revolutionary: when you save money, you automatically receive life insurance equal to a percentage of your savings, up to $20,000. No medical exams. No health questions. No rejections based on pre-existing conditions.

The impact has been profound. Partner banks report that Life Benefit has become a powerful tool for both deposit growth and customer engagement, with 40% increases in average account balances. But more importantly, we’re reaching people who have been historically excluded from financial protection. That mother’s story continues to drive our mission, reminding us that true innovation isn’t just about technology – it’s about creating dignity and security for every family.

Q. How is Wysh’s partnership with banks changing the way Americans think about financial protection?

Traditional banking and insurance have always existed in separate silos, forcing customers to navigate complex systems just to protect their families. Through our partnerships with banks and credit unions, we’re fundamentally changing this dynamic by making protection an inherent part of saving.

The results have been transformative. When protection grows automatically with savings, customers start viewing their accounts differently. Rather than seeing just a balance, they see a safety net that protects their family’s future. But what’s most exciting is how this approach democratizes access to financial protection. Banks can now offer their customers up to $20,000 in life insurance coverage simply for maintaining a savings balance. No medical exams, no lengthy applications, no exclusions for pre-existing conditions. This isn’t just another banking feature – it’s a fundamental reimagining of how financial protection should work.

Q. How does being an AM Best A- rated carrier change what’s possible in insurtech innovation?

Most insurtechs are forced to rely on traditional insurance carriers to bring their innovations to market. This dependency often means slower implementation, less flexibility, and compromised vision. Wysh operates differently – we can transform ideas into reality at the speed of a technology company while maintaining the security of a regulated insurance provider. This unique position allows us to pioneer solutions that others can’t. When we saw the opportunity to embed protection into banking products, we didn’t need to convince an incumbent carrier to take a chance on our vision. We could develop, file, and launch Life Benefit ourselves, maintaining control over every aspect from product design to implementation.

Being a carrier while thinking like a technology company gives us the best of both worlds – the credibility to work with major financial institutions and the agility to innovate at insurtech speed. This combination is essential for our mission of transforming how financial protection reaches American families.

Q. With Life Benefit winning multiple awards in 2024, what’s next for embedded protection?

After winning Best of Show at Finovate Fall 2023 and being named Best Embedded Finance Solution at the 2024 Banking Tech Awards, we’ve proven that embedded protection isn’t just an innovative concept – it’s the future of financial security. But these recognitions only fuel our drive to push the boundaries further.

Looking ahead, we see embedded protection evolving beyond its current form. While Life Benefit has demonstrated the power of combining savings with protection, we’re exploring new ways to integrate security into everyday financial products. This includes working with credit unions to develop community-focused solutions and partnering with Minority Deposit Institutions to expand access in underserved markets.

The industry is taking notice. Traditional carriers are realizing that the future of insurance isn’t just about digital applications – it’s about seamless integration into the banking experiences people use every day. But our vision extends beyond product innovation. Through our newly launched nonprofit, NAFLI, we’re working to create systemic change in how the financial system serves everyone. The future of embedded protection isn’t just about technology – it’s about building a more inclusive and secure financial future for all Americans.

Q. How is NAFLI, your new nonprofit initiative, extending Wysh’s impact beyond embedded protection?

When we developed Life Benefit, we discovered that innovative products alone weren’t enough to solve America’s financial protection gap. Creating true systemic change requires a broader approach – which led to the establishment of the National Alliance for Financial Literacy and Inclusion (NAFLI).

NAFLI represents our commitment to transforming how Americans access financial protection. While Wysh focuses on developing embedded insurance solutions, NAFLI works directly with Minority

Deposit Institutions (MDIs) and community organizations to promote financial education and expand access to protection in historically underserved communities. The organization brings together banking innovators, community leaders, and financial

institutions to tackle challenges that no single company can solve alone. Through education programs, partnerships, and advocacy, NAFLI is working to create a future where financial protection is truly accessible to everyone, regardless of their health history or zip code.

This isn’t just about corporate social responsibility – it’s about creating lasting change in the financial system. By combining Wysh’s innovative technology with NAFLI’s community-focused initiatives, we’re building a movement that extends far beyond embedded protection to reshape how Americans think about and access financial security.

“Traditional banking and insurance have always existed in separate silos, forcing customers to navigate complex systems just to protect their families. Through our partnerships with banks and credit unions, we're fundamentally changing this dynamic by making protection an inherent part of saving.”