Lateral Targets Over-60s Market with Health and Wealth Products

Lateral is redesigning health and wealth products aimed at the United Kingdom's over-60s demographic. The company estimates its total addressable market at 8 million individuals classified as mass affluent, possessing household net wealth exceeding £500,000.

CEO Laura Ashforth told CB Insights that the over-60s population, often termed the 'silver economy,' represents a fast-growing and affluent segment that traditional brands frequently overlook. Lateral sees this group of 8 million adults as a multi-billion-pound opportunity, particularly within the health insurance sector.

The company is focusing on providing tailored solutions for this demographic, which is often underserved by conventional financial and insurance services. Market analysts suggest that addressing the needs of retiring and wealthy consumers could unlock significant growth potential in the finance and health sectors.

Lateral's strategy involves identifying and meeting the specific requirements of this population segment, for whom existing offerings may not be suitable. This targeted approach aims to capitalize on the expanding 'silver economy'.