Innovative Risk Labs and Apollo launch JustParent

Insurtech incubator Innovative Risk Labs has partnered with Apollo Underwriting to launch JustParent, “the UK’s first parental leave insurance.”

The new coverage will be marketed to SMEs as an employee benefit and it can be customized to cover between 6-30 weeks for paternity leave, and 12-30 weeks for maternity leave.

Late last year, JustParent secured £1.2 million in pre-seed funding.

“JustParent embodies the essence of groundbreaking insurance solutions and is a perfect fit for our Innovation Consortium at Lloyd’s. Enabling our clients’ business to flourish is at the core of our strategy and we are proud to do this by setting a new standard in employee benefits. Never has a product of this kind been so important.” – Hayley Budd, Apollo’s Innovation Class Leader.

“This is no ordinary insurance product launch. JustParent is about leveling the recruitment and talent retention playing field for SMEs – and this at a time of historic labour scarcity in the UK market. It’s about transforming family lives for the better and enhancing inclusion at work across the country. It’s about enabling diversity to flourish in sectors traditionally hamstrung by risks around parental leave. A lot of work has gone into this product and we can’t wait to take it to customers across the UK.” – Ed Gaze, CEO of Innovative Risk Labs.