Apollo and Innovative Risk Labs introduce a ground-breaking insurance solution for SMEs in the UK.

A new insurance product from Innovative Risk Labs and Apollo is intended to help small and medium-sized UK businesses give full parental leave benefits without having to worry about incurring unaffordable fees.

Tyree Schoen

March 05, 2024

0

1Min Read

125

Wealth

JustParent is a creative approach that aims to solve the difficulties SMEs encounter in offering complete parental leave benefits while continuing to be financially sustainable.

With the ability to give SMEs significant paid parental leave benefits, such as complete maternity and paternity pay for six months, JustParent is set to revolutionize employee benefits.

Through tackling the financial obstacles related to parental leave benefits, JustParent hopes to promote greater inclusivity in the workplace and draw top talent to small and medium-sized enterprises.

Apollo's Innovation Class Leader Hayley Budd commented on the news, saying, "JustParent is a perfect fit for our Innovation Consortium at Lloyd's and embodies the essence of groundbreaking insurance solutions." Our strategy's central goal is to help our clients' businesses succeed, and we take great pride in doing so by raising the bar for employee benefits. Such a commodity has never been more significant.

Innovative Risk Labs CEO Ed Gaze continued, "This is no typical insurance product launch. At a time when there is a historic labor shortage in the UK market, JustParent aims to level the playing field for SMEs in terms of hiring and talent retention. It's about improving inclusiveness at work across the nation and improving family lives. It's about giving diversity the chance to thrive in fields that have historically been constrained by parental leave concerns. This product has undergone extensive development, and we are eager to introduce it to UK consumers.