JustParent

JustParent provides a specialised insurance product for UK businesses with at least 25 employees, designed to help them offer enhanced parental leave pay. The company operates as a trading style of Innovative Risk Labs Ltd, an insurance broker authorised and regulated by the Financial Conduct Authority (FCA). This structure allows JustParent to function as a Lloyd's of London broker, with its policies underwritten by Apollo, a Lloyd's insurer.

The business model is centered on a B2B insurance platform that enables companies to cover the cost of parental leave pay above a statutory minimum, without facing significant financial risk. Clients can set their own enhanced leave policies, for example, offering between 12 to 30 weeks for maternity leave. JustParent then covers 100% of the basic salary for the leave period beyond the policy excess. This service aims to help small and medium-sized enterprises (SMEs) attract and retain talent by offering competitive parental leave benefits.

JustParent is led by Ed Gaze, who also serves as the CEO of its parent company, Innovative Risk Labs (IRL). Gaze has a background in engineering, finance, and management consulting, and previously headed the Lloyd's Lab, the insurance market's innovation accelerator. The initial concept for JustParent originated from business owners David and Cecily, who experienced the challenges of managing parental leave costs firsthand. IRL, co-founded by James York, took over the intellectual property and launched JustParent in March 2024. York is a serial entrepreneur and a founding member of the industry body Insurtech UK.

Keywords: parental leave insurance, employee benefits, InsurTech, SME insurance, UK business insurance, talent retention, employee leave management, Lloyd's of London broker, FCA regulated, B2B insurance, Apollo underwriter, Innovative Risk Labs, Ed Gaze, employee financial security, maternity leave pay, paternity leave pay