Worry+Peace, one of the UK’s leading insurtech startups, and MOHARA, the innovative technology-based virtual incubator, have recently announced a co-venture to power the world’s first virtual insurtech incubator. Designed to offer co-founder capability for both Technical, Insurance and Regulatory needs, the collaboration is a refreshing new opportunity in this hot and burgeoning corner of the UK tech sector.
With Buckinghamshire and London spaces, the two fast-growing organisations are focused on powering distribution-orientated offerings in London and across the UK.
Worry+Peace already extends its regulatory authority to two startups as appointed representatives. The incubator, and co-venture with MOHARA, serves to offer enhanced technical co-founder capabilities if a founder requires even more than regulatory and insurer support.
“This widens the opportunity for insurtech. We’re delighted to partner with MOHARA, who’ve already shown how brilliant their model is. It also sits nicely with all our existing plans”, said York, founder of Worry+Peace.
“I want to see even more insurance experts innovating, especially those with insurance specialities which could work well in digital. Together with MOHARA, we’re providing two capabilities at one start point”, he added.
The programme is open-ended, and startups admitted will receive support for as long as co-founder expertise is required. The incubator is being piloted with five virtual berths, each available on a “first come, best served” basis.
Richard Sams, Managing Director of MOHARA comments,
“Although we are sector agnostic, when Worry+Peace approached us to partner on this, we realised our model would work well for insurtech. We also liked the fact this programme isn’t a pressure cooker. Those who do come on board aren’t on the clock. Together, we’re able to help them with both tech and complex insurance execution”
York and Sams emphasise that the new incubator is intended to supplement other existing programmes, like Startupbootcamp. Because the Worry+Peace X MOHARA Insurtech model focuses on co-founder support and technical contribution it should offer a complimentary solution to those with an entrepreneurial itch to scratch or who are already considering applying to programmes offering primarily management support and fundraising capabilities.
Founders or would-be entrepreneurs can enquire to join the virtual programme online by clicking HERE.