Hokodo and Worry+Peace seal insurtech partnership

Hokodo joins exclusive Worry+Peace insurtech regulatory incubator

Worry+Peace, the British-based insurtech, and Hokodo, the European insurtech that develops insurance solutions for B2B platforms, are delighted to announce the signature of a partnership agreement. Hokodo will be the third startup to join Worry+Peace’s successful insurtech regulatory incubation network. Hokodo have already received their authorisation via Worry+Peace as an Appointed Representative authorised and regulated by the Financial Conduct Authority.

Worry+Peace is an insurtech startup with its own intermediary, regulatory incubator for other startups and a forthcoming distribution platform for Providers across the UK. The company provides its clients with a range of self-service schemes as well as the ability to access the U.K.’s wholesale insurance market.

Hokodo is a startup that uses innovative technology to develop B2B insurance solutions which can be deployed seamlessly into the platforms that small businesses use on a daily basis such as trading marketplaces or accounting packages like QuickBooks and Xero. Thanks to Hokodo’s developer-friendly APIs, B2B platforms now have an easy way to expand the range of services that they offer to their users

Hokodo follow drone insurance gurus, Flock (who recently raised £2.25m) and digital industries specialist With Jack who have each been successfully incubated by Worry+Peace. Worry+Peace was the first company providing regulatory incubation specifically designed for Insurtech startups.

“I’m delighted to add Hokodo to our network - they bring in an incredible blend of tech and financial services expertise and are passionate about their mission to change the way small business insurance is distributed. I’m incredibly selective about the startups I work with, and am proud to help them get to market. What happens next is all about their brilliance”, said James York, Founder of Worry+Peace.

Hokodo, founded by Louis Carbonnier (formerly founder at the Digital Agency for Euler Hermes) and Richard Thornton (formerly CRO and COO at Aspen), boasts significant industry experience and the co-founders are known specialists in their field. Hokodo’s aim is to help small businesses access the same solutions that are only available to large companies today, thereby helping the tens of thousands of SMEs across the UK and beyond who are systemically under-insured.

“We are very pleased to join the Worry+Peace network - James has been instrumental in helping us think through both the legal and operational details of our business. His insights go far beyond just the regulatory compliance aspects, and as an technology entrepreneur himself, he speaks the same language as us. The combination of James’s business acumen and tech savviness made W+P the perfect match for Hokodo’s ambitions.“ says Richard Thornton, Co-Founder of Hokodo.

Having now received authorisation, Hokodo are in the closing stages of securing risk capacity to trade, and are building their platform in earnest. They have launched a private beta and anticipate moving into production in Q3 this year.

Worry+Peace is also set to unveil its next long-awaited major update, nicknamed “Fizzballs”. It will see the insurtech launch a new distribution platform that iterates its previous Marketplace release, and promises to offer insurance Providers across the UK an entirely fresh, new way to meet Customers.

Anyone considering founding their own Insurtech startup is welcome to contact Worry+Peace to explore how we could help you get to market.