Insurance start-up Juniper has raised a £1.5m pre-launch investment for its reproductive healthcare insurance offering.
London-based Juniper aims to address a gap in health insurance by providing comprehensive genital insurance for all genders, ensuring easy access for companies and their employees. Its insurance will cover a range of conditions, such as polycystic ovary syndrome (PCOS), menopause, erectile dysfunction and gender dysphoria.
Juniper said: “In the UK, one in three women suffer from reproductive or gynaecological issues, while one in four men experience low testosterone by age 30.
“These statistics highlight the urgent need for accessible and inclusive health coverage solutions.”
The investment was led by Insurtech Gateway, with participation from a group of investors including, 2100 Ventures, Exceptional Ventures, and Heartfelt and a group of angel investors.
The investment will support Juniper’s growth by facilitating product development, tripling the size of its team and supporting its pilot phase with customers before its official launch. Headcount at the company could triple, with the company employing up to 10 people over the next 12-18 months
Juniper is authorised by the Financial Conduct Authority (FCA) as an appointed representative and plans to launch a pilot with customers later this year.
Juniper was founded by Ambra Zhang (pictured left) drawing from her experience in investment banking and private equity at Goldman Sachs, and her first-hand encounters with the constraints of corporate health insurance. She was diagnosed with PCOS eight years ago, and could not find insurance coverage for it.
Last year she quit her job last year to build Juniper with co-founder Sam Pratt (pictured right).
“As part of this investment, we’ll be growing our team, running a pilot phase and preparing for Juniper’s official launch,” Juniper said. The company currently has less than 10 employees.
“This is a significant step forward in our mission to bridge the gap in health insurance by providing comprehensive coverage and making reproductive healthcare access easier for companies and employees,” Juniper said via LinkedIn.
Corporate market
Juniper is targeting the corporate market its reproductive health cover, providing employees access to testing and routine check-ups, education, community support, medical reimbursement and care navigation.
It will be available to medium to large enterprise businesses looking to support their employees’ wellbeing, benefit from “hassle-free” admin, and pursue new avenues for enterprise social and governance (ESG) initiatives.
It said the European market presents a £30bn opportunity when focused on medium to large companies.
Its coverage includes various conditions and tests, encompassing contraception, sexually transmitted disease (STD) testing, endometriosis, erectile dysfunction, and reproductive organ cancer.
Juniper said that it is also to sole insurance provider to cover gender dysphoria, egg freezing, and menopause.
“Fertility issues and menopause are often not covered by employee health insurance,” it said.
“In some instances, employers offer to cover the cost of egg-freezing or fertility treatments, such as IVF, which can cost the business £15-45K.
“Unlike traditional health insurers prioritising low-frequency, high-value claims rarely used, Juniper concentrates on high-frequency claims with moderate costs, addressing an overlooked niche.”
Dental insurance for your genitals
Zhang, co-founder and CEO of Juniper, said: “I was diagnosed with polycystic ovarian syndrome (PCOS) early on, and my corporate health insurance didn’t cover it, as PCOS was classified as a chronic reproductive condition.
“So, every year, I would pay £1,000 out of pocket to see my gynaecologist and get my prescription.
“Juniper bridges this gap by providing end-to-end reproductive health support for employees and offers tailored, high-quality insurance products for employers and brokers.
“Our digital platform aims to revolutionise the insurance industry by meeting the unmet needs of the new generation.”
Ruth Polyblank, insurance strategist and advisor to Juniper, said: “Juniper is embarking on a mission to empower individuals in their reproductive health and choices.
“With a focus on inclusivity and truly comprehensive coverage, it is redefining the landscape of reproductive healthcare and closing the gaps and exclusions that exist in traditional health insurance policies.
“Juniper’s launch is a progressive step towards a future where everyone can access the insurance they need to navigate their unique reproductive health journey with confidence and dignity.”
Robert Lumley, co-founder at Insurtech Gateway, said: “When Juniper asked us to imagine dental insurance, but for your genitals, it opened our eyes to a substantial market largely ignored by traditional insurance.
“Juniper is removing the stigma surrounding reproductive health issues and enabling employers to offer comprehensive care for all employees. We are delighted to join them on this journey.”