Insurtech startup Worry+Peace, billing itself as the social network for insurance, has announced that it’s set to become Peaccce.com – putting all thought of “worry” behind it. Having emerged from an insurance distribution model, the rebranding draws a line under previous activity and starts a fresh, new chapter for the venture.
Pronounced “peace” – or perhaps roared, like forwards joining a rugby scrum- the name change represents the team’s ambition for the future. A future where the centre of insurance is the buyer. Where their tools act as affordable and simple rails across which providers can fulfil promises. It is also a subtle nod to the values the startup wants to extol. They are the “3Cs of insurance” – Claims, Cover and Cost – all fundamental to the sector and its reputation. Baking them into a brand seemed an apt homage to a sector the Peaccce team hope to connect to society in a way not done before.
James York, Peaccce’s founder said: “I’ve obviously been around a while – this venture was entirely new and different. Honestly, to call it a journey would be an understatement. No longer a one man band. That’s all changed. So, I wanted us to make a statement. It’s totally unique but I wanted to retain connection to my experience.”
Peaccce are undoubtedly aware they follow a long line of tech companies making grammarians flinch – such as Dribbble, Fiverr and Tumblr. Yet all standout for their vibrancy and unique models – something the Peaccce team are surely inspired to emulate.
The rebrand follows close to £500,000 of angel investment over the course of 2021 from a number of industry titans, and continued growth of the team and technology. The startup has had an unlikely path to tech venture, having been spun out of an intermediary to focus on getting more out of a set of tools originally built to help York distribute engagement ring insurance – a brand that he exited in 2020.
“Peaccce was born, literally, during the pandemic. Looking back, obviously a lot of “worry”! That word had to go. This also cuts the ties to a brand’s insurance-selling past. I am so grateful to our great group of angels and with their continued support, helping us create heaps of value, I’m proud to be building a team of peacccekeepers. Our name is now simpler, and reassuringly relevant,” added York.
Their decision is also a matter of timing. As the site grows – with thousands of provider and product pages and new page types in the pipeline – organic “ranking” creeping onto pages of the biggest search engines offered a tantalising source of free traffic. For a growth model that aims to help the sector make better use of its often wasted marketing spend and make distribution more cost effective – to wait any longer might invite a dilemma.
Linger on the considered use of Cs this brand name and there’s a genuine care for the subject matter. Recall Peaccce’s 3Cs (Claims, Cover, Cost) – and a model underpinned by community. This is a startup operating in a sector that is obligated by compliance and dogged by complaints – one that’s far from customer centric. Cold, Calculating – or caring and compassionate? “C” seemed like the letter the industry needed at the top of its mind.
“The era of price price price is dead dead dead. The era of value is upon us – providers adopting our ecosystem as their own will gain upside by our relentless focus on helping buyers consolidate their insurance, find those who pay claims, provide good cover – and do so at a reasonable cost every year. Insurance is social, and so are we,” finished York.
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