Global re/insurance brokerage Aon and US-based insurtech CoverWallet have entered into a partnership that will see the two companies work together in the SME-space in Australia.
In conjunction with this agreement, CoverWallet has received a strategic investment from Aon.
Moving forward, Aon will partner with CoverWallet on furthering technological advancements and client opportunities.
Additionally, a new Aon platform powered by CoverWallet launched in Australia this month.
The partnership provides Aon access to the growing SME digital insurance market, while allowing CoverWallet to expand its reach into new channels and geographies.
“CoverWallet’s innovative data science and technology capabilities are helping to reinvent the insurance industry, particularly in the SME market,” said Liam Caffrey, Global Chief Executive Officer, Aon Affinity.
“We are excited to partner with their team and collaborate on client engagements in this fast-growing segment.”
Both companies are in the process of expanding this partnership to additional geographies, including the US.
CoverWallet has strategic partnerships with top insurance companies, which include Chubb, CNA, Starr, Guard, Zurich, Hiscox, Liberty Mutual, and The Hanover, among others.
“We are thrilled to now be working with the largest and most respected risk, retirement and health solutions provider in the world,” said Inaki Berenguer, CEO and Co-Founder of CoverWallet.
“Partnering with Aon brings a wealth of experience, credibility, and strategic thinking that complements our coverapproach, and it helps accelerate our growth even faster, enabling us to reach and delight more customers.