Aon acquires Coverwallet
Aon has acquired the insurtech CoverWallet. Terms of the deal were not disclosed.
CoverWallet, which joins the New Ventures group within Aon, is a distribution platform for small and medium-sized business insurance. Acquiring it gives Aon access to that market, while giving the broker a headstart in digital customer experience and analytics.
Greg Case, CEO of Aon shared, "CoverWallet's culture of innovation is transforming the insurance landscape, and together we have the opportunity to further strengthen and expand the application of their digital client experience.”
Inaki Berenguer, CEO and Co-Founder of CoverWallet, adds, “Aon's shared vision means we can continue pushing the boundaries of innovation into new markets and new products at a greater scale."
The deal is expected to close in the first quarter of next year, at which point CoverWallet will go to market as CoverWallet, an Aon company.