CoverWallet, Aon enter Australian partnership

Aon plc has entered an agreement with insurtech CoverWallet to serve Australian commercial insurance customers. The companies plan to extend this to the U.S. as well.

Aon is looking for additional growth opportunities within the small and medium enterprise market, which it values at $100 billion.

di-aon-stock-030619.jpg
Aon Corp. signage is displayed at the company's office in Montreal, Quebec. Photographer: Brent Lewin/Bloomberg

Liam Caffrey, Global CEO, Aon Affinity shared, "CoverWallet's innovative data science and technology capabilities are helping to reinvent the insurance industry, particularly in the SME market.” Caffrey continued to say, "We are excited to partner with their team and collaborate on client engagements in this fast-growing segment."

Further technological advancements are coming from the CoverWallet partnership, which includes a strategic investment by Aon -- terms of which were not disclosed.

"Partnering with Aon brings a wealth of experience, credibility, and strategic thinking that complements our approach, and it helps accelerate our growth even faster, enabling us to reach and delight more customers,” says Inaki Berenguer, CEO and Co-Founder of CoverWallet.

For reprint and licensing requests for this article, click here.