Aon Partners with CoverWallet

Aon and CoverWallet announced a commercial agreement to serve clients in Australia. The parties are in the process of expanding this partnership to additional geographies, including the United States.

The current partnership provides Aon with additional access to the growing $100b small and medium enterprise (SME) digital insurance market segment, while allowing CoverWallet to expand its reach into new channels and geographies through Aon’s global capabilities and professional network. Aon will partner with CoverWallet around further technological advancements and client opportunities, and a new Aon platform powered by CoverWallet launched in Australia this month.

In conjunction with this agreement, CoverWallet received a strategic investment from Aon. Further financial details were not disclosed. The investment from Aon will add to the $40 million CoverWallet had previously raised from investors.

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

“We are thrilled to now be working with the largest and most respected risk, retirement and health solutions provider in the world. 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.” – CoverWallet’s cofounder and CEO Inaki Berenguer.