Aon PLC has invested in and will work with the digital insurance market provider CoverWallet Inc. to serve small and medium-sized businesses in Australia, says Aon in a statement on Friday and adds over $ 40 million that CoverWallet has raised from investors including Zurich Insurance Group and Starr Insurance Cos.
Companies also want to expand into additional geographic areas, including the United States, and "Aon will work with CoverWallet on further technological advances and customer opportunities," the statement said.  A new Aon platform is run by CoverWallet launched in Australia this month.
"CoverWallet's innovative computer science and technology features help reinvent the insurance industry, especially in the small and medium-sized market," says Liam Caffrey, global CEO of Aon Affinity.
CoverWallet, based in New York, was founded in 201
CoverWallet was recently expanded to Switzerland with Zurich.