Zurich Insurance Group has teamed with CoverWallet to launch a new SME insurance platform in Switzerland.
This will mark the second European country where this online insurance platform will be available, having already launched in Spain last year.
The new platform is powered by CoverWallet and offers Zurich’s insurance policies to SMEs, who will be able to receive real-time quotes, purchase insurance, and manage their policies digitally.
US-based CoverWallet provides a range of business insurance solutions, including general liability, worker compensation, business owner’s policy, commercial property, commercial auto, and umbrella insurance policies, among others.
Switzerland Zurich Insurance CEO Juan Beer said, “Thanks to the partnership with CoverWallet, we offer small businesses a new type of easy-to-deal with online insurance coverage. Our target group are micro-enterprises and startups, which usually lack the time and resources to deal with the topic of insurance protection.”
Zurich Insurance invested into CoverWallet last year, picking up a minority stake in the company. The funding was earmarked to support European expansion of the CoverWallet solution.
CoverWallet CEO and co-founder Inaki Berenguer said, “Zurich is one of the most renowned insurance companies in the world, and our partnership underscores the value they see in making small business insurance available online. The partnership in Spain exceeded our goals, and we are excited to expand into additional countries to make insurance easier for businesses around the world.”
Late last year, CoverWallet launched a dedicated platform for insurance agents, giving them instant quotes, online bindable policies and real-time proof of coverage.
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