Aon Launches Digital Cyber Insurance for Small and Middle Market Businesses

Rhea-AI Summary

Aon plc (NYSE: AON) has launched a digital insurance solution tailored for small and middle market businesses, enabling them to purchase and manage cyber and professional liability insurance online. This service caters to companies with annual revenues up to $100 million across various sectors like retail and technology. By leveraging the technology from CoverWallet, an insurtech startup acquired in January 2020, Aon enhances accessibility to cyber insurance, addressing risks such as data breaches and ransomware. The platform also offers dedicated support for clients.

Positive

• Launch of digital insurance solution for small and middle market businesses.
• Service aimed at businesses with up to $100 million in annual revenue.
• Improves accessibility to cyber insurance for various industries.
• Uses technology from CoverWallet to streamline application process.

Negative

• None.

CHICAGO, Dec. 2, 2020 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today announced the launch of a digital insurance solution for small and middle market businesses. With this new offering, businesses across a wide spectrum of industries can go through the full end-to-end process of buying and managing cyber and professional liability insurance online. They also have access to an insurance specialist to walk through the application process and coverage details.

This digital insurance solution is designed for any business generating up to $100 million in annual revenue across sectors including retail, technology, professional services, manufacturing, and more. The new offering builds on other insurance products that Aon has recently introduced to middle market businesses, providing clients with access to a seamless platform to help manage all of their insurance coverages under this offering in one place.

"As the world becomes increasingly interconnected online, cyber risks pose a growing threat to small and middle market businesses, which may have limited technology and security resources," said Christian Hoffman, CEO, Cyber Solutions North America at Aon. "With our online platform, we are making cyber insurance coverage incredibly accessible. We can also help businesses of various sizes protect themselves against risks including data breach, ransomware, contractual liability, media liability, business interruption, social engineering, and more."

By leveraging CoverWallet, the insurtech startup Aon acquired in January 2020, Aon is further expanding the solutions and services it provides to 30 million small and medium-sized U.S. businesses. New and existing clients now benefit from a dedicated team for small and middle market businesses, a user-friendly digital platform, and self-service tools.

To learn more about Aon's digital insurance solutions for small and middle market businesses, where clients can speak with a cyber specialist, or get an instant quote, please visit www.aoncover.com.

About Aon
Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

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About CoverWallet, an Aon company
CoverWallet, an Aon company, is dedicated to making commercial insurance simple, fast and convenient. With leading carriers as partners, CoverWallet helps customers around the world quickly get the insurance coverage they need so that they can get back to what matters – growing and managing their business. Powered by deep analytics, thoughtful design and state-of-the-art technology, CoverWallet is reinventing the $200 billion commercial insurance market for small and medium-sized businesses.

Media Contacts
Hally Peck
+1 646 453 4168
hally.peck@aon.com 

Matt Taylor
+1 312 783 5837
matt.taylor@aon.com

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SOURCE Aon plc

FAQ

What is Aon's new digital insurance solution launched on December 2, 2020?

Aon's new digital insurance solution allows small and middle market businesses to buy and manage cyber and professional liability insurance online.

What types of businesses can benefit from Aon's digital insurance solution?

Businesses generating up to $100 million in annual revenue across sectors like retail, technology, and manufacturing can benefit.

How does Aon's digital insurance solution enhance accessibility for clients?

The solution provides a user-friendly online platform and access to insurance specialists for support during the application process.

What risks does Aon's digital insurance solution help businesses protect against?

It helps protect against risks such as data breaches, ransomware, and business interruption.

How did Aon enhance its digital insurance offerings?

Aon leveraged technology from CoverWallet, an insurtech startup acquired in January 2020, to expand its services.