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January 30, 2022 | 7:17 pm

World’s First Online M&A Insurance Marketplace Launches in Australia

Sydney, 31 January 2022io.insure, the world’s first online mergers and acquisitions (M&A) insurance marketplace for small and medium-sized business (SME) transactions, today announces it has launched in Australia.

The io.insure marketplace is designed to bridge the significant risk protection gap in the niche M&A segment for SMEs, where there is a scarcity of insurance capacity and inefficient processes within the overall M&A insurance ecosystem, which is largely focused on higher value transactions. The platform is phased to launch globally but will initially be piloted in the Australian market. Through selective existing and new partnerships with advisors, insurance brokers, accounting firms, corporate financiers and banks, io.insure will serve as an end-to-end marketplace for the M&A insurance ecosystem, which will look to fulfil the risk management needs of small business owners in Australia, private equity and venture capital firms and corporate M&A dealmakers.

io.insure’s SME M&A Insurance (SEMI©) product will initially provide insurance solutions for smaller M&A transactions with values of up to AUD 50 million, progressing to larger transactions over time. Following the launch in Australia, io.insure will soon be expanded to North America, the United Kingdom, Europe and Asia.

Working with marketplace partners globally, io.insure will provide innovative Underwriting-as-a-Service (UaaS) support for global and local insurers as well as Lloyd’s syndicates, combining M&A and specialist underwriting expertise, data & technology and distribution. io.insure can also be white-labelled by select strategic insurer and distribution partners.

The io.insure platform was created by insurance industry veterans Killian McDermott and David Rogers, as part of the POP Holdings group, a conglomerate for specialist, data & technology-enabled insurance solutions, working with some of the world’s leading insurers including Allianz, Markel, Zurich, HDI Global Specialty, Antares and Ping An. Messrs McDermott and Rogers plan to expand io.insure to new markets as well as scale into new verticals, such as in financial lines, parametric, and sustainable insurance.

There are over 2.3 million SMEs in Australia, comprising 99.8% of all businesses, employing over 70% of the workforce and contributing a third of GDP[1]. A fifth of SME owners in Australia are aged 60 and over[2], with an increasing number likely to be sold in the next decade. This represents a significant transition of capital with a sizable opportunity for a new digital insurance ecosystem built by io.insure.

Killian McDermott, Co-Founder and Executive Partner, io.insure said: “We are delighted to launch the world’s first online M&A insurance marketplace, serving a fast-growing segment of small and medium business owners in Australia and safeguarding their growth ambitions and exit strategies. As we look towards the future, there is exciting potential for other new specialty business lines that io.insure will tap into globally and we look forward to announcing these in due course.”

David Rogers, Co-Founder and Executive Partner, io.insure said: “Leveraging our industry-leading underwriting expertise and capacity, our proprietary data and technology capabilities, and partnership distribution, io.insure will provide an essential marketplace and related services for industry partners to access, analyse and protect the underserved M&A and specialty risk needs of small and medium-sized businesses in Australia and beyond.”

ENDS

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Louise Humphreys

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Lee Jingyi

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About io.insure

io.insure is the first global M&A and specialty insurance online marketplace, transforming the M&A and specialty insurance experience and filling the risk protection gap in the SME segment. The io.insure marketplace connects customers, advisors, distributors and insurer partners, supported by an exchange comprised of expert people, personalised products, and a data and technology platform, which is designed for white-labelling by partners.

For further information, please visit: https://io.insure/

 

About POP Holdings

POP Holdings is an investor in M&A and specialist, data & technology-enabled insurance businesses. POP’s mission is to support the building of a unique specialist insurance ecosystem that transforms the insurance experience for customers, through partnerships, products, services and technology.

For further information, please visit https://pop.insure/

 

 

 

[1] Australian Bureau of Statistics: Counts of Australian Businesses, including Entries and Exits

[2] ASBFEO Small Business Counts Dec 2020