Aon has established an Australian SME-dedicated digital platform in partnership with US insurtech CoverWallet.

The broker has also made a strategic investment in the start-up.

“Our partnership with CoverWallet is about the platform, which supports SME customers,” Aon Australia told insuranceNEWS.com.au.

“This is just one example of how Aon invests in the digital space to provide customer-centric, insight-led advisory services to help our clients.”

The platform runs on technology CoverWallet has built for SMEs and there are plans to expand the partnership to the US and other markets.

Aon says it will work with the insurtech on further technology advances and client opportunities.

“CoverWallet’s innovative data science and technology capabilities are helping to reinvent the insurance industry, particularly in the SME market,” Aon Global CEO Liam Caffrey said.

The SME digital insurance market is worth $US100 billion ($145 billion) globally and is set for further growth, fuelled in part by the rise of tech-driven risk offerings.

CoverWallet has partnerships with a number of major insurers including Zurich, Chubb, Hiscox, Liberty Mutual and Hanover. In the Zurich partnership, the insurer provides insurance to Swiss SMEs through the insurtech’s online platform.