CGU and Willis Towers Watson have introduced StartUpCover, a suite of tailored solutions for entrepreneurial businesses in Australia.

It is a 50-50 joint venture, a CGU spokesman told insuranceNEWS.com.au.

The products are issued by CGU, and Willis Towers Watson receives a commission for every sale.

“StartUpCover is a recognition that start-ups have different risks and needs compared with other types of businesses,” the spokesman said. “[It] enables us to provide tailored cover to start-ups based on their unique requirements, to meet their individual needs.”

CGU says the product draws on extensive feedback from the start-up community.

“This digitally enabled solution will allow start-ups to go online at a time that suits them, to receive a quote for insurance designed for their specific needs.”

The offering is “a more personalised insurance solution, which would equip them with the knowledge and confidence to manage and mitigate the risks associated with a start-up”.

For more information about the cover, click here.