Insurtech Evari, led by former Zurich Australia and New Zealand CEO Daniel Fogarty, has launched with an offering targeted at cafes, restaurants and small retailers.

The insurer uses a cloud-based platform, which also integrates with a business’s accounting software, to allow the enterprise to immediately update its policy at any time.

Evari says small businesses often find policies become outdated soon after they are purchased, causing either coverage gaps or payment for cover no longer required.

“We want to give businesses an insurance product that is tailored for their business and can adapt as they grow,” Mr Fogarty said.

“We are living in a digital economy and there is a significant opportunity within the sector to transform how customers interact with their insurance providers. Business customers should have the right insurance at all times and cloud technology is the key to this.”

The platform’s features include the ability to regularly monitors a business’s cloud accounting data so it can be alerted to changes that may affect the insurance cover.

Evari is being underwritten at Lloyd’s.