Melbourne-based insurtech Cinch is searching for insurance industry partners as it targets a June launch for its new technology solution.

Cinch brings all of a customer’s policy details, whether in personal lines or business, together on one easy-to-use platform.

It highlights crucial policy information, gives access to all documents and claims history, provides renewal reminders and even walks clients through the claims process.

The system saves time by using publicly accessible data where possible and never asking for the same information twice. For businesses, its machine learning systems can recommend coverage, and quotes and purchases can be obtained through the Cinch platform. Brokers can also access their clients’ information.

Cinch is powered by innovation agency BurnsRED, led by founder Warren Burns, who says three insurers have already signed up.

“The system gathers all policy information from a customer’s different insurers and puts it into one place,” Mr Burns told insuranceNEWS.com.au. “We are not a price comparison site, and we use a fee structure rather than commissions.”

Consumers or business owners give Cinch permission to access their information, and Cinch then contacts insurers to collate the documents. The insurer would pay Cinch a fee for sales made through the platform, but it will be free for the user.

Mr Burns says there are no systems of this kind available in Australia, and while some insurers have their own apps, Cinch will prevent customers having to download and maintain different platforms for all their insurers.

“We give our clients access to all their insurance products from one place in a way that helps them make informed choices on what products and services are right for them,” he said.

“We want to modernise the way people interact with their insurance products and give them a beautifully designed tool that uses machine learning to make choosing, buying and using insurance simple.

“Our aim is to build a collaborative platform that facilitates better communication between clients, risk professionals and insurers.”

To express interest in becoming a Cinch partner, email info@cinchinsurance.com.au.