Underwriting agency Blue Zebra has launched a new SME business insurance product on the Steadfast Client Trading Platform (SCTP).

Blue Zebra MD and co-founder Colin Fagen told insuranceNEWS.com.au that the move gives Steadfast brokers access to the innovative and expanded product.

“We’ve expanded our industries and risk appetite so we can cover more than 80% of potential small businesses in Australia,” he said.

Mr Fagen says Blue Zebra is the only SCTP participant offering monthly instalment billing for commercial products.

“There is no extra charge for that piece of innovation,” he said. “We look forward to introducing new innovations for brokers in the future.”

Mr Fagen says Blue Zebra, which is backed by capacity provider Youi, continues to expand its presence in the Australian market, with agencies proving to be “more nimble, more innovative and more service-oriented".

The agency was launched five years ago and now handles about $240 million in annual premium. It has grown by more than 30% in the past year.