end-to-end marketplace for the M&A insurance ecosystem, addressing the risk management requirements of small business owners in Australia, private equity and venture capital firms, and corporate M&A dealmakers.
SME M&A Insurance (SEMI) product of io.insure will first cover smaller M&A transactions valued up to A$50 million ($35 million), gradually expanding to bigger transactions. The platform will be first launched in the Australian market. After its debut in the Australian market, io.insure is set to enter into North America, the United Kingdom, Europe, and Asia in the coming months. io.insure will offer innovative Underwriting-as-a-Service (UaaS) support to international and regional insurers, as well as Lloyd’s syndicates, by merging M&A and specialty underwriting expertise, data and technology, and distribution.
The io.insure platform was founded by insurance industry pioneers Killian McDermott and David Rogers under the POP Holdings group, which is a conglomerate focused on specialist, data-driven and technology-enabled insurance solutions. The POP Holdings group collaborates with some of the top insurers of the world, such as Allianz, Markel, Zurich, HDI Global Specialty, Antares, and Ping An.
Australia has over 2.3 million SMEs, accounting for 99.8 percent of all businesses, providing employment opportunities for more than 70% of the workforce and contributing one-third of GDP. In Australia, one-fifth of SME owners are 60 years or older, with a large number of businesses likely to be sold in the coming decade. This represents a major capital transfer with a sizable opportunity for io.insure’s latest online insurance ecosystem.
