PayPal, Aon Partner to Enable Small Businesses to Shop For and Manage Insurance Online

May 6, 2022 Enterprise, FinTech and Alternative Finance, Fintech International, Fintech Services, Innovation and Resources No comments

Insurance Business America | Roxanne Libatique | May 2, 2022

Paypal - PayPal, Aon Partner to Enable Small Businesses to Shop For and Manage Insurance Online PayPal Holdings Inc. formed a partnership with Aon Plc to offer its small-business customers the ability to shop for and manage their insurance policies using the company’s digital-commerce platform. The program went live in the US on April 4, 2022.

The partnership sees PayPal adapt Aon’s CoverWallet solution to its commerce platform, allowing small business customers across the US to shop for, purchase, and manage insurance online and within a few minutes. The program also enables users to obtain personalized advice and guidance from Aon’s licensed insurance advisors.

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Roberto Pinto, president of digital client solutions at Aon said:

CoverWallet’s digital capabilities and integrating it into PayPal’s existing offering for small businesses created a unique experience that simplifies insurance access and sale for millions of merchants.

“We share PayPal’s culture of innovating on behalf of clients, and this initiative is one way we are addressing our clients’ most pressing needs,” Pinto said. “We are uniquely positioned to develop and deliver a digital solution to PayPal that will expand access to insurance for small businesses, which is often an underserved market, and ultimately help them make better decisions to grow and protect their business.”

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With the new initiative, small businesses could address some of the most persistent challenges they face with their insurance decisions – time, effort, choice, and cost. Specifically, they benefit from real-time visibility into the typical coverage and average costs for their insurance needs, a breadth of online quotes and coverage options from top carriers, and the convenience of purchasing insurance with their PayPal accounts.

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