Leading comparison service iSelect has expanded their general insurance offering to include business insurance, through a partnership with BizCover, Australia’s leading small business insurance service provider.
Mark Pangrazio, iSelect’s Head of Commercial for Health & General Insurance, said the company was thrilled to be partnering with BizCover to assist it in focusing on the SME business market.
“Business insurance, like many of iSelect’s other verticals, is a very complicated but important product. We know that many existing iSelect customers are also small business owners and we are pleased our offering can now help these customers to meet their business, as well as personal, insurance needs.”
Pangrazio said the expansion of the general insurance vertical into business insurance was a key to iSelect’s FY20 growth strategy.
“With over 2 million SMEs in Australia and with an estimated 13 per cent not insured,1 the SME market presents a significant opportunity for iSelect.”
Pangrazio said iSelect in partnership with BizCover will focus primarily on SME owners who are looking for either the convenience of managing their business insurance online or the ability to custom-tailor their cover to their specific business needs.
“Up to 75 per cent of SME owners surveyed admitted to being either dissatisfied or disloyal to their current insurer.2 Our partnership with BizCover provides iSelect with an exciting opportunity to better meet the insurance needs of Australian SMEs.”
Michael Gottlieb, BizCover CEO, added “Most SMEs will tell you they are very time poor and face significant financial challenges. To have to navigate a traditional, paper-based model of getting insured is a frustrating experience. BizCover’s purpose is to make it easy for SMEs to understand, compare and buy business insurance in minutes.”
Gottlieb added “We are delighted to be partnering with iSelect, as this partnership means even more Australian SMEs can access insurance on their terms, through their preferred channel. Together we can transform the customer experience and leverage BizCover’s technology and service to better meet the needs of SMEs.”