The insurance industry in Australia has grown multi-fold over the past few years. Yet, small scale industries or SMEs have experienced challenges in obtaining insurance quickly and easily. Buying insurance for small businesses at affordable prices is quite difficult as not all big insurers have an online service to allow customers to get quotes buy online. To solve this problem, BizCover offers an online service that simplifies the process of comparing and buying insurance for Australian Small Business Owners.
BizCover is Australia’s one of the leading online business insurance service providers and facilitates its services in New Zealand and through a sister company in the United States. Its mission is to take the hassle out of insurance for small businesses. The company aims to be the place where small businesses go to sort out their insurance needs, globally.
BizCover offers most of the insurance products commonly required by SME owners in Australia. The best part is that BizCover platform provides SMEs with multiple quotes from BizCover’s insurance partners, meaning customers are able to compare and select the insurance that suits them, all in one place and with the ability to buy online. BizCover is committed to offering competitive pricing and broad cover for the needs of small businesses.
The list of products includes:
- Public Liability Insurance
- Professional Indemnity Insurance
- Business Insurance.
- Management Liability Insurance
- Cyber Insurance
- Tax Audit Insurance
- Personal Accident Insurance
The team at BizCover provides a contestable platform, which means that clients are offered choice and, in most cases, competitive prices. The alternative is to go directly to the insurer and do the shopping, however that can be time consuming and not all insurers deal directly with customers. One can also visit a broker, who can get the quotation ready however, this is generally time consuming and can take days or even weeks to process. “BizCover will provide you with your quotes and email your policy online in minutes rather than offline and on paper and in days, like traditional brokers,” says the team at BizCover.
Simon Schwarz is Chief Financial Officer (CFO) at BizCover. He has a strong background in FinTech. and high growth businesses. His resumé includes a stint as COO prior to being Chief Operating Officer of SocietyOne, member of the advisory panel of ASX listed ZipMoney, and previously director of Vittero,Votiro, a global cyber-security business owned by ASX listed Senetas.
Day to day he is responsible for the finance and analytics functions within the business. He has been a key driver of implementing advanced analytical technologies across sales, marketing, service, compliance, and using data to grow the business in a sustainable and compliant way.
Simon has also been instrumental in driving programs that have increased the levels of governance and control within the business that will allow the business to grow sustainably. He also led the global investment process which brought onboard the AUB Group as a strategic investor and partner in the business in February 2020.
“We’ve used data analytics to track the impact of the change in market conditions on our customers and potential customers in real time,” says Simon. This means that BizCover has been able to respond effectively to assist existing customers best manage their circumstances.
The company also been able to help prospective customers to obtain the commercial insurance that they need as they adjust their businesses to the changing external environment. It has also enabled BizCover’s team to effectively forecast and create business plans to steer the business successfully through lockdown and take advantage of the subsequent bounce back of business post lockdown.
“In the long run, I envision BizCover to be the dominant provider of insurance for SME customers globally. My personal goals are to continue to lead the sustainable growth of the business towards that market position,” concludes Schwarz.