Aon and Paypal to Expand Access to Insurance for Small Businesses

Aon plc and PayPal today announced an initiative to help millions of PayPal’s small business customers in the U.S. access insurance simply quickly. The unique digital insurance program will enable PayPal’s small business customers in the U.S. to shop for, purchase and manage insurance coverage through Aon’s CoverWallet solution on the PayPal Commerce Platform, online and in minutes. Customers can also obtain personalized advice and guidance from Aon’s licensed insurance advisors.

PayPal already provides a variety of solutions that can help small businesses manage risks, such as Seller Protection, Fraud Protection and Chargeback Protection (Terms apply. Fees may apply. By working with Aon, PayPal will be able to provide its small business customers with streamlined access to small business insurance via Aon’s CoverWallet solution on the PayPal Commerce Platform. American small business owners are faced with the difficult task of choosing the best insurance for their businesses. Many of these small businesses are not properly insured, which means they don’t have enough insurance to protect their business. This new initiative is designed to address some of the most persistent challenges small businesses face with their insurance decisions — time, effort, choice and cost.

“We share PayPal’s culture of innovating on behalf of clients and this initiative is one way we are addressing our client’s most pressing needs,”  Roberto PintoPresident, Digital Client Solutions at Aon. “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. By bringing together CoverWallet’s digital capabilities and integrating it into PayPal’s existing offering for small businesses, we have created a unique experience that simplifies accessing and obtaining insurance for millions of merchants.”

PayPal’s small business customers in the U.S. will 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 via Aon’s CoverWallet solution.

“This is a challenging time for small businesses and this initiative can help make it easier for PayPal’s small business customers to access a range of insurance solutions to help keep their businesses protected,”  Jim MagatsSVP Payments and SMB Solutions. PayPal. “The program moves forward PayPal’s mission to democratize access to the digital payments and commerce solutions small businesses need to manage their end-to-end business, including managing risk and protecting their finances. Aon’s digital capabilities, risk expertise, insurance carrier relationships and ability to deliver new solutions tailored to our specific small business customers are key to delivering this program.”

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