TMK in strategic agreement with Australian Insurtech firm Evari
Tokio Marine Kiln (TMK), the leading specialist and corporate insurance business, today announced a strategic agreement with Australian Insurtech firm Evari.
The agreement will allow TMK to access Evari’s digital insurance platform and on-demand products in the Australian market. The Perth-based firm has developed insurance for SMEs which directly links in to a business’ cloud accounting system and its data. This allows for automatic, ‘live’ adjustments to insurance policies according to changing financial and other information. The platform also offers clients real-time online policy management functions including endorsements, certificates of currency and claims.
Part of the agreement, which includes an investment component, furthers Evari’s plans to build and deploy digital insurances rapidly, especially on-demand products.
Tom Hoad, Head of Innovation at TMK said: “We hear lots about InsurTech and how technology is changing insurance. But we are first and foremost an insurance company that specialises in underwriting risk. So when we see young companies who have something that aligns with our expertise then we’re keen to work together. This is what makes Evari special. They understand insurance, but they also have a competitive edge and an ability to rapidly build and deploy technology. The two businesses are a natural fit.”
Daniel Fogarty, CEO of Evari said: “TMK’s underwriting expertise, their global reach and their willingness to collaborate on new products were the main attractions for us when entering in to this agreement. TMK have an enviable track record of building long-term relationships and we are delighted to be able to work together on some exciting new digital initiatives.”
ENDS
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Damian Beeley
Haggie Partners
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Richard Adams
Haggie Partners
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Colette La Pointe
Haggie Partners
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About Tokio Marine Kiln
Tokio Marine Kiln is a forward international underwriting business which operates in the Lloyd’s and Company markets. Formed in 2014 through the integration of Kiln and Tokio Marine Europe, Tokio Marine Kiln has been founded on empowered expertise and the strength of its relationships.
As part of one of the world’s largest insurance groups, Tokio Marine, we empower our people in 20 cities around the world to protect customers against complex and ever changing risks. We have four underwriting teams focused on: Property & Casualty; Marine, Aviation & Special Risks; Accident & Health; and Reinsurance, which are complemented by a first class claims team and an expert risk engineering service.
Tokio Marine Kiln benefits from exceptional financial strength with Standard & Poor’s ratings of A+ attributed to its Company platform its four managed syndicates at Lloyd’s. For more information, visit www.tokiomarinekiln.com
About Evari
Evari is an insurtech business that has developed a sophisticated digital insurance platform, and innovative ‘on demand’ products. Flexible cover is available for Australian small businesses; including cafes, restaurants, retail stores as well as tradespersons. More compelling customer propositions are in the pipeline.