Assetinsure, an Australian company authorised by the Australian Prudential Regulation Authority (APRA) to conduct general insurance business that holds an Australian financial services license, has entered an underwriting partnership with Mercurien.
Mercurien is a privately-owned Australian company focused on fleet operations and commercial motor insurance and using technology and analytics to protect people and assets in the mobile workplace.
Mercurien has further entered an in-principle agreement to invest from Lombard Australia Holdings (LAH), Assetinsure's holding company.
Mercurien founder and COO Andrew Murrie said the deal will help the company deliver insurance and risk management services to commercial motor fleets and the growing rideshare economy.
“We have built Mercurien around creating comprehensive and effective fleet services solutions for our clients,” he said.
Doug Laburn, executive general manager of risk partner at Assetinsure, said: “We aim to be at the forefront of investing in innovative, data-led insurance opportunities, and the Mercurien team's unique combination of domain experience and targeted behavioural management is a fantastic opportunity for us to help enable.”
Aside from entering a strategic partnership, Mercurien has sought to build a better broker experience through its digital sales channel.
“We recognised the challenges to doing this in a highly regulated and competitive space,” said Daniel Johnson, director and general manager of Mercurien Insurance. “The goal has been to deliver solutions that make it effective for brokers to support and deliver a great experience to clients with both our RideProtect and Commercial Motor insurance solutions.”
