The partnership represents a first in Australia that will create greater efficiencies for new business founders.
Two fast-growing business technology disruptors have created a partnership that helps Australian startups to ‘startup fast’ and challenges traditional methods of delivering business insurance.
Honcho, a pioneering Australian online business startup service averaging 100,000 new customers per year, has teamed up with insurance tech disruptor Evari to deliver what they believe is the simplest and most streamlined small business insurance service in Australia.
Focussing on the sole trader market, insurance policies being offered will include public and product liability, professional indemnity, business disruption and stock and contents. The construction sector, cafes and restaurants, retailers and professional services are being catered to initially.
Combined with Honcho’s growing list of cloud-based services such as carrying out key business registration activities, bank account set up and important digital and marketing services, the new insurance capability helps startups by generating a quote in minutes. All policies allow small business owners the flexibility to make changes to their policy whenever they need to, all at the click of a button. Tradies can also access the unique ‘pause’ function, allowing them to save money by stopping their liability insurance when they are not working or on holiday.
Honcho co-founder Matt Pearson said: “By bringing together all of the essential functions needed by a new business, this partnership represents a first in Australia that will create greater efficiencies for new business founders so they can concentrate on developing their business, not on the back office requirements.”
Evari CEO Daniel Fogarty said: “Insurance is a necessity for every business. When starting out, it feels complicated but it needs to be actioned quickly to manage the risk to their business. We are very excited about being part of Honcho’s one-stop-shop of services. New businesses can get immediate cover and benefit from Evari’s flexible insurance, so owners can focus on what’s important: growing their business, and only pay for the insurance they use.”
Honcho has significant experience in the business start up space having started more than 400,000 small businesses in Australia. Last year the company provided solutions to 100,000 customers. Founded 10 years ago, Honcho revolutionised the online business registration process and in 2016 formed a relationship with ANZ to exclusively offer ANZ banking services to Honcho’s customers.
“We’re proud to be innovating in this space with Evari, and we’ve been doing it with registration, we’re doing it with banking and now we’re excited to be innovating with insurance so startups can more easily navigate the maze of regulatory and business critical tasks to get their business going” Pearson said.
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