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 offers a range of solutions to help small businesses manage risk, like Seller Protection, Fraud Protection and Chargeback Protection.
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. Small business owners in the U.S. are confronted with the challenge of selecting the most appropriate insurance for their business, and they may not have the time to research, shop for and purchase insurance. As a result, many of these businesses are underinsured, meaning they do not have the proper insurance coverage to fully 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 clients’ most pressing needs,” said Roberto Pinto, president of 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.”
The insurance program is live in the U.S. as of April 4, 2022. More information is available here.