PayPal Partners with Aon to Expand Access to Insurance for Small Businesses

Aon plc and PayPal Holdings, Inc. today announced an initiative to help millions of PayPal's small business customers in the U.S. access insurance simply and 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.

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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.

"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."

"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,"said Jim Magats, SVP, 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 is key to delivering this program."