Insurtech marketplace unveils SME-focused M&A product

12 December 2022

Underwriting agency Fusion Specialty and insurtech marketplace io.insure have launched a merger and acquisition (M&A) insurance product aimed at SMEs in Australia and key markets including the US and the UK.

They say Mio is designed for businesses that are considering deals valued at between $1 million and $100 million.

According to them, the product “redefines” M&A insurance for SMEs, whose risk needs in this area remain under-served despite annual premiums of almost $US14 billion ($21 billion).

“Mio meets the otherwise neglected risk cover needs of SME buyers, sellers, advisers, and brokers with its proprietary technology and design developed specifically for the SME M&A segment,” they said in a joint statement.

io.insure’s website says Mio has been designed to make it easier for insurers and brokers to serve a far wider range of customers in the SME segment.

Fusion and io.insure are owned by Pop Holdings.