Mitsui Sumitomo Insurance (MSI), a member of MS&AD Insurance Group, and digital underwriting agency Argyle Insurance, have announced a multi-year capacity agreement for a strategic partnership to elevate business insurance solutions for Australian SMEs.
This collaboration will allow Argyle to offer a business insurance package with an extended combined limit of up to A$7m ($4.5m), effective from 1 January 2025, to meet the needs of small and medium-sized enterprises in the competitive Australian general insurance market.
This new partnership is set to empower Argyle’s distribution network with advanced solutions tailored to the evolving needs of Australian SMEs, according to a statement posted on MSIG Asia’s website. Since its inception in September 2022, Argyle has made strides in delivering contemporary business insurance, working with select brokers nationwide.
Mr Tomoyuki Komagome, general manager of MSI Oceania branch, said, “By integrating our technologies in this partnership, we are creating a seamless platform for broker distribution and operations, allowing for faster analysis and improved communication. Together, we are set to drive significant advancements and establish new industry standards, unlocking significant growth opportunities.”
Mr Matthew Morgan, CEO and co-founder of Argyle, said, “This collaboration underscores our commitment to supporting SMEs in Australia through our intermediated distribution partners.”