Willis launches Zest Insurance, a digital revolution for Australian SMEs
- Targets large market opportunity with AUD 9 billion SME insurance market in Australia
- Addresses underserved market segment where 97% of businesses have 20 or fewer employees
- Partnership with Chubb, a world leader in insurance, for policy underwriting
- Digital platform reduces operational costs and improves efficiency through online processes
- Limited initial availability only to administration and support services industry
- Entering a market that has been slow to adopt digital insurance solutions
- Potential competition from traditional insurance providers and other digital platforms
Insights
WTW enters Australia's AUD 9B SME insurance market with digital platform Zest, potentially expanding revenue streams in underserved segment.
Willis (WTW) has launched Zest Insurance, a strategic digital platform targeting Australia's AUD 9+ billion SME insurance market. This represents a calculated move into a segment where 97% of businesses have 20 or fewer employees but has been slower to adopt digital insurance solutions compared to global markets.
The platform's architecture addresses key friction points in the traditional SME insurance journey by offering end-to-end digital processes from quotation through binding, renewal, and policy management. The initial rollout targets the administration and support services vertical - including bookkeepers, consultants, and market research firms - with policies underwritten exclusively by Chubb, a premium carrier that enhances credibility.
What makes this launch particularly noteworthy is the hybrid model combining digital convenience with on-demand broker expertise. This approach addresses the fundamental tension in SME insurance: businesses want simplification but often need guidance for complex risks. By leveraging technology while maintaining human expertise, WTW is positioning for scalable growth without sacrificing quality underwriting.
The Australian expansion represents a testing ground for WTW's digital strategy that could potentially be replicated across other markets if successful. For investors, this signals WTW's commitment to innovation and geographic diversification in commercial lines, potentially unlocking new revenue streams in previously underserved market segments.
MELBOURNE, Australia, June 18, 2025 (GLOBE NEWSWIRE) -- Willis, a WTW business (NASDAQ: WTW), today launches Zest Insurance, a cutting-edge digital insurance platform tailored specifically for small and medium enterprises (SMEs) in Australia.
Zest Insurance represents a bold step forward in the digital transformation of SME insurance. It offers a seamless, fast and intuitive online experience backed by expert broker support. Designed to meet the evolving needs of modern business owners, Zest Insurance empowers SMEs to purchase, manage and renew their insurance policies entirely online.
James Baum, Head of Pacific, WTW says: “The launch of Zest Insurance comes at a pivotal time for the Australian SME market. With
Brent Lehmann, Head of Commercial & Affinity, Pacific at Willis, adds: “SMEs are the backbone of the Australian economy, yet many still face outdated, complex processes when it comes to insurance. They increasingly demand convenience, speed and tailored insurance solutions. Zest Insurance is our answer to that challenge, bringing together digital convenience and trusted expertise in one powerful platform. It aims to make purchasing business insurance more straightforward for small business owners.”
The Australian SME market, valued at over AUD 9 billion in gross written premium, has been slower to adopt digital insurance solutions compared to global counterparts. Zest Insurance aims to close that gap by offering:
- A fully digital customer journey – from insurance quote to bind, renewal, and policy management, all conducted online.
- Industry-specific insurance solutions – with one dedicated insurer per industry to ensure tailored coverage to protect businesses.
- User-friendly design – intuitive forms and interfaces built to enhance and simplify the customer experience.
- Insurance broker support on demand – expert advice available when needed, ensuring confidence and clarity.
Zest Insurance will be available initially to businesses in the administration and support services industry, including bookkeepers, payroll services, management and marketing consultants, market research firms and more, with plans to expand industry offerings in future phases. Zest Insurance policies for this first industry will be exclusively underwritten by Chubb, a world leader in insurance.
James adds: “We’ve built Zest Insurance to be more than just a platform. It’s a new way of thinking about SME insurance. It’s about simplicity, transparency and putting the customer first. Together, we’re setting a new standard for SME insurance, starting in Australia.”
For more information, visit: www.zestinsurance.com.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.
Media contact
Clara Goh: +65 6958 2542
clara.goh@wtwco.com
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