Lockton Australia has introduced ‘Lockton Pulse’, a new digital platform aimed at providing insurance solutions for small and medium-sized enterprises (SMEs) and individual customers.
The platform, developed in partnership with Insurtech firm Kanopi, allows users to obtain quotes and purchase insurance online, with an initial focus on the retirement living sector. It also aims to simplify the insurance experience while extending access to risk management services typically reserved for larger organisations.
Additional products are expected to follow within the next year.
Paul Marsden, CEO of Lockton Pacific, explained the rationale behind the launch: “We needed a differentiated proposition for Lockton against industry peers who might be hamstrung by complex legacy systems or outdated propositions that do not resonate with insurance buyers in 2024.” He also highlighted the platform’s ability to address new and fast-changing risks, adding that Lockton Pulse enables the company to meet customer needs more effectively.
Lockton has also partnered with the Retirement Living Council to distribute a contents insurance product tailored for residents of retirement communities. Tanya Dasgupta, Head of Lockton Pulse – Affinity & Digital Solutions, said, “Lockton Pulse is a natural extension of our long-standing mission to empower and help protect businesses and individuals.”
The platform also offers features such as automatic renewals, claims reporting, and coverage updates, aiming to streamline the insurance process for users. Marsden further noted that “SMEs are the heartbeat of our economy,” and that the launch of Lockton Pulse reflects the company’s commitment to supporting this vital sector.
