Aon and Walbing plan strategic partnership

The insurance group and the Hamburg-based fintech want to build a marketplace for syndicated trade credit insurance.

Fintech Walbing and Aon announced today that they are entering into a strategic partnership. In future, customers who want to secure a transaction with trade credit insurance are to receive a quote for potential insurance cover directly via a jointly operated new marketplace. The respective contract will then be concluded via One Underwriting Agency GmbH (an Aon Group company).

"In the midst of the coronavirus pandemic, more and more insurers have withdrawn from trade credit insurance or significantly reduced their lines. Together with Aon, we want to use a digital syndication process to ensure that trade credit insurance no longer becomes a bottleneck for international supply chains," explains Jörg Hörster, founder and CEO of Walbing.

The Hamburg-based fintech Walbing has been around since 2019 and primarily operates a software platform that gives customers access to a marketplace for receivables and syndicated trade credit insurance. Walbing also offers interfaces to its own software platform, which can be used to integrate financial, payment and insurance services into external marketplaces and solutions from eCommerce and SaaS providers.