Sydney, Australia — Lockton, the world’s largest privately-owned insurance brokerage, has unveiled Lockton Pulse, a pioneering digital insurance platform aimed at small and medium-sized enterprises (SMEs) and individual consumers across Australia.
This launch addresses the increasing demand for expedited and user-friendly insurance solutions tailored specifically to the needs of smaller businesses and individuals. As traditional insurance models grapple with outdated processes, Lockton seeks to provide a nimble alternative that adapts to evolving risks and customer expectations.
Lockton Pulse enables users to quickly obtain quotes and purchase insurance online from any location, streamlining the insurance process. The platform, powered by Kanopi’s cutting-edge InsurTech technology, features a simplified interface for effective risk management.
In a significant shift, Lockton Pulse offers access to customized risk advisory services, which were previously available only to high-profile clients, now extending these resources to SMEs and individual users.
The platform will initially focus on the retirement living sector, delivering comprehensive insurance solutions specifically designed for residents. This launch is part of Lockton’s broader strategy to enhance its direct-to-consumer distribution, with plans to roll out a variety of digital products over the coming year.
As part of the initiative, Lockton has collaborated with the Retirement Living Council to introduce a specialized Retirement Living Residents Contents Insurance product, a key component of the new digital offering.
Paul Marsden, CEO of Lockton Pacific, emphasized the necessity of agility in today’s competitive landscape. “We needed a differentiated proposition for Lockton against industry peers who may be hindered by complex legacy systems or outdated offerings that do not resonate with insurance buyers in 2024. Lockton Pulse embodies the entrepreneurial spirit of Lockton and the organizations we can help protect and grow together,” he stated.
Tanya Dasgupta, Head of Lockton Pulse – Affinity & Digital Solutions, noted, “Lockton Pulse is a natural extension of our long-standing mission to empower and protect businesses and individuals.” She underscored the platform’s combination of advanced technology and local Australian support, which together facilitate seamless insurance solutions.
Nigel Fellowes-Freeman, founder and CEO of Kanopi, expressed enthusiasm for the collaboration, stating, “We’re thrilled to partner with Lockton on this groundbreaking digital offering, marking a transformative journey with immense potential.”
Lockton Pulse also features automatic renewals, claim reporting, and downloadable certificates of currency, enhancing both operational efficiency and customer satisfaction. This development represents a significant advancement in Lockton’s service offerings, allowing SMEs and individual clients to manage their insurance needs more effectively.
