Aon signs corporate partnership agreement with York Butter Factory
Entry into rapidly growing start-up community opens up new risk, brokerage, insurance and partnership opportunities
SYDNEY, 15 November, 2016 - Aon has signed a three year corporate partnership agreement with York Butter Factory (YBF). Through the deal, Aon will bring its leading risk management, brokerage and insurance capabilities to Australia’s bourgeoning technology start-up community.
The partnership forms part of Aon's strategic plan to stay ahead of the disruptive forces of the FinTech movement as start-ups continue to reshape the financial services market.
YBF is the destination point and open innovation platform for Australia's innovative technology start-ups, corporates and early-stage investors. It focuses on B2B start-ups in the areas of FinTech, Big Data & Analytics, SaaS, New Media and HealthTech.
While the agreement with YBF offers new commercial opportunities for Aon, it also presents scope to establish mutually beneficial partnerships with start-up companies and talent in the FinTech world.
Lambros Lambrou, Chief Executive Officer, Aon Risk Solutions Australia, said the partnership is a significant step for Aon, its clients and the Australian start-up community.
"We are thrilled to be collaborating with York Butter Factory, as a leader in the Australian startup ecosystem. This partnership will allow us and our clients to tap into a network of entrepreneurs and corporates as we move into the new era defined by FinTech," he said.
A recent study released by PwC estimates that by 2033 technology start-ups will contribute 4 per cent of Australia's GDP, and over half a million jobs will be created in the sector by 2033.
"No matter what stage a start-up is in, they will face challenges, just like any other business. We recognise that there is a role we can play as trusted advisors in helping these businesses manage risk they have come across or will come across in their lifecycle. We are also excited to be bringing our other key capabilities, in the areas of talent and retirement planning, to the ecosystem," Mr Lambrou said.
Stuart Richardson, co-founder of York Butter Factory commented, “We are delighted to announce the formalisation of our partnership with global risk management and insurance leader, Aon.
"Aon joins a distinguished cohort of ASX200 and Fortune1000 companies working together with YBF to support Australia's best and brightest entrepreneurs to realise their potential in global markets.
"The partnership between YBF and Aon provides Australian start-ups with the opportunity to explore and experiment with new business models with the creation, integration and distribution of new risk products."
Aon plc (NYSE:AON) is a leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world's best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information on Aon and www.aon.com/manchesterunited to learn about Aon's global and principal partnership with Manchester United.
About York Butter Factory
Established in 2011 inside a 1850s heritage-listed space, York Butter Factory (YBF) is the destination point and open innovation platform for Australia’s most innovative technology startups, corporates and early-stage investors with global ambition. Named after the original 1855 building, YBF in the heart of Melbourne’s CBD. It engages with B2B startups in the areas of FinTech, Big Data & Analytics, SaaS, New Media, and HealthTech. It currently hosts 50+ startups in its space, originated Equiem and Clover.com.au and has an extensive network of growth-stage alumni that have raised tens of millions of dollars. Amongst these, some have exited to top-tier international companies such as, Apple, Delivery Hero and BigColors to name a few.