ProRisk
ProRisk is an Australian underwriting agency (MGA) offering 21 specialist insurance products to affinity, SME, and midmarket clients exclusively through insurance brokers, backed by Lloyd's, Swiss Re, and Virginia Surety, with proprietary ProBind and ClaimPro platforms enabling digital quote, bind, and claims management.
- Company typePrivate
- Founded2003
- HeadquartersRichmond, Australia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What ProRisk does
ProRisk (Professional Risk Underwriting Pty Ltd) is an Australian underwriting agency operating as a Managing General Agent (MGA), founded in 2003 and headquartered in Richmond, Melbourne, with additional offices in Sydney and Brisbane. The company underwrites and distributes 21 specialist insurance products spanning professional indemnity, management liability, association liability, cyber and privacy liability, healthcare professionals civil liability, commercial motor fleet, property, and public and products liability, primarily serving affinity groups, small-to-medium enterprises, and mid-market companies. Insurance capacity is provided by Lloyd's of London, Swiss Re Corporate Solutions, and Virginia Surety Company (a subsidiary of Assurant Inc.), with HDI Global Specialty SE backing the commercial motor fleet product.
The company's core technology consists of two proprietary platforms: ProBind, a self-service online broker trading platform launched in 2020 that enables brokers to quote, bind, and renew policies 24/7/365 with proof of insurance delivered in minutes, and ClaimPro, an online claims management platform used to handle each claim through a structured process. ProBind is central to the broker distribution model and supports configurable excess and limit options per policy. The company has no public API, SDK, or developer integration layer, and its technology is positioned around ease-of-use for the broker channel rather than data or AI-driven differentiation.
ProRisk generates revenue by underwriting insurance on behalf of capacity providers and earning underwriting commissions on premium, with policies priced and bound through the ProBind platform on a per-risk basis. Distribution is exclusively via insurance brokers; the company does not sell direct to end customers. Beyond the core insurance products, ProRisk offers embedded value-added services such as a Whistleblower Hotline, contract reviews, complimentary legal advice, and privacy policy update services, designed to deepen policyholder engagement. The firm holds an Australian Financial Services Licence, complies with the General Insurance Code of Practice and the Privacy Act 1988, and has received multiple industry awards from ANZIIF and AIIA.
ProRisk firmographics
Firmographics- Name
- ProRisk
- Legal name
- Professional Risk Underwriting Pty Ltd
- Website
- https://prorisk.com.au
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- ProRisk is an Australian underwriting agency (MGA) offering 21 specialist insurance products to affinity, SME, and midmarket clients exclusively through insurance brokers, backed by Lloyd's, Swiss Re, and Virginia Surety, with proprietary ProBind and ClaimPro platforms enabling digital quote, bind, and claims management.
- Ownership category
- akta.pro rank
ProRisk industry classification
Industry- Product category
- Specialty Insurance Underwriting
- NAICS
- Insurance Agencies and Brokerages (52421)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Mid-Market Commercial Package (Package Policies) (FSAJAFAB)
Keywords
Where ProRisk is headquartered
LocationHeadquarters
- HQ city
- Richmond
- HQ country
- Australia
- HQ region
- Oceania
Offices3 records
Markets served
ProRisk business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Insurance Underwriting Premiums: ProRisk underwrites insurance policies on behalf of Lloyd's of London and other insurers, generating revenue through premium collection. The company operates as a managing general agent (MGA) receiving capacity from insurers and earning underwriting commissions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Quote-based insurance pricing through ProBind platform |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
ProRisk product offering
Product offeringCore offering
ProRisk underwrites and distributes a multiline portfolio of 21 specialty insurance products on behalf of Lloyd's of London, Swiss Re Corporate Solutions, and Virginia Surety, targeting affinity groups, SMEs, and midmarket companies. Brokers access these products via the proprietary ProBind online platform for quote, bind, and renew, and claims are managed through the in-house ClaimPro system with a dedicated claims team.
Product overview
ProRisk is a multiline underwriting agency offering 21 different insurance products through a platform-plus-service model. The core offering consists of the proprietary ProBind online broker trading platform (for quote, bind and policy management) complemented by a portfolio of specialist insurance products including Professional Indemnity, Management Liability, Association Liability, Healthcare Professionals, Cyber & Privacy Liability, Commercial Motor Fleet, Property, and Public & Products Liability. Additional offerings include Speciality Products (automotive, consumer programs, mortgage protection) and regulatory Target Market Determinations. The product suite is backed by Australian Regulated Insurers including Lloyd's and Swiss Re Corporate Solutions. Value-added services include the ProRisk Whistleblower Hotline Service, Contract Reviews, Complimentary Legal Advice and Privacy Policy Update Services.
Differentiator
Problem solved
Functional benefit
Brands
- ProBind: ProRisk's proprietary online broker trading platform that enables brokers to get tailored quotes, bind or renew policies, and receive proof of insurance 24 hours a day, 365 days a year.
Products and services
- ProBind Online Broker Trading Platform ProRisk's proprietary online broker trading platform that enables insurance brokers to obtain tailored quotes, bind or renew policies, and receive proof of insurance in minutes, available 24/7/365.
- Association Liability Insurance Insurance policy specifically designed for incorporated associations, covering directors and officers liability, employment practices liability, employee crime, occupational health and safety exposures, pecuniary penalties, and tax audit.
- Commercial Motor Fleet Insurance Insurance specifically designed for businesses with fleets of 10 or more vehicles, backed by HDI Global Specialty SE - Australia.
- Cyber & Privacy Liability Insurance Insurance policy specifically designed to cover the cyber and privacy liability exposures of small to medium sized businesses.
- Healthcare Professionals Civil Liability Insurance Insurance policy specifically designed to meet the needs of healthcare professionals and their staff who may not be entitled to cover from the five national medical indemnity insurers for doctors.
- Management Liability Insurance for Private Companies Insurance policy specifically designed for privately owned companies, covering directors and officers, employment practices liability, employee crime, occupational health and safety exposures, pecuniary penalties, and tax audit.
- Professional Indemnity Insurance Claims made insurance policy protecting organisations that provide professional design, advice, specification, or supervision services against claims brought against them by clients or regulators.
- Property Insurance Business property insurance covering equipment and stock of small businesses (static and mobile), including fire, burglary, money, glass, and special risks.
- Public & Products Liability Insurance Insurance for Australian small businesses providing coverage for personal injury or property damage to third parties including clients, customers, and the public; also referred to as Broadform Liability Insurance or General Liability.
- Sole Traders and Partnerships Management Liability Insurance Management liability insurance designed for small businesses not structured as private companies, addressing a coverage gap for sole traders and partnerships in the Australian small business landscape.
- Speciality Products Extended product suite including speciality products across automotive, consumer programs, and mortgage and home buyer protection areas.
- Target Market Determinations Regulatory documentation prepared for each retail product distributed, required from 5 October 2021 under Australian financial services design and distribution obligations.
Quantifiable outcome
- Proof of insurance received in minutes through online ProBind platform
- +1 more outcomes
Companies that use ProRisk
Customer profileSegments5 records
Ideal customer profiles4 records
ProRisk technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
ProRisk partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Xenon UnderwritingminorXenon Underwriting is associated with ProRisk, appearing as a related entity with shared branding and contact sheets available for download.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
ProRisk competitors and assessment
Company assessmentDirect peers
- Dual Australia: Dual Australia is a Managing General Agent (MGA) platform operating across commercial lines in Australia, distributing through brokers — directly comparable to ProRisk's MGA model and broker-led distribution strategy.
- Emergence Insurance: Emergence Insurance is an Australian underwriting agency specializing in cyber and technology liability, distributing through brokers — overlapping with ProRisk's Cyber & Privacy Liability product and MGA structure.
- CHU Underwriting Agencies: CHU is a long-established Australian underwriting agency specializing in commercial strata and residential strata insurance — comparable as a multiline underwriting agency distributing specialty commercial products to a defined broker channel.
- Honan Insurance Group: Honan is an Australian insurance brokerage and underwriting agency group serving SME and midmarket clients through a digital broker platform — directly comparable to ProRisk's broker distribution model and SME/midmarket focus.
- NTI (National Transport Insurance): NTI is an Australian specialist underwriting agency focused on transport, commercial motor, and freight insurance — directly comparable to ProRisk's Commercial Motor Fleet line and specialist MGA positioning.
- Ansvar Insurance: Ansvar is an Australian specialist underwriting agency focused on commercial and niche liability lines distributed via brokers — comparable to ProRisk as a multiline specialist MGA serving brokers in defined commercial segments.
- Accident & Health International (AHI): AHI is an Australian underwriting agency specializing in accident, health, and personal accident insurance distributed through brokers — comparable to ProRisk's niche underwriting agency model and broker-led distribution in specialty lines.
- Resilium: Resilium is an Australian underwriting agency network distributing commercial lines products through brokers — directly comparable to ProRisk's MGA structure, broker distribution, and multiline commercial product approach.
Broad incumbents
- Allianz Australia: Allianz Australia is a major multi-line general insurer offering commercial package, professional indemnity, motor fleet, and cyber products across Australia — a broad incumbent whose portfolio overlaps significantly with ProRisk's multiline offerings, though Allianz underwrites on its own balance sheet.
- QBE Insurance Australia: QBE Australia is a large general insurer offering SME, midmarket, and specialty commercial lines through brokers — a broad incumbent competitor that overlaps with ProRisk's product suite and distribution channel.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
ProRisk social profiles
Digital presenceProRisk compliance and trust
Trust signalCompliance2 records
ProRisk financial estimates
Financial estimateRevenue estimate
Valuation estimate
ProRisk leadership team
Management profileNumber of profiles
Profiles9 records
ProRisk funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ProRisk M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ProRisk
What does ProRisk do?
ProRisk underwrites and distributes a multiline portfolio of 21 specialty insurance products on behalf of Lloyd's of London, Swiss Re Corporate Solutions, and Virginia Surety, targeting affinity groups, SMEs, and midmarket companies. Brokers access these products via the proprietary ProBind online platform for quote, bind, and renew, and claims are managed through the in-house ClaimPro system with a dedicated claims team.
Is ProRisk a public or private company?
ProRisk is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ProRisk founded?
ProRisk was founded in 2003. It employs 11 to 50 people.
Where is ProRisk based?
ProRisk is headquartered in Richmond, Australia, in the Oceania region.
How does ProRisk make money?
One revenue line is on record: insurance Underwriting Premiums.
Who are ProRisk's main competitors?
Direct peers on record are Dual Australia, Emergence Insurance, CHU Underwriting Agencies, Honan Insurance Group, NTI (National Transport Insurance), Ansvar Insurance, Accident & Health International (AHI) and Resilium. Broad incumbents are Allianz Australia and QBE Insurance Australia.
Does ProRisk have an API?
No public API is recorded for ProRisk.
What industry is ProRisk in?
ProRisk's product category is Specialty Insurance Underwriting. Its primary akta.pro industry code is FSAJAFAB, Mid-Market Commercial Package (Package Policies). Its NAICS code is 52421 and its SIC code is 6411.