Clover Insurance

What Clover Insurance does

Clover Insurance Pty Ltd is an Australian insurtech underwriting agency founded in 2022 and headquartered in Sydney, operating as an Australian Financial Services Licensee (AFSL 538528) regulated by ASIC. The company distributes three core insurance products—OneBusiness Pack (SME business insurance covering building, contents, business interruption, liability, theft/money/glass, portable contents, and equipment breakdown), OneHome (home and landlord's insurance with building, contents, and optional work-from-home and hobby farm extensions), and OneMotor (combined personal and commercial motor insurance covering up to 10 vehicles per policy)—exclusively through a network of Australian insurance brokers under a B2B2C model, with no direct-to-consumer channel.

Its core technology is OnePatch, a proprietary broker-facing underwriting and policy administration platform featuring automated pricing, straight-through processing with minimal referrals, data pre-population via API integrations, sectional quoting for customisable cover, and rego lookup for motor. The platform has been iteratively enhanced since launch—expanding acceptable ANZSIC codes from 120 to 210 across three releases in 2023 and consolidating all three product lines into a single broker workflow by February 2024.

Clover generates revenue through insurance underwriting premiums collected via its broker network, retaining the spread between premiums and claims while relying on capacity providers Allied World Assurance Company (OneBusiness Pack) and Aioi Nissay Dowa/Adica (OneHome and OneMotor). Claims handling is outsourced to specialist partners Insurx and ProClaim (the latter effective from January 2025 for OneBusiness Pack). Its primary customer segments are SMEs, residential property owners and landlords, motor vehicle owners (personal and commercial), and the brokers themselves, with a flagship distribution partnership in place with RAC WA for Western Australia.

Name

Clover Insurance

Legal name

Clover Insurance Pty Ltd

Website

https://cloverinsure.com.au

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Clover Insurance is an Australian insurtech underwriting agency founded in 2022 that distributes OneBusiness Pack, OneHome, and OneMotor products exclusively through insurance brokers via its proprietary OnePatch underwriting platform.

Ownership category

akta.pro rank

Product category

Insurance Underwriting

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Small Business BOP (Main Street) (FSAJAFAA)

akta.pro secondary industry

Real Estate / Lessors Risk BOP (FSAJAFAI)

Keywords

• Insurtech underwriting agency
• SME business insurance
• Commercial motor insurance
• Landlord home insurance
• Broker underwriting platform

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Underwriting Premiums: Clover operates as an underwriting agency that issues insurance policies and collects premiums from policyholders through its broker network. Revenue is generated through the spread between premiums collected and claims paid, with reinsurance arrangements in place through its insurer partners.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Clover Insurance is an insurtech underwriting agency that issues and distributes business, home, and motor insurance products exclusively through Australian insurance brokers. Its broker portal, OnePatch, provides automated pricing, straight-through processing, and API-based data pre-population, enabling brokers to quote, bind, and administer policies with minimal referrals. The product suite comprises OneBusiness Pack (SME), OneHome (home and landlord's), and OneMotor (combined personal and commercial motor), underwritten by reinsurance partners Allied World and Adica.

Product overview

Clover Insurance is an insurtech underwriting agency offering a portfolio of insurance products through its proprietary broker platform, OnePatch. The product suite consists of three core insurance offerings: OneBusiness Pack (SME business insurance), OneHome (home and landlord's insurance), and OneMotor (combined personal and commercial motor insurance). These products blur the line between commercial and personal coverage, allowing brokers to service clients from a single platform. OnePatch serves as the central broker portal providing instant automated quoting, straight-through processing, data pre-population, and automated underwriting decisions, enabling same-quote-or-decline decisions without lengthy referral processes.

Differentiator

Problem solved

Functional benefit

Brands

• OnePatch: Clover's underwriting platform that enables brokers to quote, bind, and manage insurance policies with straight-through processing and automated pricing.
• OneBusiness Pack
• OneHome
• OneMotor

Products and services

• OnePatch Broker Platform Broker-facing underwriting and policy administration platform that enables instant quoting, straight-through processing, and automated underwriting decisions across Clover's product suite. Features data pre-population from APIs, sectional quoting for customisable cover, and minimal referrals.
• OneBusiness Pack SME business insurance product covering building and contents, business interruption, liability, theft/money/glass, portable contents, and equipment breakdown. Designed for small businesses with a combined personal and commercial offering.
• OneHome Home and landlord's insurance product available with either listed events or accidental damage coverage. Covers buildings and/or contents for owner-occupied properties, holiday homes, and rentals. Includes optional work-from-home and hobby farm extensions.
• OneMotor Combined personal and commercial motor insurance product in one PDS. Covers up to 10 vehicles per policy for both personal and business use. Offers comprehensive and third-party coverage with optional enhanced commercial vehicle coverage including signwriting, stock, tools, and equipment.

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• ProClaimcoreStrategic or Co-development Partner · 1 January 2025ProClaim provides connected claims experience for OneBusiness Pack policies effective from 1st January 2025. Handles claims for SME business insurance policies via email ([email protected]).
• RAC WA (Royal Automobile Club of Western Australia)coreChannel Partner/ Reseller/ Distributor · 9 February 2023Partnership to distribute Clover's Business Pack, Home and Motor products through RAC WA's membership network. RAC General Manager Damien Van Pelt stated the partnership enables a new approach through accessing the broker market. RAC underwrites the Clover Insurance Business Pack, Home and Motor products. This partnership brings additional capacity to the intermediated market in Western Australia.
• Allied World Assurance Company, Ltd (Australia Branch)coreOthersAllied World provides reinsurance capacity for Clover's OneBusiness Pack product. This is the underwriter for SME business insurance policies issued by Clover.
• Aioi Nissay Dowa Insurance Company Australia Pty Ltd (Adica)coreOthersAdica (MS Amlin) provides insurance capacity for Clover's OneHome and OneMotor products. The company underwrites home, landlord's, and motor insurance policies issued by Clover.
• InsurxcoreStrategic or Co-development PartnerInsurx provides connected claims experience for Clover brokers and customers. Handles claims for OneMotor and OneHome policies. Available via phone (02 8233 3187) and email ([email protected]).

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• AUB Group: ASX-listed Australian insurance broker network and underwriting agency operator. AUB's broker footprint is the primary customer base Clover targets with OnePatch, and AUB-affiliated underwriting agencies compete with Clover on broker-placed SME and personal lines.
• Steadfast Group: ASX-listed Australian insurance broker network and underwriting agency operator. Steadfast is the dominant aggregator in the intermediated channel where Clover distributes — a critical counterparty for broker relationships and a potential competitor through MGA subsidiaries.
• Insurance Australia Group (IAG): Largest Australian general insurer (NRMA, CGU, SGIO, Swann). IAG is the dominant direct carrier in property, motor and SME commercial lines that Clover writes via intermediaries, and sets competitive benchmarks on price and capacity for the entire intermediated channel.
• QBE Insurance Australia: Australian arm of global insurer QBE, a significant writer of commercial and personal P&C lines via brokers. QBE competes with Clover for broker-placed SME and motor business and is a typical alternative-capacity benchmark in the intermediated market.
• Suncorp Group: Major Australian general insurer with strong positions in motor, home and SME commercial lines distributed via brokers and direct channels. Suncorp's intermediated offerings compete head-to-head with Clover's OneMotor, OneHome and OneBusiness Pack products.
• Allianz Australia: Australian arm of global insurer Allianz SE, writing personal and commercial lines distributed through brokers. Allianz is a major capacity provider in the Australian market and a benchmark for product, pricing and underwriting standards in intermediated P&C.

Emerging players

• Open Insurance: Australian insurtech underwriting agency with a digital broker platform targeting SME and personal lines — similar early-stage, tech-led MGA positioning with broker distribution and external capacity partners.
• Honey Insurance: Australian insurtech offering streamlined home and contents insurance via an app and embedded distribution. Overlaps with Clover's OneHome product on home/landlord cover and shares a tech-first, broker/advisor-friendly intermediated GTM in Australia.

Direct peers

• Blue Zebra Insurance: Australian underwriting agency that issues commercial and personal lines via brokers with proprietary technology — operates a near-identical MGA model with capacity partners and broker-only distribution, directly comparable to Clover's three-line product suite and OnePatch workflow.
• BizCover: Australian online small-business insurance platform that enables brokers and direct customers to quote and bind SME cover quickly. Comparable technology-led, broker-friendly approach to SME insurance, though with broader direct-to-consumer reach than Clover.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/clover-insurance-australia

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Clover Insurance