“Not only do we support members’ career development and industry involvement, this new arrangement now allows us to better support their critical business needs, too,” he said.

The partnership provides a balance of capability across the SMSF Association’s various member segments.

Numerisk, an insurance and risk adviser, provides data-driven insights and solutions and focuses on niche industry segments, including financial planners and more complex clients with challenging risk profiles.

BizCover offers a specialised insurance service for Australia’s SME professionals, providing coverage tailored to the unique risks faced by their industries. BizCover has more than 240,000 SMEs covered on its platform, including more than 9,500 accounting, tax and bookkeeping professionals.

Dan Littledyke, BizCover’s national partnerships manager, said the purpose of the offer is to “provide a better breadth of coverage and greater access to more insurers for SMSF Association’s members”.

“Our goal is for BizCover and Numerisk to work together to benefit the unique insurance needs of SMSF Association members. Drawing on Numerisk’s specialisation in financial planning and our experience with accountants and tax agents, we can offer a great experience with leading insurance rates for all SMSF Association’s members, not just one particular segment,” Littledyke said.

Richard Silberman, managing director at Numerisk, said that working with the SMSFA has been “a real privilege, and the opportunity to be part of such a high-quality association offering is incredibly exciting”.

“We are focused on developing unique data products and insights for insurers that complement our insurance broking offering to the benefit of members,” he said.

“Coupled with the immense capabilities of BizCover and the very close relationship fostered between organisations, we are uniquely positioned to bring something very different to members of the SMSF.”