Insurtech Australia Launch coming soon!
On Wednesday night, I was fortunate to represent Insurtech Sydney as a panelist for launch of the TAS Insurance Industry Report. The night was a wonderful success and I was lucky to join a talented panel (at Allens Law Firm) which included Shane Baker, CEO TAS, Sally Loane CEO FSC and Vanessa Dobson, Head of R&D MunichRe and moderated by the brilliant Andrew Stabback, CEO and Founder AB+F discussing the opportunities for the insurance sector in the coming 24 months.
“Innovate, or get left behind” TAS Insurance Report
The report, together with the enlightening panel discussion, explored the burning question of “Innovate or get left behind” in a faster changing insurance world.
What was clear from the evening was that the customer remains at the centre of what we do, closely followed by technology. Advances in customer experiences today can hardly be separated from their technology enablers. Customer’s are moving towards insurers who are offering not just the right products, but the right “digital” experience right through their lifecycle. To be “digital” or “innovative” is no longer a differentiator, it’s a ticket to play. And to really differentiate, means rethinking the customer problem, product and enabling technologies in unison to help the consumer “get the job done” or as noted by Sally Loane, solve customer pain points.
“Help solve customer pain points” Sally Loane, CEO FSC
Insurtech was an important element of the discussion and I was very proud to represent Insurtech Sydney and our members on this topic. Insurtech Sydney was formed in 2016 for the purpose of furthering innovation and technology in the insurance sector and we are very pleased to see it becoming a focal point of the industry.
Insurtech Australia — Coming Soon in 2017!
At the event, I also announced the soon to be formally launched national not-for-profit association Insurtech Australia. Insurtech Australia will formally establish as a division of Fintech Australia and its objective will be to “Foster Australian Insurtech” and further insurance innovation more broadly.
Insurtech Australia: “Fostering Australian Insurtech”
Insurtech Australia is the culmination of work across multiple States focussing on insurtech, particularly communities in Sydney and Melbourne. Both communities have been running very successful events over the last 18 months, bringing together not only technology startups, but also insurance industry professionals of all kinds (and seniority).
Importantly, Insurtech Australia will not just be about insurtech startups. The TAS report noted that insurance leaders indicated that partnering and collaboration with Insurtechs is top of mind and we (at Insurtech Australia) know that insurers (and re-insurers) are pivotal to the success of insurtech in Australia. Therefore, Insurtech Australia will also bring together insurers, re-insurers, advisers, startups, co-working spaces, fintech innovation hubs and suppliers to help foster and further insurtech in Australia.
Our mission: iA’s mission is to foster a diverse community of insurance innovation and collaboration, to help Australia become a world leader for Insurtech.
In the next couple of months, we formally launch Insurtech Australia and announce our Founding and General Partners, which include insurers, advisers, industry bodies, startup hubs and industry specialists, together with our objectives for FY18. So it’s a watch this space for now!
Want to get involved in Insurtech Australia?
If you are an insurer, re-insurer, insurtech or party interested in insurance and insurtech and would like to find out more about Insurtech Australia, please get in touch soon to discuss how you and your organisation can get involved.
About
Brenton is the Founder of Insurtech Sydney (founded in 2016) and Lead and Co-Founder of Insurtech Australia, both not for profit member organisations supporting the growth of the Australian Insurtech startup ecosystem and collaboration with insurers. Brenton is also the Chief Commercial Officer at ASX-listed AI Insurtech Flamingo Ventures. If you would like to support the Insurtech community, join the Melbourne and Sydney Insurtech Meetup groups and come along to our events.
