Insurtech Australia has finally launched…and what an event!
Here’s what happened
It was a full house as guests arrived early evening for the launch. As everyone eagerly awaited the start, discussions of the latest insurance and insurtech happenings could be heard throughout the room. Representatives from all facets of the Australian insurance ecosystem were present: insurtechs, insurers, advisors, investors, policy advocators, and more.
As the room quieted, Steve Raynor (COO, QBE) delivered a warm welcome followed by a few words from Danielle Szetho (CEO, FinTech Australia). After the opening remarks, CEO and Co-Founder of Insurtech Australia, Brenton Charnley, hit the stage to formally announce the launch of Insurtech Australia.
Without delay, Charnley dove right into discussing the milestones Insurtech Australia has reached since its inception in 2016, its strong team and community of partners and members, and the organisation’s objectives for the upcoming year. Charnley took a moment to remind us of how insurance has evolved over time, and what it means today.
“Whilst time has changed, insurance, or the underlying purpose, continues to survive. Yes, the technology has improved, but insurance has seen shifts due to tech before. We define insurtech as the application of technology innovation in the insurance industry value chain, to solve known challenges and discover unknown opportunities, in order to deliver value for customers.”
Insurtech Australia aims to make Australia a world leading market for insurtech innovation and investment. The insurtech and insurance industry has boomed in the last few years, and Charnley states Australia is in position to be a world leader in insurtech.
“We have the resources, the talent, and the drive to make this happen…Australia is known for being a high quality exporter, so let’s add insurtech to the mix.”
Charnley also discussed the importance of building and growing an insurtech ecosystem to support this cause, as more can be achieved by leveraging all parties in the ecosystem and working together. This ecosystem includes:
- Investors and capital
- Government and Policy
- Insurers, Reinsurers, Brokers and community
- Insurtechs, technology and the innovation ecosystem
- Advisors, support and industry bodies
With the launch thoroughly addressed, it was time for a panel discussion with a few insurtech thought leaders who are currently making waves in the industry: Naby Mariyam (Founder and CEO, Coverhero), Louise Dwyer (EGM Global Partnerships, Suncorp Group), Daniel Fogarty (Co-Founder and CEO, Evari), and Ralph Ronnenberg (Managing Director, Munich Re Australasia), facilitated by Insurtech Australia’s Partnerships Manager, Rita Yates.
The question of the hour was, “How can Australia be a world leader in insurtech?”
Incidentally, this question was asked again to the wider community of insurtechs and partners. See what they have to say here.
All in all, it was a successful launch for Insurtech Australia and we’re excited to see what the insurtech community can accomplish together this upcoming year.
What’ next for Insurtech Australia?
Insurtech Australia aims to make Australia a world leading market for insurtech innovation and investment by fostering a diverse community of insurance innovation & collaboration. As a not-for-profit organisation, it is dedicated to supporting and growing the insurtech community and advocating on behalf of its members and partners.
For 2018, Insurtech Australia will work to:
- Establish a nationwide insurtech community and increase membership
- Accelerate insurance innovation, grow insurtechs and partnerships
- Advocate on insurtech policy to help create the best regulatory environment
- Support and connect people in the ecosystem, locally and globally
In the upcoming year, Insurtech Australia will also collaborate with ANZIIF on the 2018 Insurtech Conference.
For more photos from the event, please click here.
Keen to get involved? Join the Insurtech Australia Community Group on LinkedIn here.
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