InsurTech is the combination of insurance and technology and aims to make current insurance models more efficient. Australia’s strong financial services industry has made FinTech an already popular industry.

As a result, it comes as no surprise that in the past few years Australia’s InsurTech industry has witnessed a boom. Focused on supporting product and distribution innovation, pricing agility, smarter loss prevention as well as organisational efficiency, InsurTechs in Australia hold the key to helping incumbents accelerate their transformation to become digital insurers. Australia provides a good nurturing ground for companies looking to invest in InsurTech.