International insurtechs are flocking to Australia thanks to the local market’s “attractive opportunities”.

Insurtech Australia CEO Rita Yates told insuranceNEWS.com.au that overseas firms now make up 10% of its membership.

“More and more successful international insurtechs are looking at Australia as an attractive insurance market to scale into and we are having frequent discussions with these international players who are exploring Australia as a place they are looking to grow their businesses,” she said.