Insurtech Australia has launched the Global InsurTech Alliance (GITA) – a new network of organisations to facilitate global connectivity in insurance innovation, along with InsTech London (UK), InsurTech Asia and FinTechNZ.
Brenton Charnley, CEO of Insurtech Australia commented: “The development of the global insurtech eco-system with international partners reflects the rapid evolution underway for a sector little changed in over two centuries. In just a few years, there has been a rapid emergence of new technologies and Insurtech activities across the insurance value chain. As a global network of organisations dedicated to supporting insurtech, GITA will help facilitate new opportunities for Australian startups and offer enhanced collaboration opportunities to our corporate supporters.”
The organisation will form and grow a global community for insurance and technology innovation. In particular, there is intent to share and work together on industry analysis and insights, to make introductions and create opportunities for respective members and partners.
“Insurtechs’ major successes to date have largely been driven by successful partnerships between insurtechs, insurers and re-insurers,” said Charnley.
“The Global InsurTech Alliance has the potential to be a key driver of global partnerships. This initiative will support our members and partners, and we look forward collaborating with our GITA co-founders in the UK, Asia and New Zealand, as well as welcoming other insurtech ecosystem partners to the alliance.”
GITA’s founding members share an interest and representation from a broad spectrum of companies and eco system partners – including regulators and participants across the entire insurance value chain to technology providers, funding partners, start-ups and more.
George Kesselman President of the InsurTech Asia Association said, “InsurTech Asia Association and our members are excited to be among the founding members for Global InsurTech Alliance. Asia has seen a spike of insurtech activity in the past two years with major regional innovation hubs taking shape in both China and Singapore. We recognise that the true power of insurtech is in collaboration and the best innovations will scale across our ecosystems to transform global insurance industry. We look forward to taking our cross-border collaboration to the next level and building the future of insurance together.”