Insurtech Australia has partnered with a number of international counterparts to launch the Global InsurTech Alliance (GITA), an international network looking to facilitate global collaboration and connectivity in the insurance technology space.
With consumers time-poor, the aim is for Cove to deliver “the most intuitive mobile experience of any insurer in the world”.
Industry association Fintech Australia is today launching Insurtech Australia as a standalone division focused on representing insurtech startups and others working within the space.
InsurTech has been pinned as a growing industry thanks to claim and drone startups, although it is faced with fundamental challenges, according to a report.
California-based on-demand insurance startup Trov has raised US$45 million ($59.44 million) in a Series D round led by Munich Re / HSB Ventures, with participation from all its Series C investors, including Australia’s Suncorp Group.