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Wed, 19th Mar 2025

Insurance News Wrap

An episode of the Insurance News Wrap podcast, hosted by Paige Estritori, titled "Wed, 19th Mar 2025" was published on March 18, 2025.

March 18, 2025 · Insurance News Wrap

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Summary

This podcast hosted by Paige Estritori covers key happenings in the Australian insurance industry. The Australian Consumer Insurance Lobby (ACIL) proposes insurers set aside an annual $250 million budget for risk mitigation and insurance accessibility improvement, particularly in high-risk areas. This initiative complements the Insurance Council of Australia's $30 billion flood defense scheme. In another development, the Australian Financial Complaints Authority sided with QBE Insurance over a fraudulent claim, highlighting the importance of insurer accountability. The episode wraps up with an insight into the burgeoning insurtech sector despite regulatory hurdles, with 293 insurtech firms operating in Australia and New Zealand, raising $1.6 billion over 12 years. The session concludes emphasizing on sustainable business models for these companies to foster growth in the sector.

Episode Description

This podcast hosted by Paige Estritori covers key happenings in the Australian insurance industry. The Australian Consumer Insurance Lobby (ACIL) proposes insurers set aside an annual $250 million budget for risk mitigation and insurance accessibility improvement, particularly in high-risk areas. This initiative complements the Insurance Council of Australia's $30 billion flood defense scheme. In another development, the Australian Financial Complaints Authority sided with QBE Insurance over a fraudulent claim, highlighting the importance of insurer accountability. The episode wraps up with an insight into the burgeoning insurtech sector despite regulatory hurdles, with 293 insurtech firms operating in Australia and New Zealand, raising $1.6 billion over 12 years. The session concludes emphasizing on sustainable business models for these companies to foster growth in the sector.

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