Insurtechs in Britain are increasingly looking to do business in Australia to take advantage of more favourable free trade agreement rules.  

Britain has the highest density of insurtechs among major economies.  

Insurtech UK CEO Melissa Collett, who visited Sydney last week to deliver a keynote speech at insurtechLIVE, says there are strong ties with the Australian market and some of her members already do business here. 

“We are keen to foster closer links and collaboration between our organisations and promote the opportunities created by the UK-Australia [agreement] for digital trade, export of services and free flow of data,” she said. 

“We see some great synergies between the industry in both countries. UK insurtechs are increasingly looking to global markets for expansion. Australia is of interest given similar ties and market opportunities.’’ 

The Britain-Australia free trade agreement, effective last June, allows companies from both nations to provide insurance on additional categories of large risks, and on large risks relating to multinational corporations.  

It also allows investment firms to provide portfolio management services in either country, and makes it easier to obtain visas. 

Insurtechs and industry leaders from Australia and Britain are taking part in a series of engagements as the UK Department for Business and Trade works to deepen collaboration, trade and investment.