Law firm Hamilton Locke and Insurtech Australia have published a guide to assist insurtechs planning to set up operations in Australia.  

The detailed overview of the Australian insurance and insurtech sectors lays out the regulatory environment, Federal Government initiatives, cross-border provision of services and upcoming reforms affecting privacy and data. 

“Fines and penalties for data breaches are now significant and the Federal Government is conducting a wholesale review of the privacy law in Australia. It is anticipated there will be major reforms in 2023 and 2024, so be aware of changes in this area of regulation,” Hamilton Locke said. 

“One of the biggest challenges for insurtechs is navigating a myriad of Australian insurance laws and regulation, so what we've tried to do is bring together all the experts in our firm across regulation, compliance, employment, capital and debt, privacy, consumer data and technology to create a definitive guide.” 

The Doing Business in Australia: A Guide for Insurtechs publication covers all legal and regulatory compliance requirements and details employment and taxation conditions and available research grants. 

Download the guide here.