Marsh is the newest Platinum Partner at Insurtech Australia (IA) as the brokerage says the country is quickly “earning its stripes” as a centralised tech hub.

Marsh says it seeks to drive innovation and collaboration with insurtechs to help navigate the “seismic shifts businesses face”.

“Our client needs and expectations are changing and they will continue to do so, possibly at an even more rapid pace,” Marsh Pacific Head of Growth and Digital Johannes-Daniel Veldsman said.

“We see our partnership with the Insurtech Australia member and partner community as a way to further support our clients’ evolution and promote possibility in this exciting sector.”

Insurtech Australia – which recently welcomed Swiss Re and KPMG as partners – says Hillridge Technology, Procuret and Umbrella Ventures became new members in November, while Compliance Advocacy Solutions, which offers compliance services to insurtechs and is led by industry veteran Paul Muir, signed up as ecosystem partner.

Hillridge’s platform helps farmers buy affordable weather insurance against risks local insurers may not cover such as drought, frost, heat and too much rain. It launched with Marsh, Mitsui Sumitomo Insurance and Nutrien in Australia in 2021.

Procuret provides Buy Now Pay Later for Business Insurance.

Umbrella Ventures develops insurance product lines via connected insurance products and blockchain to establish new responsive, price competitive insurance entities.