Insurtech Australia has welcomed KPMG as a new ecosystem partner while insurtech Coverpay is a new member after a recent capital raise ahead of launching its “buy now, pay later” insurance proposition to market.

Partner and Insurance Sector Leader David Kells says KPMG is “delighted to announce that we’ve joined the Insurtech Australia Community”.

“As the sector leader at KPMG, I want to thank Insurtech Australia and its members for the ongoing focus to keep pushing the growth of our clients and look forward to working with you,” he said.

Insurtechs are helping drive a shift from legacy systems into new operating platforms, enabling “next generation” claims management and compliance, enhancing customer experiences, and developing new partnership ecosystems, KPMG says.

Mr Kells says the insurance sector represents “a major pillar of KPMG’s financial services practice”.

“We are deeply committed to supporting insurers, brokers, end customers, ecosystems partners and Insurtechs in solving some of the sector most complex challenges,” he said. “Insurtechs are at the forefront of innovation and carrying major responsibilities to disrupt the insurance sector.”