Brokers have one more week to pitch their ideas to a project aiming to promote innovative business ideas and counter the threat of industry disrupters.

Concepts selected by the InsurePitch panel, conceived by Premium Funding Director Ross Hayward, will be given capital, business support and technology resources to take their idea to market.

Winners will also be able to tap into a distribution network of more than 1000 brokers and their clients, provided through the panel members.

Mr Hayward told insuranceNEWS.com.au about 40 applications had been made so far, and more are still coming through.

“It’s nice to see, and the imagination and creativity is clearly there within the industry,” he said. “But in a way, having the idea is the easy part. We have to commercialise it.

“A lot of them are system-based suggestions and there are some claims-based ideas. There are quite a few established businesses looking for distribution.

“Some have very detailed business plans and there is certainly some potential.”

The panel comprises Mr Hayward, Ebix Australia MD Leon d’Apice, PSC Insurance Group MD Paul Dwyer, Ausure MD Troy Brown, Insurance House Group MD Jay Fereday, Resilium Insurance Brokers MD Greg Arms and Hollard Group Director Richard Heilig.

To apply before October 31, click here.