Australian Insurance lagging behind in the Insurtech space

This report explores the investments that large Australian general insurance businesses have made in the digital and insurtech market. It considers their contrasting approaches to those investments, highlighting that local players have been significantly slower than global counterparts. While the three largest ANZ groups have collectively invested $A29mn since 2015, global parent Allianz SE alone has invested over $A350mn, establishing a clear gap in digital transformation strategies between local and international insurance providers.