Home / Insurtech / Claim Central's Insurx secures licence under new ASIC regime
26 July 2021
Global claims solutions provider Claim Central Consolidated’s (CCC’s) third-party administration division Insurx has been granted an Australian Financial Services Licence to provide claims handling and settling services.
Group CEO and MD Eben le Roux, who took the role at the start of this month, says Insurx and property and motor repair entities Claim Central and Hello Claims will now be regulated, meaning more robust internal controls and procedures.
“We are pleased to be one of the first organisations to be successful in receiving authorisation,” he said.
The handling and settling of insurance claims was historically excluded from being a financial service under the Corporations Act, limiting the ability of regulator the Australian Securities and Investments Commission (ASIC) to intervene.
ASIC introduced new regulations last year requiring claims handling and settling service providers to hold the licence.
Mr le Roux replaced Brian Siemsen, who moved into the newly created position of Executive Director to focus on the strategic oversight of new ventures, business development and marketing and launching new technology brand Wilbur, which provides modular products in Australia, the US, New Zealand and South Africa.