An Insurtech Australia delegation participated in the ITC Asia event in Singapore last week.

CEO Simone Dossetor says conference themes included the acceleration of artificial intelligence as regulation, compliance and operating models struggle to catch up.

“AI is maturing but with an ever-widening gap between the AI-native businesses and the insurance incumbents,” she said.

“AI-native businesses are able to reimagine the role of insurance with an openness to learn and test at a speed which traditional insurers cannot even contemplate.”

Ms Dossetor says embedded insurance is growing but trust still matters and customers continue to engage human advisers for higher-value decisions.

More than 2000 participants were expected at the three-day event, which brings together insurtechs, insurers, reinsurers and investors.

Insurtech Australia members attending included Claims Gateway, Curium, Instanda, IVAA, Monvia, Simfuni and Sentro.