Insurtech Australia (IA) has selected eight delegates to head to Insurtech Connect (ITC) Asia in Singapore next month, the region’s largest gathering of insurance leaders and innovators.

The eight insurtechs are Advisr, Evari, Reask, KanopiCover, Ayla, Mapizy, Curium and Day By Day. Fifteen members had vied for the “immersion week” event, to be hosted with Austrade.

The group, which will also attend ITC Vegas in September, were selected for their readiness to address requirements in the Asian region, IA CEO Simone Dossetor tells insuranceNEWS.com.au.

“Their proposition was going to be of interest, and also we wanted a variety of members so they didn’t all have the same solutions,” she said. “There is a range of tech companies and offerings.”

They will have opportunities to pitch and to make connections with corporate insurers in the region and venture capital firms. Around 20 delegates will make up the Australian team, which will have a promotional booth. IAG’s Firemark Ventures is also sending a delegation.

There will be another opportunity to pitch for a different delegation of insurtechs to attend a trip to the UK, planned for March.

“That will probably be a different group. We will do a similar invitation to our members to pitch, and then take it down to 8 to 10,” Ms Dossetor said.

Here are details of the eight members selected for ITC Asia:

• Advisr successfully completed a seed investment round last year to internationally expand its platform, designed to provide the largest independent broker platform for SME clients.
• Evari, founded in 2016 by former local Zurich CEO Daniel Fogarty, consultant Robert Jeffery and tech entrepreneur Brack Norris, creates flexible insurance that is easy to buy and manage.
• In February, Sydney-based Reask secured its first round of capital raising with support from Chinese tech giant Tencent and other Silicon Valley investors, boosting its ambition to be a key natural catastrophe modeller using artificial intelligence.
• Hollard invested in Melbourne-based Kanopi during a $4 million fund raising last year. The data-driven insurtech connects insurers and digital platforms to best tailor insurance to individual customers.
• Mapizy uses geospatial analytics to quantify property value and risk, helping estimate accurate housing premiums, improve customer experience and notify of property changes for automated renewals.
• Curium is a claims and compliance platform that runs all claims-related operations from lodgement to reporting and payment at a fraction of the cost of traditional providers.
• Ayla automatically sync and track consumer bills, remind and facilitate bill payments, and automatically scan the market, assist with sign up and management for better insurance deals.
• Melbourne-based Day By Day says it is building the world's first insurance platform using blockchain and NFTs (Non-Fungible Tokens) to insure real world assets.