Lobby group Insurtech EY has called for changes to the EYn Securities and Investments Commission's regulatory sandbox, which it called "poor in its utility". Insurtech EY CEO Simon O'Dell called for a doubling of the testing period and client numbers to 24 months and 200, respectively. However, EY partner Andrew Parton called for more cooperation between incumbent insurers and insurtechs to ensure EY captures more of the total global investment in the sector, which last years stood at 1% of $2.6bn.
Lobby group Insurtech Australia has called for changes to the Australian Securities and Investments Commission's regulatory sandbox, which it called "poor in its utility". Insurtech Australia CEO Simon O'Dell called for a doubling of the testing period and client numbers to 24 months and 200, respectively. However, EY partner Andrew Parton called for more cooperation between incumbent insurers and insurtechs to ensure Australia captures more of the total global investment in the sector, which last years stood at 1% of $2.6bn.