Ensurance IT Pty Ltd was formed essentially to house our IT intellectual property and give it the flexibility to deal with third party entities including our Group at arms length. This entity is one of the most important going forward as it is providing the engine that drives our growth strategies. Initially it will provide industry new distribution methods of delivering commercial insurance products to both the Group’s Brokerage and Agency.
Ensurance IT currently earns income from its sister companies SHC and Ensurance Underwriting. These have been now commercialized with more products and Insurers being added to scale up its massive distribution opportunities. This can range from expanding the IT solutions out further into the domestic market, JV’s, white labelling and of course international markets.
Extensive research depicts that this new distribution medium that this IT delivers in Australia is easily exportable to international markets, including Europe and Asia.
Now and going forward, revenue for this company is and will be derived by forming JV’s with parties that use the software developed and owned by this company. Concept has now been proven and passed.
Commercialising and perhaps causing massive digital disruption for the Australian industry is just a step into scaling the existing IT into global relationships and JV’s.
It is this scalability that will enable the Group with its unique structure to capitalise on Australia’s $40b market and support international expansion to tap massive growth markets in the future.
Ensurance IT Disrupting the Australian Insurance Industry