Malaysian insurtech company PolicyStreet announced that it has secured the Australian Financial Services License from the Australian Securities and Investments Commission (ASIC).

The license allows PolicyStreet to offer financial product advice and services for general insurance products to Australian retail and wholesale clients.

PolicyStreet said in a statement that the new license marks a “significant milestone in the company’s regional expansion plans”.

With its expertise in personalised and technology-driven insurance solutions, PolicyStreet helps businesses customise and embed insurance as part of their offerings.

“PolicyStreet’s digital-first platform and data-driven approach to underwriting have won the trust of businesses and consumers in Southeast Asia, and we’re thrilled to expand our footprint in Australia and beyond.

 

Australia is a mature and well-regulated market, and we believe that our customer-centric approach to insurance, coupled with our digital capabilities, will resonate well with Australian customers,”

said Yen Ming, Co-founder and Chief Executive Officer of PolicyStreet.