In 2011, Entsia was founded on the belief that commercial insurance could be simpler, faster and far more adaptable than the systems insurers were working with.
At the time, much of the industry still relied on manual processes and siloed legacy systems. Product changes took months. Integrations were complex and expensive. Digital engagement was limited. [EC1]
Entsia set out to challenge that status quo, using modern, cloud-based technology that made it easier to design, build, manage and distribute insurance products.
To mark our 15th anniversary, we reflect on how commercial insurance has evolved and how far we’ve come.
Commercial insurance in 2011
In 2011, property, motor and liability products dominated portfolios. Cyber insurance was emerging but not mainstream and products designed to protect against the impact of climate change, for example parametric insurance or carbon credit products, were rarely discussed.
Operationally, insurers were constrained by aging legacy systems and manual processes:
- Paper-based proposal forms and manual underwriting
- Claims assessed largely in person
- Siloed legacy core systems with limited API connectivity
- Policy changes made via a letter posted to an office
- Broker-led distribution with minimal digital self-service
- Long product development cycles
Launching a new product or integrating with a new distribution channel or partner meant months, if not years, of planning and development. Innovation was slow, and customer expectations were modest. ‘Insurtech’ was only just entering the industry vocabulary.
Commercial insurance today
15 years on, the commercial insurance landscape across Australia and New Zealand has transformed.
New product types have emerged and matured. Cyber insurance is now essential for many businesses. Parametric insurance is helping to manage climate risk with fast, trigger-based payouts. Usage-based and on-demand insurance models are gaining traction, as customers and insurers seek greater flexibility and responsiveness.
Customer expectations have also shifted. Customers now demand a seamless, ‘Uber-like’ experience, where quotes happen in real-time, payments are frictionless and they can choose between providers. To meet this need, Insurtech ecosystems have formed, bringing together best of breed digital distribution channels, core platforms and data providers. Claims workflows now increasingly combine automation and AI to improve speed and accuracy.
Entsia’s journey
Entsia has grown alongside this transformation.
From a Sydney startup to a regional Insurtech partner supporting over AU$2 billion in gross written premium annually. From a focused distribution platform to a full-lifecycle insurance administration platform.
Working closely with early customers, we built a cloud-native, API-first platform that enabled insurers and agencies to distribute products efficiently, configure products with precision, and provide a great customer experience, with minimal manual intervention.
Over the past 15 years, we have:
- Expanded across Australia, New Zealand and Singapore
- Built enterprise-grade integrations with major broker platforms
- Supported complex commercial product launches for global insurers
- Enabled high-growth start-ups and MGAs to launch, scale and enter new markets with confidence
- Built our platform to meet customer needs and make it easier for insurers to take advantage of market opportunities
Most importantly, we have done this in partnership with our customers. In the past three years alone, we’ve grown our customer base by 95%.
Our customers and partners have challenged us to move faster, configure smarter and integrate deeper. That collaboration has shaped our platform and strengthened our position as a trusted Insurtech partner in APAC.
Looking Ahead
The next 15 years will demand even more.
Regulatory complexity will increase. Risk will become more dynamic. Customer expectations will continue to rise.
Our commitment remains the same: To challenge how the industry uses technology to manage, deliver and distribute insurance products, and look for better ways to get products into the hands of people who need them, when they need them.
Insurance continues to evolve.