PolicyStreet to expand to Australia
PolicyStreet was granted the Australian Financial Services License by the Australian Securities and Investments Commission (ASIC). The license allows PolicyStreet to provide and offer financial product advice and services for general insurance products to Australian retail and wholesale clients, marking a significant milestone in the company’s regional expansion plans.
PolicyStreet is an online insurance marketplace established in Malaysia in 2016. It has since raised over $9 million in funding.
“The opportunity to expand our operations in Australia presents a mutually beneficial relationship between the different markets we serve. Aside from bringing tailor-made insurtech solutions to a wider audience in Australia, we can better innovate and push the boundaries of insurtech within Southeast Asia by leveraging insights and data on upcoming trends from its Australian operations.” – Co-founder and Chief Executive Officer of PolicyStreet, Yen Ming.