IAG Firemark Ventures Adds Near Space Labs, 7Analytics

IAG Firemark Ventures, the corporate venture capital arm of General Insurer IAG, today announced its investments in 7Analytics and Near Space Labs, two leading innovators in their respective fields that will help build more resilient communities.

7Analytics and Near Space Labs join 25 portfolio companies collaborating with IAG Firemark Ventures to help transform the future of insurance delivery.

7Analytics leverages advanced geoscience and Machine Learning to develop predictive models for floods and landslides, helping residential and commercial property insurers pinpoint flood risk at the individual asset level.

Near Space Labs uses stratospheric balloons to capture high-altitude aerial imagery and data for multiple industries. As the frequency and severity of weather events continues to increase, having access to up to date information provides opportunities for insurers to help customers understand their risk and take steps to improve resilience, while providing valuable insights for insurance policy pricing and enabling disaster response.

7Analytics Co-founder and Chief Operating Officer, Jonas Aas Torland said, "In recent years we have seen intense precipitation impact entirely new areas and our platform assumes the next big event could happen anywhere. This investment from Firemark Ventures will help our company accelerate, scaling both commercially and geographically."

Near Space Labs CEO Rema Matevosyan said "IAG Firemark leads from the front by investing in technology that has the potential to help the insurance market adapt to and mitigate the impacts of climate change. By partnering with Firemark Ventures, we will gain valuable insights, expertise and resources that can help us enhance our operations, expand our reach and better serve our customers."

We've seen the devastating impact of floods and major events on communities. As the frequency and severity of weather events increase, having access to up to date information provides opportunities for insurers to help customers understand their risks

Scott Gunther

IAG Firemark Ventures General Partner

7Anaytics and Near Space Labs join IAG's Firemark's portfolio of companies including RavinAI who are helping deliver a faster claims experience for motor customers. Using imagery from tow truck drivers, RavinAI has enabled IAG to reduce the cycle time for customers from claim lodgement to assessed total loss by an average of 11 days.

Scott Gunther said, "IAG Firemark Ventures' purpose is to bring the outside world in to IAG, by investing and partnering with startups to transform how we deliver insurance. We have a proven record of successfully connecting our startup portfolio companies with our business to deliver on our purpose. We are thrilled to see what these global leaders in their categories can do for the Australian and New Zealand insurance market in 2025."

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