The investment comes through Firemark Ventures, the corporate venture arm of IAG, which underwrites over $16 billion in premiums annually across leading brands like NRMA Insurance, RACV, and CGU.
Scott Gunther, General Partner at Firemark Ventures, highlights the significance of this partnership: “We’ve seen firsthand the devastating impact of floods and extreme weather events on communities. As these events become more frequent and severe, access to real-time, data-driven insights enables insurers to better support customers in understanding and mitigating their risks.”
For 7Analytics this partnership marks a major expansion from the world leading coverage in the Nordics into Australia, and crucial step towards closing the insurance gaps across the US. Our high-precision models to understand flood risk utilizing AI and Machine Learning will help insurers to build resilience facing climate-driven challenges.
“The investment allows us to scale both commercially and geographically, helping insurers and communities prepare for the future”, says Co-founder and CCO Jonas Aas Torland.
We are excited to start a new chapter in our mission to build resilient communities with data-driven insight, alongside IAG Firemark Ventures, Scale Capital, Momentum, Construct Venture, and Obos Oppstart.
Read more in Reinsurance News.
Jonas Aas Torland
CCO & Co-Founder
