IAG to expand innovation policy with corporate venturing arm

Feb 17, 2016 • Robert Lavine

Insurance Australia Group aims to set up a direct investment unit that will operate under its innovation division, IAG Ventures.

Australia-based insurance firm Insurance Australia Group (IAG) intends to form a corporate venturing fund that will operate through its IAG Ventures innovation unit, The Sydney Moring Herald reported on Monday.

IAG Ventures was created in 2014 and interacts with startups to create new insurance models that operate as joint ventures, but the new fund will seek to make strategic investments. IAG is yet to finalise the fund’s investment model or how much capital it will commit, but hopes to do…

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