IAG invests in global insurtech platform Planck

IAG’s corporate venture capital arm, IAG Firemark Ventures, has invested in global insurtech platform Planck.

The insurtech provides real-time answers to underwriting questions for the global commercial insurance industry.

Why did IAG invest in Planck?

The investment aims to support Planck’s global expansion into the Australian and New Zealand commercial insurance market and embed the company’s technology in IAG’s brands: CGU and NRMA Insurance.

IAG Firemark Ventures general partner Scott Gunther commented that the investment is part of the insurer’s ongoing commitment to innovation and technology.

“Planck’s proven technology and demonstrated success with other global insurance carriers could also potentially provide IAG with real-time risk insights that could revolutionize our underwriting processes and drive efficiency for our business,” Gunther said. “Having a better understanding of our customers’ risks will lead to improved insurance and risk solutions for commercial customers in our markets.”