7Analytics develops predictive flood and landslide models using geoscience and machine learning. Near Space Labs operates stratospheric balloons to capture real-time aerial imagery, supporting disaster response efforts and improved risk modelling.
Scott Gunther, general partner at IAG Firemark Ventures, said the investments support the company’s strategy to strengthen insurance capabilities through emerging technologies.
“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,” he said.
Jonas Aas Torland, co-founder and chief operating officer of 7Analytics, said the company’s technology is designed to help communities and insurers respond to increasing climate-related risks.
“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,” he said.
Near Space Labs CEO Rema Matevosyan noted that insurers are looking for innovative ways to adapt to climate risks.
“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,” she said.
The move comes as new research indicates a rising consumer focus on disaster preparedness in Australia and New Zealand, with nearly 90% of respondents planning to take steps to protect their properties from extreme weather events.
A new study, commissioned by IAG, found that major global and local natural disasters, such as the Los Angeles wildfires and severe flooding in Australia, have increased awareness of climate risks among Australian and New Zealand homeowners.
Key findings from the research:
IAG managing director and CEO Nick Hawkins said the findings reinforce the need for collective efforts to improve community resilience.
“Events like the LA wildfires underscore the financial, social, and emotional impact of disasters on communities and how critical it is for governments, insurers, and communities to consider the lessons to be learned,” he said.
