IAG Firemark Ventures invests in flood data platform 7Analytics

IAG Firemark Ventures, the corporate venture capital arm of general insurer IAG, has invested in 7Analytics, a flood data platform.

Based in Bergen, Norway, with a U.S. headquarters in Boston, MA, 7Analytics uses advanced geoscience and machine learning to develop predictive models for floods and landslides, helping residential and commercial property insurers assess flood risk at the individual asset level.

Jonas Aas Torland, Co-founder and Chief Operating Officer of 7Analytics, 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.”

Scott Gunther, General Partner at IAG Firemark Ventures, stated, “We’ve seen first-hand the devastating impact of floods and major events on communities. As the frequency and severity of weather events continue to increase, having access to up to date information provides opportunities for insurers to help customers understand their risks and take steps to improve their resilience.”

7Analytics and Near Space Labs join IAG Firemark’s portfolio, which includes RavinAI, a company helping deliver faster claims experiences for motor customers.

Gunther added, “IAG Firemark Ventures’ purpose is to bring the outside world into 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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