IAG Invests in Flood Data Specialist 7Analytics

IAG Firemark Ventures, the corporate venture capital arm of General Insurer IAG, has announced its investment in 7Analytics, a flood data platform. The company is based out of Bergen, Norway, with a U.S. HQ in Boston, MA.

7Analytics leverages advanced geoscience and Machine Learning to develop predictive models for floods and landslides, helping residential and commercial property insurers pinpoint flood risk at the individual asset level.

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

IAG Firemark Ventures General Partner, Scott Gunther, said, “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.”

7Anaytics and Near Space Labs join IAG’s Firemark’s portfolio of companies including RavinAI who are helping deliver a faster claims experience for motor customers. Using imagery from tow truck drivers, RavinAI has enabled IAG to reduce the cycle time for customers from claim lodgement to assessed total loss by an average of 11 days.

Scott Gunther said, “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.”