IAG has entered into a new joint venture to nurture “climatetech” insurance startups. 

IAG Firemark Ventures will encourage collaboration to support solutions that help insurers achieve their global energy, environmental and sustainability goals.  

It will work with the International ClimateTech Centre to help insurtechs scale and meet climate and environmental goals. The centre works on sustainable, technological solutions to climate change in urban landscapes.  

It was launched by Jerusalem Venture Partners (JVP) and Margalit Startup City, in partnership with Mini and Urban-X, in September. The accelerator program has so far attracted more than 500 startups from the US, Europe, and Israel, including tech unicorn Earnix, AI-driven pest control in agriculture startup Greeneye, and early forest fire detector Dryad. 

“We are delighted to have IAG Firemark Ventures as our partner as we explore new technologies globally in the US, Israel and Australia,” JVP and Margalit Founder and Chairman Erel Margalit said.  

“These advancements can bring innovative solutions and frameworks to meet the evolving demands of climate change”. 

IAG Firemark Ventures General Partner Scott Gunther says climatetech is a key startup investment focus area for the future, and AI predictions and analytics are becoming “paramount” to address new climate risks and uncertainties that directly impact the insurance industry. 

“As an insurer, we see first-hand the impact climate change is having on our customers, communities, business and our industry,” he said.  

“We look forward to working with the International ClimateTech Centre to help climatetech startups’ scale to help deliver on our climate and environmental goals.”