IAG’s corporate venture capital fund Firemark Ventures has partnered with non-profit innovation platform Insurtech Hub Munich (ITHM).

ITHM says it unites international insurance and cross-industry partners, startups, investors,

academia and governmental entities, and is on a "quest to make the industry future-proof”.

"The partnership with IAG helps further position ITHM at the forefront of insurance innovation on a global level,” said ITHM Chairman Tom Van den Brulle, who is also Global Head of Innovation at Munich Re.

ITHM guides founders through a variety of programs every year, connecting them with industry decision-makers, experts, mentors and investors, creating opportunities with insurance and technology leaders.

"We are excited about exploring the opportunities within the startup ecosystems from Germany and Europe, and also sharing our Firemark Collective innovation and venturing insights and knowledge back with ITHM partners and members,” Firemark Ventures General Partner Scott Gunther said.

The Firemark Collective has innovation hubs in Sydney, Melbourne, Singapore and Auckland which identify, incubate and invest in initiatives beyond IAG’s core insurance business. Established in 2016, Firemark Ventures has made 44 investments across 22 portfolio companies and embedded 14 new technology and data capabilities within IAG.