IAG Firemark Ventures, the insurer’s venture capital fund, has invested in Propper, a local “proptech” start-up using technology to provide property management and maintenance services at a lower cost.

IAG says its investment in the digital platform will enhance the experience of NRMA Insurance customers and its technology de-risks property investment.

Propper customers receive access to trades at below market rates with guaranteed job quality and completion speed. For a monthly fixed fee with no lock-in contract, its Handyplan offer gives owners cover for the cost of property maintenance and repairs, and preventative maintenance like gutter cleaning and pest control.

Propper is a “proptech disruptor” and delivers a better standard of customer service than traditional models and new customer benefits, IAG says. Proptechs streamline processes in real estate, from construction and sale of property, to managing and maintaining buildings.

IAG Firemark Ventures Director Scott Gunther says the investment provides IAG with access to unique data assets and insights. The proprietary data collected via the Propper platform would help IAG engage with customers to deliver further value for their insurance needs, he said.

“We’re excited to work with the team at Propper to realise the full potential of this investment and roll out the benefits to our customers in both the short and long-term,” Mr Gunther said.

IAG’s investment will help Propper scale up its business and launch services in new markets, CEO and Founder Ash Frenken says.