Andrew joins IAG from Data61, the data innovation group created from the merger of CSIRO's Digital Productivity unit and NICTA, Australia's Information Communications Technology Research Centre of Excellence. In his role as Director New Ventures, he was responsible for building new companies from research and development projects, as well as managing the start-up portfolio.

Andrew has more than 10 years' experience working with start-up founders and investors, including co-founding the investment group Sydney Angels and accelerator program Ignition Labs. He also serves on several company boards.

'Andrew is highly regarded in the start-up and research commercialisation communities. He brings a wealth of knowledge to IAG, with significant experience in building and nurturing new businesses,' said Julie Batch, Chief Customer Officer for IAG.

'His role will be pivotal in creating new opportunities across the business through engagement with boundary-pushing entrepreneurs and start-ups, as well as research organisations.'

IAG Customer Labs is responsible for the customer experience strategy and driving product and pricing innovation through data and insights, brand architecture, marketing strategy and new business incubation and venturing.

'The creation of IAG Labs signals a clear intent to embrace new opportunities and actively shape the future of insurance, risk management and ancillary services across the organisation and its joint venture partners,' said Mr Stead.

'In an increasingly competitive market, the focus of corporate innovation investment is set to change significantly, moving towards bolder initiatives and transformational innovations. It is an exciting time to join IAG, with a great team in place and a mandate to make a difference.'

IAG - Insurance Australia Group Limited issued this content on 22 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 February 2016 04:29:19 UTC

Original Document: http://www.iag.com.au/iag-appoints-andrew-stead-key-business-development-role