Insurance Australia : IAG makes strategic investment in Spacecube’s rapid deploy accommodation

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Innovation news IAG makes strategic investment in Spacecube's rapid deploy accommodation 22 June, 2026 1 Share this story: Firemark Ventures, the corporate venture capital arm of general insurer IAG, today announced a strategic investment in Spacecube, a Melbourne-based modular building company capable of delivering rapid emergency accommodation to regional areas following floods, bushfires, storms, and other disasters. This investment follows IAG's successful pilot deployment of Spacecube units in regional Victoria after the devastating January 2026 bushfires, where the structures enabled multiple families to remain on their properties while rebuilding and stay within their community. Under a new partnership with IAG and its brands including NRMA Insurance, CGU, WFI Insurance and RACV, Spacecube's modular building system has the potential to become a part of the insurer's disaster response across rural and regional Australia. CEO of CGU and WFI Insurance Jarrod Hill said that when extreme weather events displace families, immediate shelter is one of the most urgent needs. "Spacecube has the potential to enable rapid deployment of on-property accommodation, delivering essential support to rural communities when it matters most," Mr Hill said. Remaining on the land enables people to care for livestock, stay connected to their community and avoids the disruption of relocation. With limited accommodation in nearby towns after large-scale disasters, on-site solutions can reduce pressure on already stretched local resources. Many rural homes also serve as workplaces - farms, workshops and small businesses - so remaining on the property can help in maintaining operations and minimising financial loss. Families can continue daily routines, keep children in the same school, and stay close to essential support networks. Jarrod Hill CEO of CGU and WFI Insurance While the pilot program has initially focused on supporting rural and regional customers, IAG will explore opportunities where Spacecube could be used in urban settings and commercial applications where appropriate. The model could also be extended to New Zealand, subject to future development. Rapid accommodation that keeps people on their land Spacecube's flat-packable, transport-ready structures can be delivered quickly and assembled in hours, even in challenging environments. The system's modular design allows units to be configured for a wide range of needs and erected on almost any terrain. Each accommodation unit is self-sufficient, able to operate even when local utilities are down. They can connect to existing rainwater and septic systems, and can be equipped with battery storage and integrated solar generation, ensuring reliable, off-grid power. Modules can be deployed as standalone units with dedicated sleeping, living and wet areas, or adapted to integrate with partially damaged homes where some rooms remain habitable. The flexibility allows response teams to tailor setups to the specific needs of individual properties and communities. Built for urgent, high-pressure environments Spacecube CEO Mark Davies said: "Our modular technology was built for rapid deployment in complex conditions. "Working with organisations like IAG means we can help deliver not just structures, but stability, safety and dignity for communities recovering from disaster. Keeping people in their community is essential to improving the recovery process. "We're proud to have supported IAG's customers in Victoria and proven how Spacecube performs under real-world pressure." Strengthening a holistic disaster-response ecosystem Firemark Ventures General Partner Scott Gunther said, "This latest investment by Firemark Ventures expands our deliberately constructed disaster-resilience portfolio that spans prediction, detection, assessment and now rapid on-property recovery. "It builds on recent investments in 7Analytics, which provides advanced geoscience-driven flood and landslide prediction models for pinpointing asset-level risk, and Near Space Labs, which delivers high-frequency aerial imagery via stratospheric balloons to support rapid damage assessment and situational awareness. "These investments strengthen IAG's ability to anticipate hazards, detect emerging threats, respond decisively, and help customers recover faster. "By investing across the full disaster lifecycle - before, during and after severe weather events - Firemark Ventures is building a cohesive resilience ecosystem and advances IAG's strategy to make Australia safer and more resilient in the face of escalating climate impacts." Tags Ventures Investments Strategic relationships Share this story: Media enquiries Contact IAG media team Related stories 12 May, 2026 Company news IAG unveils its Ambition 2030 refreshed strategy Strategy Financial Performance 23 February, 2026 Company news IAG Group Leadership Team update Financial Performance 12 February, 2026 Company news IAG Half Year 2026 Results Financial Performance

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