IAG lures Data61 exec to UX, data business

IAG has lured former Data61 executive Andrew Stead to its customer innovation function, to help the company develop new partnerships with insurance tech start-ups. 

Stead joined the insurer last month from Data61, the digital innovation unit formed from the merger of NICTA and the CSIRO's digital productivity unit.

He had spent two-and-a-half years at NICTA as a director of new ventures, charged with commercialising R&D projects, before leaving at the end of last year.

Stead also has more than 10 years' experience in the start-up space, co-founding accelerator program Ignition Labs and start-up investor program Sydney Angels.

IAG said Stead's experience would be "pivotal" in creating new opportunities for IAG with "boundary-pushing enterpreneurs and start-ups". 

Stead will join the newly-created Customer Labs division, which was borne out of a restructure in December last year.

The division focuses on customer experience and products through data and insights, and also handles new business incubations.

The December restructure saw IAG's operations split into two segments, consumer and business, which are supported by three divisions covering customer experience, technology and operations.

Former chief analytics officer Julie Batch took over leadership of Customer Labs as chief customer officer.

Stead said IAG had a clear intent to "embrace new opportunities and actively shape the future of insurance, risk management and ancillary services".

“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," he said in a statement.