IAG will spend $10 million with Indigenous suppliers over three years under its new Reconciliation Action Plan.  

The commitment – from next financial year – marks a 68% increase on procurement from Indigenous businesses under the last RAP.  

The insurer says it will also look to buy from female-owned Aboriginal and Torres Strait Islander companies.  

The financial commitment adds to the RAP’s focus on strengthening workplace policies for Indigenous staff, to elevate career opportunities and ensure cultural harmony. 

The insurer says it will also continue working with Indigenous-led organisations, noting its recent partnership with the National Aboriginal Sporting Chance Academy.  

Reconciliation Australia CEO Karen Mundine says the RAP “sees IAG scaling up its commitment to First Nations economic empowerment. Together, these commitments show how IAG is working to create opportunities for First Nations peoples to participate equally across employment and economic development.”  

IAG CEO Nick Hawkins says the insurer will “continue to take a leadership role in driving reconciliation and advocating for meaningful change for Aboriginal and Torres Strait Islander people. 

“As the first major insurer to establish a RAP back in 2013, we’ve made significant advancements over the past 12 years in integrating our RAP with our business strategy.  

“Through delivering on our RAP commitments, we seek to improve the economic prosperity of Indigenous businesses, increase the representation of First Nations peoples in leadership roles and create new opportunities for Indigenous communities.”  

Find out more about the IAG RAP here.