Third-party insurance administrator Australian Group Insurances (AGI) has created a spinoff company aimed at strengthening its digital capabilities.

The business says Colin McCabe will lead the new setup, AGI Technology, as CEO. Mr McCabe brings over 28 years of IT industry experience and was most recently Partner at IBM Consulting.

“Technology is an important part of our service proposition and [he] is a welcome addition to the team,” AGI CEO Benno Lyakurwa said.

“He will lead our IT team to strengthen our capabilities, particularly in creating digital solutions to complement our administration services.”

Sydney-based AGI provides back office administration services to life companies and superannuation funds. Insurance advisers and brokers with corporate clients also work with AGI to obtain group insurance cover.