Research and development
Although VIG companies do not perform any research activities as defined in § 243 (3) (2) UGB, they contribute their expertise to the development of insurance-specific software models. VIG Holding and – for projects – the VIG companies also cooperate with Digital Impact Labs Leipzig, Plug and Play and VENPACE, a start-up initiative (investment and corporate building) that is located in Germany and jointly funded with other insurance companies, in order to identify technological developments in the market more quickly and internalise them if necessary. Viesure was also established for this purpose as an internal “innovation hub” focusing mainly on Austria. Since December 2022, investment has also been made in the APEX Deep Tech Fund, which focuses on tech start-ups, and supports VIG in identifying and researching innovations at an early stage in order to use these in the business model to the benefit of its customers. An example of such innovation is the use of sensors and satellite technology as an early warning system for potential forest fires. The VIG Group also indirectly promotes research activities through its participations in ISTCube to increase basic research in Austria and APEIRON and invIOS to support research into biotech and the fight against cancer and respiratory illnesses.