Group Annual Report 2023

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Research and development

Although VIG companies do not perform any research activities within the meaning of Section 243 (3) Z2 UGB, they contribute their expertise to the development of insurance-specific software models. VIG Holding and – for projects – the VIG companies cooperate with the Digital Impact Labs Leipzig, Plug and Play and VENPACE, a jointly with other insurers financed start-up-initiative (Investment and Corporate Building) based in Germany, in order to identify technological developments in the market more quickly and internalise them if necessary. Viesure was also founded as an internal “innovation hub” focusing mainly on Austria for this purpose. Since December 2022 an investment has also been made in the APEX Deep Tech Fund, that focuses on tech-start-ups and supports VIG in identifying and researching innovations at an early stage in order to use this for the business model to the benefit of the customers – for example by applications such as sensors and satellite technology for the early detection of potential forest fires. VIG Group also carries out indirect research activities by its participation both in ISTCube for strengthening basic research in Austria and also APEIRON and invlOS to support the research in the “biotech” field and the fight against cancer and respiratory diseases.