Insurance Australia Group (IAG) has announced a new three-year Reconciliation Action Plan (RAP), targeting an increased spend with Indigenous-owned suppliers and expanding internal initiatives to support Aboriginal and Torres Strait Islander communities.
The Stretch RAP, set to commence in July 2025 and run through June 2028, includes a procurement target of $10 million with Indigenous businesses.
The plan was launched at the National Centre of Indigenous Excellence in Redfern, marking the company’s fifth RAP since first adopting the framework in 2013.
Nick Hawkins, managing director and CEO of IAG, said reconciliation objectives have increasingly been integrated into the organisation’s overall business operations.
“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,” he said.
A central component of the plan is a 68% increase in procurement spending with Indigenous businesses, up from $3.2 million under the previous RAP.
The initiative will also encourage engagement with female-led Aboriginal and Torres Strait Islander suppliers, aiming to diversify IAG’s supplier network across all business divisions.
The company has committed to updating procurement protocols and increasing internal visibility of supplier opportunities to drive uptake across its business units.
Beyond supplier engagement, the RAP outlines measures to improve workplace experiences for First Nations employees.
IAG plans to enhance policies to support cultural safety, strengthen retention, and provide additional development opportunities to help elevate Indigenous staff into leadership roles.
The plan also includes continued collaboration with community organisations, such as the National Aboriginal Sporting Chance Academy, which IAG is supporting to help increase high school graduation rates among Indigenous students.
Karen Mundine, CEO of Reconciliation Australia, highlighted the broader implications of the RAP for Indigenous economic participation.
“This ambition is matched by efforts to offer clearer, more accessible information for Aboriginal and Torres Strait Islander customers and reduce the cultural load on staff. Together, these commitments show how IAG is working to create opportunities for First Nations peoples to participate equally across employment and economic development,” she said.
In parallel with the RAP, IAG’s NRMA Insurance has partnered with Indigenous-owned creative agency Campfire x to produce a climate resilience documentary, “The Knowledge Keepers.”
The 30-minute film, released in April on NITV and available via SBS On Demand, features Indigenous knowledge holders discussing land management techniques for addressing bushfires, flooding, and heat exposure.
The project supports NRMA Insurance’s alignment with the Beyond 3% initiative, a media spend strategy encouraging companies to allocate at least 3% of advertising budgets to Indigenous-owned media outlets.
