Insurance Australia Group Ltd · ASX:IAG
Insurance Australia — Investor Day (June 2023)
8 slides from Insurance Australia's investor day presentation, Jun 14, 2023
Slide 1: Jarrod Hill, Group Executive, Intermediated Insurance Australia
Jarrod Hill Group Executive, Intermediated Insurance Australia 03 Investor Day | 14 June 2023 Intermediated Insurance Australia
Slide 2: Intermediated Insurance Australia overview
Intermediated Insurance Australia overview Intermediated Personal Lines Low Touch SME & Agri Mid-Market & Corporate Via Brokers Via Brokers Via Brokers Via Reps Via Reps Via Reps Via Partners Via Agencies ~A$1.2bn ~A$1.7bn ~A$1.9bn FY23F GWP FY23F GWP FY23F GWP 21 Investor Day | 14 June 2023
Slide 3: Operating environment
Operating environment Australian Intermediated Insurance Market • Market continues to take rate to stabilise margins and (GWP including Personal & Commercial Lines) offset higher claims and reinsurance costs. • Limited evidence of new capital or entrants coming into the Commercial market in Australi
Slide 4: Strategy – Ambition26
H1 H2 H3 Strategy – Ambition26 Horizon 1 - Simplification Horizon 1 Outcomes • Growth largely rate driven to improve margin and offset input Horizon 1 Horizon 2 Horizon 3 costs. Simplification Growth Differentiation • Proactive and structured portfolio management capability in place. • Product harmo
Slide 5: Key Horizon 1 progress
H1 H2 H3 Key Horizon 1 progress Underwriting Pricing Claims Active expense Winning new practices Deploying modern efficiency management partner - ANZ Implemented regular rating tools in key Deployed and Disciplined expense ANZ will be delivered product line portfolio products and progress enhanced d
Slide 6: Building strategic capability
H1 H2 H3 Building strategic capability FY24 Outlook Horizon 1 Horizon 2 Horizon 3 • Confident of delivering at least $250m insurance profit. Simplification Growth Differentiation • In anticipation of significant re-insurance increases, we started applying rate to cover costs in 2Q23. Further adjustm
Slide 7: Technology
H1 H2 H3 Technology Strategic investment will reshape our partner proposition IIA’s core insurance capabilities We have traditionally built our brands around trust and relationships. Distribution Underwriting Pricing In the future we will lead the way in providing data driven Dynamic, digitally Dedi
Slide 8: Conclusion
Conclusion Intermediated Insurance Australia Summary • Confident of delivering FY24 insurance profit target. • Underwriting and efficiency foundations in place. • Attracted strong people capability and leadership. • Commercial lines technology is an opportunity. 27 Investor Day | 14 June 2023