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: Amanda Whiting, CEO, IAG New Zealand
Amanda Whiting CEO, IAG New Zealand 04 Investor Day | 14 June 2023 New Zealand
Slide 2: IAG New Zealand overview
IAG New Zealand overview #1 Ambition: Personal lines To protect the future of every Kiwi market share Business Division Consumer Brands Division Via Brokers Direct Brands Bank Partners #1 Commercial lines market share NZ$1.7bn NZ$1.4bn NZ$0.5bn >2M FY23F GWP FY23F GWP FY23F GWP Customers 29 Investor
Slide 3: North Island Floods and Cyclone Gabrielle
North Island Floods and Cyclone Gabrielle New Zealand communities have been hit hard #2 and #3 A$284m largest loss events Group net cost in NZ history 49k claims Strong lodged for the events community 30% closed to date response across North Island 30 Investor Day | 14 June 2023
Slide 4: Operating environment
Operating environment Slower system growth Higher claims frequency Upward Cost Pressures • 2023 population growth 0.8% • Open claims are ~60% higher • Higher claims inflation across due to the weather events motor and property • Personal Motor sales down 6% ‒ Personal Motor now stabilising at • Moto
Slide 5: Growth: Two-phase strategy and FY23 focus
Two-phase strategy FY23 Focus • Rising rate increases, particularly in 2H23 in response Margin and customer retention focus into FY24 to inflation and higher reinsurance costs - Personal Motor ~20% - Commercial 15-20% Growth - Home ~20-30+% - adjusted for EQC impact • Strong customer retention (92%
Slide 6: NZI Intermediated
NZI Intermediated Always striving to add value for our customers Market-leading broker NPS Strong GWP growth (+25pts ahead of competitors) 13.6% in 1H23 83% commercial customer retention NZI Assurance Small & micro businesses Large Corporate sector seeking straight-forward digital Strong tri-partite
Slide 7: Claims Customer Claims Journey
Claims Customer Claims Journey Foundations strengthened to improve customer experience and reduce costs Customer Roadside Lodge claim Event Rescue Support digitally Support for lost keys, Available for AMI & dead battery, towing, State Personal Lines accident response, tyre puncture etc. Adjacency b
Slide 8: Conclusion
Conclusion IAG New Zealand Summary • Achieving strong GWP growth • Continued momentum on closing claims • FY24 priorities: – Deliver margin and customer retention – Launch Enterprise Platform for Direct brands – NZ Transformation 35 Investor Day | 14 June 2023