Suncorp Group Limited · ASX:SUN
Suncorp — Investor Day (May 2015)
32 slides from Suncorp's investor day presentation, May 27, 2015
Slide 1: Suncorp Group Investor Day ASX announcement
ASX announcement 27 May 2015 SUNCORP GROUP INVESTOR DAY For personal use only OPTIMISED PLATFORM TO DELIVER $170 MILLION IN BENEFITS Suncorp today is hosting its annual Investor Day at SMART-PLUS motor repair centre in Riverwood1, Sydney. The presentation material is attached and the event will be w
Slide 2: ASX announcement continued and contacts
“Suncorp’s Investor Day proves the strategy we embarked upon five years ago has enabled us to become a leaner, faster and smarter business. Suncorp has a unique DNA represented by world- class technology, industry leading people and a strong capability of execution. This allows us to continually imp
Slide 3: Suncorp Group Investor Day 2015 Agenda
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Group Limited For personal use only Suncorp Group Limited Investor Day 2015 1 Suncorp Group Investor Day 27 May 2015 Suncorp Group Investor Day 2015 Agenda Speaker Topic Start time Patrick Snowball Welcome 9.00 General Insurance CEOs Genera
Slide 4: Welcome: Suncorp transformation, the story so far
Suncorp Group Investor Day Presentation 27 May 2015 For personal use only Welcome Patrick Snowball Chief Executive Officer, Suncorp Group Limited 3 Suncorp Group Investor Day 27 May 2015 Suncorp transformation The story so far 2009 2011 2015 Stabilise Integrate Simplify ENABLED BY ENABLED BY Buildin
Slide 5: Building Blocks & Simplification; Optimisation, the next phase
Suncorp Group Investor Day Presentation 27 May 2015 Building Blocks & Simplification Delivering $460 million of annual benefits For personal use only 500 14.8%* 16% 14.3% 400 Underlying ITR 13.5% 14% 12.1% 300 10.8% Simplification benefits $225m 12% $m 200 9.0% 10% 100 8% Building Blocks benefits $2
Slide 6: Optimised Platform: Unlocking the value of our customers
Suncorp Group Investor Day Presentation 27 May 2015 Optimised Platform Unlocking the value of our 9 million customers For personal use only Connected customers Simplified systems BANK LIFE GENERAL INSURANCE CORPORATE Underpinned by DATA LAKE SUNCORP DATA SERVICES Business Intelligence Sitting within
Slide 7: Key targets; Optimised Platform in 2017
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Group Key targets For personal use only 1 ‘Above-system’ target markets growth in key 4 Continue to return surplus capital 2 ‘Meet or beat’ an underlying ITR of 12% through the cycle 5 Optimisation benefits of $170 million in 2018 financial
Slide 8: General Insurance transformation; Personal Insurance
Suncorp Group Investor Day Presentation 27 May 2015 For personal use only General Insurance transformation Mark Milliner Personal Insurance CEO Anthony Day Commercial Insurance CEO Gary Dransfield Vero New Zealand CEO 11 Suncorp Group Investor Day 27 May 2015 Personal Insurance Simplification has st
Slide 9: Commercial Insurance: Simplification is delivering
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance Simplification is delivering For personal use only • All Compulsory Third Party brands on the Group’s • All products on the Group’s single policy policy platform platform within next two years • First Workers Compensation &
Slide 10: New Zealand General Insurance: Market overview and Christchurch
Suncorp Group Investor Day Presentation 27 May 2015 New Zealand General Insurance Market overview For personal use only Market consolidation in personal lines Increased competition and softening commercial lines Fundamental change to availability, price and terms for reinsurance Significant regulato
Slide 11: New Zealand General Insurance: Transformation and adapting for growth
Suncorp Group Investor Day Presentation 27 May 2015 New Zealand General Insurance Transformation and adapting for growth For personal use only Above system unit growth in Personal Insurance over the last two years Growth through corporate partnerships – existing and new Vero launched SumExtra policy
Slide 12: Bank: Four strategic pillars; Ignite Open API
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Bank - Four strategic pillars An Optimised Platform for the new bank in 2017 For personal use only Business Group Advanced risk Intelligence customer Project management harnessing data initiatives Ignite 19 Suncorp Group Investor Day 27 May
Slide 13: Bank: Project Ignite journey and numbers
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Bank Project Ignite – the journey For personal use only Initial phase: Current phase: Future direction: Where we were Where we are now Where we are going Testing De-risking New Bank Well advanced Redefine and mature 2017 21 Suncorp Group In
Slide 14: Bank: Customer Centricity; Ignite journey to completion
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Bank Creating a culture of Customer Centricity For personal use only Understand customer needs Customer Central Respond to feedback Customer Connect Voice of the Complaints Segmentation Tools Customer are a Gift Ignite CRM Our Six Levels of
Slide 15: Suncorp Life: Optimised Platform and strategic evolution
Suncorp Group Investor Day Presentation 27 May 2015 For personal use only Suncorp Life Optimised Platform Geoff Summerhayes Chief Executive Officer, Suncorp Life 25 Suncorp Group Investor Day 27 May 2015 Suncorp Life – Strategic Evolution Building an Optimised Platform Business Business Foundations
Slide 16: Life: Super Simplification and Acclaim
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Life – Super Simplification Improving scale, sustainability and agility For personal use only Super Simplification How it enables our Superannuation strategy Program • Upgraded core system Business process partnering • New offers and reduce
Slide 17: Morning tea; Business Intelligence
Suncorp Group Investor Day Presentation 27 May 2015 For personal use only Morning tea 29 Suncorp Group Investor Day 27 May 2015 Business Intelligence Mark Reinke Group Executive Customer, Data & Marketing 30 Suncorp Group Investor Day 27 May 2015 15
Slide 18: Business Intelligence: predictive intelligence and capability development
Suncorp Group Investor Day Presentation 27 May 2015 Business Intelligence Opening ‘the jaws’ with predictive intelligence For personal use only 31 Suncorp Group Investor Day 27 May 2015 Business Intelligence Capability development is well underway 32 Suncorp Group Investor Day 27 May 2015 16
Slide 19: Business Intelligence: Building a smarter business
Suncorp Group Investor Day Presentation 27 May 2015 Business Intelligence Building a smarter business For personal use only 33 Suncorp Group Investor Day 27 May 2015 Business Intelligence Innovating across the customer journey 34 Suncorp Group Investor Day 27 May 2015 17
Slide 20: Building new customer experiences; Optimised Platform
Suncorp Group Investor Day Presentation 27 May 2015 Business Intelligence Building new customer experiences For personal use only 35 Suncorp Group Investor Day 27 May 2015 Optimised Platform Matt Pancino Chief Executive Officer, Suncorp Business Services 36 Suncorp Group Investor Day 27 May 2015 18
Slide 21: Optimised Platform: Connected customers, simplified systems
Suncorp Group Investor Day Presentation 27 May 2015 Optimised Platform For personal use only Connected customers Simplified systems BANK LIFE GENERAL INSURANCE CORPORATE Underpinned by DATA LAKE SUNCORP DATA SERVICES Business Intelligence Sitting within a secure and scalable cloud CLOUD ENVIRONMENT
Slide 22: Redefining the claims value chain
Suncorp Group Investor Day Presentation 27 May 2015 Redefining the claims value chain Digital, integrated, end-to-end platform For personal use only $100 million of benefits in FY18 Lodgment Assessment Repair Optimised Procurement Increased Digital Capability Claim Contents Policy Severe Weather Cla
Slide 23: New Zealand claims experience and customer journey
Suncorp Group Investor Day Presentation 27 May 2015 New Zealand General Insurance Claims experience For personal use only Claims service is a key differentiator Leveraging Group technology platforms and business processes Dedicated Claims business unit – consolidated BAU and Earthquake claims Improv
Slide 24: New Zealand: Delivering on innovation; Commercial Insurance
Suncorp Group Investor Day Presentation 27 May 2015 New Zealand General Insurance Delivering on innovation For personal use only SMART launched in Auckland in late 2014 Volumes, repair savings and customer experience are on target From October, direct personal lines will lodge all new claims in Clai
Slide 25: Commercial Insurance growth opportunities
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance growth opportunities $15b GWP: $10b Government, $5b private-sector For personal use only 45 Suncorp Group Investor Day 27 May 2015 Commercial Insurance structure Personal injury economies of scale CTP Statutory Workers Comp 46
Slide 26: Commercial Insurance systems and processes
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance systems Leading edge claims management platform For personal use only ClaimCenter 47 Suncorp Group Investor Day 27 May 2015 Commercial Insurance processes Nationally consistent best practice One claims management platform One c
Slide 27: Commercial Insurance people and customer focus
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance people Upskilling with tertiary qualifications For personal use only Master of Management (Personal Injury) Diploma of Personal Injury Management Certificate IV General Insurance Certificate III Financial Services 49 Suncorp Gr
Slide 28: Commercial Insurance results; Optimisation financial impacts
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance results Outperforming our competitors For personal use only NSW Workers Queensland CTP NSW Workers Compensation average claims Compensation market share costs better than scheme: leading increase from the rest of industry retur
Slide 29: Shareholder Promise; Optimisation additional benefits
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Shareholder Promise Simplified, de-risked financial services group For personal use only Simplification De-risking Streamlined legal structures Non-core Bank resolution and systems Life balance sheet reset Shareholder Yield Promise Increase
Slide 30: Optimisation next phase; Underlying and Reported ITR
Suncorp Group Investor Day Presentation 27 May 2015 Optimisation The next phase For personal use only 700 Optimisation Program: 600 • Claims transformation • Ongoing SMART rollout Optimisation benefits $170m 500 • Super Simplification 400 • Business Intelligence • Technology & Procurement Simplifica
Slide 31: Q&A and Conclusion
Suncorp Group Investor Day Presentation 27 May 2015 For personal use only Q&A 57 Suncorp Group Investor Day 27 May 2015 Conclusion Patrick Snowball Chief Executive Officer, Suncorp Group Limited 58 Suncorp Group Investor Day 27 May 2015 29
Slide 32: Optimised Platform in 2017; Important disclaimer
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp transformation Optimised Platform in 2017 For personal use only 2009 2011 2015 2017+ Optimised Stabilise Integrate Simplify Platform ENABLED BY ENABLED BY ENABLED BY Building Blocks Simplification Optimisation Single view of: • LSP/ NextGen