Insurance Australia Group Ltd · ASX:IAG
Insurance Australia — Investor Day (April 2018)
6 slides from Insurance Australia's investor day presentation, Apr 11, 2018
Slide 1: Australia
AUSTRALIA Mark Milliner CEO Australia
Slide 2: Optimisation Program: on track to achieve 10% reduction in cost run rate exiting FY19
OPTIMISATION PROGRAM On track to achieve 10% reduction in cost run rate exiting FY19 Three core pillars Progressive realisation of benefits Expected net profile 1 Effective partnering 2 Core systems consolidation 3 Procurement maximisation FY 18 FY 19 FY 20 Broadly >$100m ~$250m ~$2.5bn of gross ope
Slide 3: Australian Market Update
AUSTRALIAN MARKET UPDATE Favourable environment Continued system growth Retention holding up Rate increases Claims inflation across commercial challenges being met and personal lines Addressing Positive margin momentum underperforming portfolios 3 IAG Investor Day | 11 April 2018
Slide 4: Single Australia Division
SINGLE AUSTRALIA DIVISION Part of simplification process From July 2017 New model implemented within five months Redesigned systems of work Australia Australia Reduced complexity Consumer Business Strengthened governance Reduced management layers Better customer experience Improved accountability Au
Slide 5: Simplification Outcomes in Australia
SIMPLIFICATION OUTCOMES IN AUSTRALIA Improved customer and employee experience Single Guidewire claims platform Effective partnering – largely complete by end of FY18 – accessing process expertise Strong webchat take-up Automation of processes Increased claim lodgement capability in high volume even
Slide 6: Future Opportunities
FUTURE OPPORTUNITIES Profitable growth in core markets Consumer Business • Reconnecting with past customers • Extending CGU brand • Connecting with new generations • Micro SME opportunity • Leveraging brand strength though effective marketing • Continuing to work closely with the broker network Appl
Insurance Australia Group — Investor Day (April 2018) on 6ix