Suncorp Group Limited · ASX:SUN
Suncorp — Investor Day (June 2017)
61 slides from Suncorp's investor day presentation, Jun 1, 2017
Slide 1: ASX announcement: Suncorp Group Investor Day
ASX announcement 1 June 2017 Suncorp Group Investor Day For personal use only Suncorp Group today is hosting its annual investor day in Brisbane. Attached for immediate release are the presentation materials. The event will be webcast from 8:45am at www.suncorpgroup.com.au. A recording of the webcas
Slide 2: Investor Day 1 June 2017
Investor Day 1 June 2017 For personal use only — Create a better today
Slide 3: Agenda
Agenda Time Item Speaker 8.45am Welcome Fiona Thompson — Creating a better today Michael Cameron For personal use only Mark Reinke Elevate the customer and Pip Marlow 8.50am Create the Marketplace Gary Dransfield Q&A Innovation lab introduction Sarah Harland 10.15am Lab tour & morning tea 11.00am We
Slide 4: Creating a better today
For personal use only Creating a better today Michael Cameron ―
Slide 5: Strategy
Strategy Is there a better photo of — the Concept Store? Corporate Affairs to provide For personal use only INVESTOR DAY 1 JUNE 2017 4
Slide 6: Strategy: purpose, vision, priorities
Strategy — For personal use only Create a better today Purpose Be the destination for the moments that matter Vision Maintain Priorities Elevate the Create the Inspire our momentum customer Marketplace people and grow One Suncorp Business model INVESTOR DAY 1 JUNE 2017 5
Slide 7: Priorities
Priorities — For personal use only Maintain Elevate the Create the Inspire our momentum customer Marketplace people and grow INVESTOR DAY 1 JUNE 2017 6
Slide 8: Suncorp Marketplace
Suncorp Marketplace — For personal use only INVESTOR DAY 1 JUNE 2017 7
Slide 9: Suncorp Today
Suncorp Today — For personal use only – Refreshed Strategy and Purpose – New Operating Model and substantially new Senior team – Two Concept Stores and new branding – New AAMI and Suncorp apps – Launched annuities and health solutions – Extended the Marketplace to embrace journeys, integrated offers
Slide 10: Transformation Pathways
Transformation Pathways For personal use only — Source: (1) P. Weill & S. L. Woerner, "What’s Your Digital Business Model? Six questions to help you build the next generation enterprise", Harvard Business School Press forthcoming 2018. (2) Percentages for pathways: 2016 MIT CISR Annual Research Foru
Slide 11: Strategy
Strategy — For personal use only Create a better today Purpose Be the destination for the moments that matter Vision Maintain Priorities Elevate the Create the Inspire our momentum customer Marketplace people and grow One Suncorp Business model INVESTOR DAY 1 JUNE 2017 10
Slide 12: Elevate the Customer
Elevate the Customer For personal use only Mark Reinke CHIEF CUSTOMER EXPERIENCE OFFICER ― Maintain Elevate the Create the Inspire our momentum customer Marketplace people and grow
Slide 13: Elevating the Customer
Elevating the Customer — For personal use only – Making the experience easy for customers – Connecting customers to the Suncorp Marketplace – Developing integrated solutions and customer journeys INVESTOR DAY 1 JUNE 2017 12
Slide 14: Making the experience for customers easy
Making the experience for customers easy ― For personal use only Making it easy and faster – Buy a home – Take the stress out of making a claim Customer outcomes: – See and manage my solutions ‒ Growth in customers ‒ Improving retention rates ‒ Needs based conversations Knowing our customers – Holis
Slide 15: Building the Suncorp Marketplace
Building the Suncorp Marketplace — For personal use only INVESTOR DAY 1 JUNE 2017 14
Slide 16: Marketplace: A customer view
Marketplace: A customer view For personal use only — ‒ Makes it easy to meet all of my financial wellbeing needs ‒ Helps me make good choices with helpful tools and insights ‒ Saves me time by managing my brands and solutions in one place ‒ Rewards me and keeps me coming back INVESTOR DAY 1 JUNE 201
Slide 17: Designing end-to-end customer journeys
Designing end-to-end customer journeys For personal use only — Opportunity: ‒ 3.3 million home owners ‒ 5.6 million vehicle owners ‒ 700,000 small business customers From: To ‒ Unconnected range of products ‒ Seamless connection of solutions and brands and brands ‒ Winning customers at the end of ‒
Slide 18: Creating networked brands
Creating networked brands ― ‒ Refreshed masterbrand For personal use only ‒ Strengthened and simplified portfolio ‒ Cross brand pathways Connecting Suncorp’s brands in concept stores Connecting AAMI and Suncorp brands digitally INVESTOR DAY 1 JUNE 2017 17
Slide 19: New solutions in priority segments
New solutions in priority segments ― MATURE YOUNG LIFESTYLE SMALL BUSINESS For personal use only ‒ APIA transaction account ‒ SmartPlates for learner drivers ‒ Start a Business service ‒ Home Assist Service ‒ Trōv single item cover ‒ Suncorp Business Toolbox INVESTOR DAY 1 JUNE 2017 18
Slide 20: Elevate the customer priorities
Elevate the customer priorities — For personal use only – Launch new integrated solutions – Build key journeys – Complete Suncorp rebrand program – Suncorp Rewards Program INVESTOR DAY 1 JUNE 2017 19
Slide 21: Create the Marketplace
Create the Marketplace For personal use only Pip Marlow CHIEF EXECUTIVE OFFICER STRATEGIC INNOVATION ― Maintain Elevate the Create the Inspire our momentum customer Marketplace people and grow
Slide 22: Strategic Innovation in the Marketplace
Strategic Innovation in the Marketplace ― For personal use only ̶ Identify strategic opportunities ̶ Build capability to meet emerging needs ̶ Create new options within customer journeys INVESTOR DAY 1 JUNE 2017 21
Slide 23: Accelerate the partner ecosystem
Accelerate the partner ecosystem ― For personal use only Building on Global the base network Destination of choice Multiple ways Engaging other to partner ecosystems INVESTOR DAY 1 JUNE 2017 22
Slide 24: Operate across three horizons
Operate across three horizons ― For personal use only Car sharing Traditional car ownership Ride sharing Automated vehicles Subscription models Current Emerging Future Purchase and protect the asset Optimise the asset Access mobility INVESTOR DAY 1 JUNE 2017 23
Slide 25: Looking ahead
Looking ahead ― For personal use only – Build team – Accelerate partner ecosystem – Identify customer journey opportunities INVESTOR DAY 1 JUNE 2017 24
Slide 26: Create the Marketplace
Create the Marketplace For personal use only Gary Dransfield CHIEF EXECUTIVE OFFICER CUSTOMER PLATFORMS ― Maintain Elevate the Create the Inspire our momentum customer Marketplace people and grow
Slide 27: Creating the Marketplace
Creating the Marketplace ― For personal use only ‒ 63 million log-ins to our digital assets ‒ 5+ million registered online accounts ‒ 20 million contact centre conversations ‒ 55 million website visits across brands ‒ 3 million self-service transactions ‒ 8 million store transactions ‒ 30,000 broker
Slide 28: Integrated customer channels
Integrated customer channels ― For personal use only Digital Contact Centres Stores Intermediaries Primary proactive Primary sales Awareness and Support to other sales and retention and service channel engagement providers of advice channel INVESTOR DAY 1 JUNE 2017 27
Slide 29: Create the Marketplace: build and enable
Create the Marketplace: build and enable For personal use only — Customer Workbench Connected Enhanced Digitisation and (one view of our Conversation Model Advice Model Artificial Intelligence customers) INVESTOR DAY 1 JUNE 2017 28
Slide 30: Meeting more needs in action
Meeting more needs in action — For personal use only Stores Contact Centres Intermediaries INVESTOR DAY 1 JUNE 2017 29
Slide 31: Marketplace in action
Marketplace in action — For personal use only – 100% digital business model – Differentiated proposition to deliver sustainably lower premiums for customers – Aiming for 100% self-service – Implemented the Binglebot in customer service INVESTOR DAY 1 JUNE 2017 30
Slide 32: Marketplace in action
Marketplace in action — For personal use only ̶ Customers now have three distinct health insurance offerings ̶ Health plays a significant role ̶ Omni-channel product and service delivery integrated into existing Suncorp channels INVESTOR DAY 1 JUNE 2017 31
Slide 33: Marketplace priorities
Marketplace priorities — For personal use only – Build intuitive digital experience for our customers and partners – Execute loyalty and differentiated service levels – Enhance sales and service productivity – Connect Intermediaries to the Marketplace to deepen relationships – Continue to deliver in
Slide 34: Elevating the customer and Creating the Marketplace
Elevating the customer and Creating the Marketplace For personal use only — Build the Marketplace Design connected Develop the partner Differentiate our brands solutions and services ecosystem (individually strong and deliver value when connected) INVESTOR DAY 1 JUNE 2017 33
Slide 35: Elevate the customer and create the Marketplace Q&A
Elevate the customer and create the Marketplace For personal use only Q&A Mark Reinke, Pip Marlow, Gary Dransfield ― CEO & MANAGING DIRECTORElevate the Maintain CEO, CUSTOMER PLATFORMS Create the Inspire our momentum customer Marketplace people and grow CHIEF CUSTOMER OFFICER CEO, STRATEGIC INNOVATI
Slide 36: Suncorp Labs Tour
Suncorp Labs Tour For personal use only Sarah Harland CHIEF INFORMATION OFFICER ―
Slide 37: Morning tea
For personal use only ― Morning tea
Slide 38: Maintain momentum and grow
Maintain momentum and grow For personal use only Anthony Day CHIEF EXECUTIVE OFFICER INSURANCE ― Maintain Elevate the Create the Inspire our momentum customer Marketplace people and grow
Slide 39: Insurance in the Marketplace
Insurance in the Marketplace ― For personal use only – Meeting customer needs – Digital first customer engagement – Complemented by intermediaries INVESTOR DAY 1 JUNE 2017 38
Slide 40: Maintain momentum and grow: Operational excellence
Maintain momentum and grow ― For personal use only Operational excellence – Effective events response – Comprehensive reinsurance program – Home and Motor claims loss ratios improving INVESTOR DAY 1 JUNE 2017 39
Slide 41: Maintain momentum and grow: Portfolio optimisation
Maintain momentum and grow ― For personal use only Portfolio optimisation – National approach to CTP business – Working closely with regulators – Leveraging scale of the personal injury business – Life Optimisation INVESTOR DAY 1 JUNE 2017 40
Slide 42: Maintain momentum and grow: Targeted growth
Maintain momentum and grow ― For personal use only Targeted growth – Marketplace a key enabler for growth – Opportunities in Home and Direct SME – Underpinned by continuous improvement and investing in our people INVESTOR DAY 1 JUNE 2017 41
Slide 43: Maintain momentum and grow
Maintain momentum and grow For personal use only Paul Smeaton CHIEF EXECUTIVE OFFICER NEW ZEALAND ― Maintain Elevate the Create the Inspire our momentum customer Marketplace people and grow
Slide 44: Suncorp New Zealand Marketplace
Suncorp New Zealand Marketplace ― For personal use only Our vision is to be the #1 choice for New Zealanders because we are the destination for the moments that matter Our Partners INVESTOR DAY 1 JUNE 2017 43 43
Slide 45: Maintain momentum and grow: Portfolio optimisation
Maintain momentum and grow ― For personal use only Portfolio optimisation – Motor claims pricing and underwriting – Two new SMART repair centres – Home pricing and underwriting changes – Large losses project management office – Price increases following Kaikoura earthquake – Strong performance in Li
Slide 46: Maintain momentum and grow: Targeted growth and operational excellence
Maintain momentum and grow ― For personal use only Targeted growth Operational excellence – Digital direct offering for Corporate – Claims management improvements Partner brands – Real estate consolidation – SME digital solutions – Procurement savings – Digitising the Life quoting and buying experie
Slide 47: Maintain momentum and grow
Maintain momentum and grow For personal use only David Carter CHIEF EXECUTIVE OFFICER BANKING AND WEALTH ― Maintain Elevate the Create the Inspire our momentum customer Marketplace people and grow
Slide 48: Banking & Wealth in the Marketplace
Banking & Wealth in the Marketplace ― For personal use only – Balance momentum while driving innovation – Maximise opportunities to connect customers through integrated solutions – Leverage unique strengths to build confidence and trust with customers INVESTOR DAY 1 JUNE 2017 47
Slide 49: Maintain momentum and grow: Portfolio optimisation
Maintain momentum and grow ― For personal use only Portfolio optimisation – Macro-prudential measures – Balance sheet strength – A+ issuer rating – Sustainable and diversified funding base INVESTOR DAY 1 JUNE 2017 48
Slide 50: Maintain momentum and grow: Operational excellence
Maintain momentum and grow ― For personal use only Customer goal Operational excellence – Speed up and simplify processes – Maintain momentum on risk management – Making it easy for customers INVESTOR DAY 1 JUNE 2017 49
Slide 51: Maintain momentum and grow: Targeted growth
Maintain momentum and grow ― For personal use only Targeted growth – Customer-led product innovation – Meeting more customer needs INVESTOR DAY 1 JUNE 2017 50
Slide 52: Summary
Summary ― For personal use only – Strong foundation to maintain momentum for sustainable growth – Deepen customer relationships – Strengthen capabilities to enhance trust and confidence INVESTOR DAY 1 JUNE 2017 51
Slide 53: Inspire our people
Inspire our people For personal use only Amanda Revis CHIEF PEOPLE EXPERIENCE OFFICER ― Maintain Elevate the Create the Inspire our momentum customer Marketplace people and grow
Slide 54: Inspire our people
Inspire our people ― For personal use only 49% female leaders 1.6 62% LTIFR engagement 82% 87% flexible work arrangements participation INVESTOR DAY 1 JUNE 2017 53
Slide 55: Differentiated employee experience
Differentiated employee experience ― For personal use only ‒ Compass behaviours ‒ Leadership development ‒ Diversity and inclusion ‒ Career development ‒ Work environment INVESTOR DAY 1 JUNE 2017 54
Slide 56: Workforce and workspace of the future
Workforce and workspace of the future ― For personal use only Customer One Augmented Connections Suncorp work Speed to Liquid market workforce INVESTOR DAY 1 JUNE 2017 55
Slide 57: Inspire our people
Inspire our people ― For personal use only INVESTOR DAY 1 JUNE 2017 56
Slide 58: CFO update: Steve Johnston
For personal use only Steve Johnston CHIEF FINANCIAL OFFICER ―
Slide 59: CFO update
CFO update ― For personal use only ̶ Business in good shape ̶ Improved retention ̶ Reinsurance reducing volatility ̶ Bank APS330 outlined strong credit quality and sustainable growth ̶ Life Optimisation and exploring strategic alternatives INVESTOR DAY 1 JUNE 2017 58 58
Slide 60: Q&A
Q&A For personal use only Michael Cameron, Steve Johnston, Amanda Revis Anthony Day, David Carter and Paul Smeaton ―
Slide 61: Conclusion
For personal use only Conclusion Michael Cameron ―