Suncorp Group Limited · ASX:SUN
Suncorp — Investor Day (February 2016)
32 slides from Suncorp's investor day presentation, Feb 11, 2016
Slide 1: ASX announcement: Suncorp Group Investor Day
ASX announcement 27 May 2015 SUNCORP GROUP INVESTOR DAY 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 webcast from 9.00am at
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 and Agenda
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Group Limited 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 General Insurance Transforma
Slide 4: Welcome: Suncorp transformation, the story so far
Suncorp Group Investor Day Presentation 27 May 2015 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 Building Blocks Simplificatio
Slide 5: Building Blocks & Simplification; Optimisation next phase
Suncorp Group Investor Day Presentation 27 May 2015 Building Blocks & Simplification Delivering $460 million of annual benefits 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 $235m 0 6% Building Bloc
Slide 6: Optimised Platform
Suncorp Group Investor Day Presentation 27 May 2015 Optimised Platform Unlocking the value of our 9 million customers Connected customers Simplified systems BANK LIFE GENERAL INSURANCE CORPORATE Underpinned by DATA LAKE SUNCORP DATA SERVICES Business Intelligence Sitting within a secure and scalable
Slide 7: Key targets and Optimised Platform in 2017
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Group Key targets 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 year 3 60% to 80% div
Slide 8: General Insurance transformation: Personal Insurance
Suncorp Group Investor Day Presentation 27 May 2015 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 strengthened….. Customer
Slide 9: Commercial Insurance simplification
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance Simplification is delivering • 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 & Packages • All GIO Pa
Slide 10: New Zealand General Insurance: market overview and Christchurch
Suncorp Group Investor Day Presentation 27 May 2015 New Zealand General Insurance Market overview Market consolidation in personal lines Increased competition and softening commercial lines Fundamental change to availability, price and terms for reinsurance Significant regulatory change 15 Suncorp G
Slide 11: New Zealand General Insurance transformation; New Bank in 2017
Suncorp Group Investor Day Presentation 27 May 2015 New Zealand General Insurance Transformation and adapting for growth Above system unit growth in Personal Insurance over the last two years Growth through corporate partnerships – existing and new Vero launched SumExtra policy benefit Retention for
Slide 12: Suncorp Bank: strategic pillars and 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 Business Group Advanced risk Intelligence customer Project management harnessing data initiatives Ignite 19 Suncorp Group Investor Day 27 May 2015 Suncorp Bank - I
Slide 13: Project Ignite journey and numbers
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Bank Project Ignite – the journey 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 Investor Day 27 May 2015
Slide 14: Bank customer centricity and Ignite completion
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Bank Creating a culture of Customer Centricity 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 Service Empowered min
Slide 15: Suncorp Life: Optimised Platform and strategic evolution
Suncorp Group Investor Day Presentation 27 May 2015 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 Market Market Context
Slide 16: Life: Super Simplification and Acclaim
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Life – Super Simplification Improving scale, sustainability and agility Super Simplification How it enables our Superannuation strategy Program • Upgraded core system Business process partnering • New offers and reduced legacy Simplify • Lo
Slide 17: Morning tea / Business Intelligence
Suncorp Group Investor Day Presentation 27 May 2015 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
Suncorp Group Investor Day Presentation 27 May 2015 Business Intelligence Opening ‘the jaws’ with predictive intelligence 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 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: Optimised Platform
Suncorp Group Investor Day Presentation 27 May 2015 Business Intelligence Building new customer experiences 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; Personal Insurance Claims
Suncorp Group Investor Day Presentation 27 May 2015 Optimised Platform 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 Supported by a unique
Slide 22: New Zealand claims: redefining the claims value chain
Suncorp Group Investor Day Presentation 27 May 2015 Redefining the claims value chain Digital, integrated, end-to-end platform $100 million of benefits in FY18 Lodgment Assessment Repair Optimised Procurement Increased Digital Capability Claim Contents Policy Severe Weather Claim Lodgement Managemen
Slide 23: New Zealand claims experience and customer journey
Suncorp Group Investor Day Presentation 27 May 2015 New Zealand General Insurance Claims experience Claims service is a key differentiator Leveraging Group technology platforms and business processes Dedicated Claims business unit – consolidated BAU and Earthquake claims Improved claims experience 4
Slide 24: NZ innovation; Commercial Insurance statutory advantage
Suncorp Group Investor Day Presentation 27 May 2015 New Zealand General Insurance Delivering on innovation 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 ClaimCenter Will access th
Slide 25: Commercial Insurance growth opportunities and structure
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance growth opportunities $15b GWP: $10b Government, $5b private-sector 45 Suncorp Group Investor Day 27 May 2015 Commercial Insurance structure Personal injury economies of scale CTP Statutory Workers Comp 46 Suncorp Group Investor
Slide 26: Commercial Insurance systems and processes
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance systems Leading edge claims management platform ClaimCenter 47 Suncorp Group Investor Day 27 May 2015 Commercial Insurance processes Nationally consistent best practice One claims management platform One claims process One perf
Slide 27: Commercial Insurance people and customer focus
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance people Upskilling with tertiary qualifications Master of Management (Personal Injury) Diploma of Personal Injury Management Certificate IV General Insurance Certificate III Financial Services 49 Suncorp Group Investor Day 27 Ma
Slide 28: Commercial Insurance results; Optimisation financial impacts
Suncorp Group Investor Day Presentation 27 May 2015 Commercial Insurance results Outperforming our competitors NSW Workers Queensland CTP NSW Workers Compensation average claims Compensation market share costs better than scheme: leading increase from the rest of industry return-to-work 15.6% to 20.
Slide 29: Shareholder Promise; Optimisation additional benefits
Suncorp Group Investor Day Presentation 27 May 2015 Suncorp Shareholder Promise Simplified, de-risked financial services group Simplification De-risking Streamlined legal structures Non-core Bank resolution and systems Life balance sheet reset Shareholder Yield Promise Increased dividend over the Gr
Slide 30: Optimisation next phase; Underlying and Reported ITR
Suncorp Group Investor Day Presentation 27 May 2015 Optimisation The next phase 700 Optimisation Program: 600 • Claims transformation • Ongoing SMART rollout Optimisation benefits $170m 500 • Super Simplification 400 • Business Intelligence • Technology & Procurement Simplification benefits $265m 30
Slide 31: Q&A Conclusion
Suncorp Group Investor Day Presentation 27 May 2015 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 2009 2011 2015 2017+ Optimised Stabilise Integrate Simplify Platform ENABLED BY ENABLED BY ENABLED BY Building Blocks Simplification Optimisation Single view of: • LSP/ NextGen • Claims transformati