IAG restructures to enhance customer focus, data insights
Less than a month after unveiling a new brand strategy, IAG MD and CEO Peter Harmer has revealed his plans for the group, charging it to become a world leader that is both customer and data-driven.
A completely new structure for IAG, which was revealed last week in a Breaking News bulletin by insuranceNEWS.com.au, features three divisions focused purely on the customer experience.
Mr Harmer says the changes, which took effect last week, will help IAG “quickly adapt” to the rapidly changing business environment.
The structure “reflects our focus on future profitability by redefining our core businesses around our customers and establishing three functions to provide the insights, products and services our customer-facing divisions need to deliver a world-leading customer experience”.
Two customer-facing divisions are responsible for sales, service and brand and marketing execution. They are the Australian Consumer Division, which will focus on individuals and families; and the Australian Business Division, which will focus on businesses of all sizes.
Three divisions focused on customer experience, technology and operations will support these customer-facing units. They are:
- Customer Labs is responsible for customer experience strategy and product innovation through data and insights, brand architecture and new business incubations and venturing.
- Digital Labs will continue the work of IAG Labs, providing digital and design innovation while harnessing disruptive technology. It will build digital apps and ecosystems and simplify core platforms.
- Operations is responsible for claims and operational functions such as procurement and supply chain management, and will assume much of the work formerly carried out by Enterprise Operations.
IAG’s Asia and New Zealand businesses will move into a new International Division, which will focus on growing the established presence in Malaysia, Thailand, India, Indonesia and Vietnam, and maintaining a market-leading presence in the mature New Zealand market.
IAG has also announced a new group leadership team.
Julie Batch will head Customer Labs as Chief Customer Officer, responsible for developing customer propositions and marketing strategies. She was previously chief analytics officer.
Chris Bertuch remains Group General Counsel and Company Secretary, responsible for legal and corporate governance across IAG, and will now report directly to Mr Harmer.
Ben Bessell becomes CEO Australian Business Division (CGU, WFI, Lumley and Swann brands). Mr Bessell was previously acting CEO commercial insurance.
Mark Milliner will become COO when he joins IAG in the middle of next year. Until then, former CEO personal insurance Andy Cornish will act in the role. He will then leave the company to pursue a “portfolio career”.
David Harrington takes the new role of Group Executive, Office of the CEO, responsible for group-wide strategy and corporate development. He was previously group GM for group strategy, reporting to the Chief Strategy Officer.
Nick Hawkins remains CFO, and will have additional responsibility for the International Division and the “challenger” consumer segment, which includes SGIO, SGIC and Coles Insurance.
Dan Coman, who was formerly CFO in IAG New Zealand before leading its strategic change program, has become Deputy CFO.
Jacki Johnson, who was previously CEO for IAG New Zealand, has been appointed to the new role of Group Executive, People, Performance and Reputation, responsible for people and culture, corporate affairs, shared value and the IAG Foundation.
Anthony Justice has been made CEO Australian Consumer Division (NRMA Insurance and RACV Insurance via a distribution relationship and underwriting joint venture with RACV). He was previously chief customer officer, personal insurance.
Claire Rawlins is Group Executive, Digital and Technology, leading Digital Labs. Ms Rawlins was previously CIO and reported to the CEO of IAG Labs.
Clayton Whipp remains Group Risk Officer, with responsibility for group-wide risk and actuarial services.
Duncan Brain remains CEO Asia, and Craig Olsen has been appointed CEO New Zealand. Both will report to Mr Hawkins.
Mr Harmer says Mr Cornish, who spent seven years running the personal insurance division, “has made a wonderful contribution to IAG”, adding: “We wish him every success in his future career.”