Suncorp will continue to pursue supply chain innovations such as the SMART motor repair system, the Morgans Queensland investor conference heard last week.

The insurer also promised investors a “de-risked and simplified business model”, an Australasian focus and strong dividend returns.

Suncorp says its SMART motor repair centres fixed 127,000 cars last financial year, with an average cost saving of $400 per car and repair time cut from an average of five days to 11 hours.

SMART was established in 2010 as a joint venture with smash repairer Jim Vais to provide a next-day service.

Suncorp expects to grow SMART to 30 sites and five SMART Plus sites next year.

Other supply chain innovations included a joint venture with US-based parts company LKQ.

This is a reaction to spending $450 million a year on car parts with 400% mark-ups.

Suncorp will continue expanding its Home Repair business, established late last year to service low-complexity repairs.

The business is estimated to save the insurer $300 for each repair and now operates in Sydney, Melbourne and Brisbane.

Other plans include a “short-tail approach” to personal injury claims, focusing on fast settlements and avoiding protracted legal disputes.

Suncorp Group has a $17 billion market capitalisation, $19 billion in group assets and 14,500 employees servicing 9 million customers.

It has 32% of the personal insurance market share in Victoria, 29% in NSW and 34% in Queensland.