IAG’s transformation of its intermediary division includes efforts to enable better digital engagement with brokers.

As insuranceNEWS.com.au has reported, the division has reported recent losses but IAG says it “continues to improve” and remains on track to achieve its stated goal of $250 million profit by the 2023/24 financial year.

Group Executive Intermediated Insurance Australia Jarrod Hill says fast-tracking technologies is a key pillar of the insurer’s strategy.

“We’re improving and expanding our digital experiences and propositions and across IAG’s brands we’re aiming to drive 80% of our customers’ activity through digital channels,” he said.

“This focus on innovating and digitising the customer experience will also help to support our broker partners, who have been accelerating their move to more digital engagement.

“We’re developing a program that will make it easier for our brokers and partners to engage with us digitally, reduce their costs of trading with us and free up their capacity so they can focus on business development.”

Mr Hill says IAG has one of the largest broker and partner networks in the country, which is “integral” to the growth of its business.

“We’re in a strong position to implement our growth plan which, in the intermediated division, will mean growing across our three customer segments by consolidating and simplifying our products; building a great underwriting capability and sophisticated pricing strategies; and using technology to strengthen our connectivity to partners.

“Our plan sets us up to be dynamic and agile in the way we work, with the capability to quickly manage shifts in risk exposure and rapidly respond to the changing needs of our customers and partners.”